The challenger bank in the third quarter launched Cash Coach, an AI-powered customer insights engine that helps consumers optimize earned interest in deposit accounts and minimize interest charges on credit cards. SoFi plans to roll out a "more comprehensive" SoFi Coach that incorporates all areas of financial services as part of its strategy to rival banks.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
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The major U.S. card networks are pursuing financial inclusion in Egypt, the Reserve Bank of India works to bring central bank digital currencies to more users, and other news in this week's global roundup.
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New regulations involving cryptocurrency and the results of key elections will impact the industry's success this year.
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Shared services organizations PSCU and Co-op Solutions are offering post-purchase buy now/pay later loans, with the goal of reaching consumers who are concerned about managing their credit.
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It isn't that unusual for a spouse to learn only after the fact that his or her mate (or ex-mate, if they're divorced) tried to cheat the IRS on a joint tax return.
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Bank of America Corp.'s Merrill Lynch investment bank unit said it has hired a Royal Bank of Scotland Group PLC executive as its chief financial officer.
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The bank’s CFO says it has enough liquidity to meet loan demand in the short term, but how long can it keep its loan-to-deposit ratio below 100%?
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The new head of the agency regulating Fannie Mae and Freddie Mac will be at the forefront of reforming the housing finance system.
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About 100 financial institutions are owned by or work with Native Americans, yet traditional banking services remain out of reach for many in this demographic.
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.
The managing director and head of treasury solutions at Texas Capital Bank is one of American Banker's 2024 Innovators of the Year.
President Donald Trump said he inherited an "economic catastrophe" from his predecessor in a joint address to Congress, though markets fell Tuesday on fears of a budding trade war with Canada and Mexico.
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The additional data that will become available as the economy slows should reveal the true strength of the technology companies some banks are working with and that should inform whether more regulation is required.
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In the coming midterm elections, bankers ought to pay attention to candidates for state treasurer, controller and other historically low-profile offices.
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Consumers and small business could eventually feel the impact of stepped-up regulatory scrutiny of bank-fintech partnerships.
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The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.
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The agents could overcome the consumer inertia that keeps people in low-yield bank accounts, the consultants say.
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The credit card issuer added two programs with home goods retailers Raymour and Flanigan and Bed Bath and Beyond during the quarter while also increasing its stock buyback allocation and dividend payouts.
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A cohort of more than 100 Republican members of Congress sent a letter to Treasury Secretary Scott Bessent urging the administration to protect and fund a community lending program that has been gutted despite its legal mandate and Bessent's backing.
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The company's software automates much of the process of getting money transmitter, lending and other types of licenses.
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The company is leveraging its bank charter and strong customer acquisition, with app logins up nearly 50% from borrowers.
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The BNPL lender is launching a three-day shopping event that pushes 0% financing offers to draw more consumers into the app and increase sales volumes for merchants ahead of the holiday season.
While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.
The 23rd annual ranking of women leaders in the banking industry.
- Partner Insights from Fannie Mae
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