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As U.S. banks wrangle with account-aggregation sites over screen scraping, the U.K. is championing a safer method for sharing data that could transform the way customers interact with financial institutions.


The proliferation of easy-to-use analytics tools has allowed community banks to do what used to take teams of quants to accomplish. Some are using it to get an edge in M&A, others are using it to improve efficiency.

Bryan Sullivan, the CFO at LoanDepot, talks about its growth prospects without fuel from an initial public offering, how getting consumers to opt for home equity lines of credit is tough, and why he considers the nonbank a disruptor.

The goal of adopting chip cards — to provide tighter security — is a noble one. But by going partway, authorizing transactions with signatures rather than four-digit codes, banks are watering down that security, at least for lost and stolen cards.
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With the outlook for mobile payments improving, American Express has brought together several initiatives in this area under a new umbrella dubbed Amex Enabled Digital Solution.

Forward-thinking companies could get a reputation lift from being first out of the gate with interesting apps. Banks could also be first to help protect customers from the inevitable privacy leaks that the IoT will make possible.
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U.S. Bank recently updated its mobile app to a system that would allow it to react more quickly to new technology. It's going to need that flexibility now that consumers are complaining about missing features in the latest upgrade.
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The Cybersecurity Information Sharing Act, which has advanced far on Capitol Hill, promises to help businesses and government thwart cybercriminal attacks. But privacy advocates say the bill would make misuse of consumer data even easier.

The trade group is calling for increased scrutiny of tech companies that are increasingly encroaching on banks' turf, but Georgia banker Dan Blanton says banks also need to be thinking about ways to team up with these new players in payments and lending — or figuring out how to beat them at their own game.

Community banks are embracing branch innovations to deliver a more personalized experience to customers, and differentiate themselves from larger competitors.
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Customer expectations for digital are a moving target, and banks and their vendors are quickly trying to figure out which products and services to add next.
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Mobile payment users are still in short supply, and the growing range of options may be seen as too chaotic for consumers who haven't yet used a mobile wallet.  read more »
8 Things Apple Pay Left Out

Apple's long-anticipated move into mobile payments seemed to cover all the bases -- Apple Pay will launch with the support of major banks, card networks and retailers. But there were several things that didn't make it into the first version of its mobile wallet.

(Image: Bloomberg News)