Data trails and electronic imprints have transformed the way many businesses reach customers, seek opportunities, design products, defend against risk and plan investments. But how far have data and analytics gone in supplanting intuition, rules of thumb, instinct and experience in banks’ decision-making processes? In which activities are analytics the most prevalent, the most desirable, the most challenging to implement?
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Some 54% of small businesses said in a recent survey that elevated rates had led to higher debt payments. And in a sign that loan demand remains soft, 37% reported delaying expansion plans or capital spending.
31m ago -
Investing in Main Street Act has passed the House three times with overwhelming majorities but has failed to gain traction in the Senate. Backers, including banks that invest in the funds, hope to flip the script with a third version.
3h ago -
The head of the Consumer Financial Protection Bureau summarized his findings from a yearlong probe into the Appraisal Foundation. He says the "lawmaking body" is not accountable to the public or market forces.
4h ago -
False information, job losses, diminishing skills and human interaction, among other concerns, have bankers worried about deploying both generative artificial intelligence, like ChatGPT, and more long-accepted forms of AI like machine learning, according to a new survey of American Banker readers.
7h ago -
Despite fresh waves of online fraud and scams, czars of social media platforms, peer-to-peer networks and blockchain products have renewed ambitions to marry financial services with social apps.
10h ago -
Goldman Sachs is unloading the home improvement lending platform GreenSky after a misadventure in consumer finance. However, the consortium buying GreenSky plans to invest heavily in its growth, and Synovus says it's eager to deepen its partnership with the online lender.
March 15