Analytics

The private student loan market is dominated by large players, but some community banks are turning to a third-party tech company to help them get in the game.

The traditional audience for prepaid cards is the underbanked or unbanked, many of whom are excluded from the mainstream financial services system due to their lacking credit histories. Green Dot is nevertheless pursuing this audience with a Platinum Visa secured credit card that requires an upfront cash deposit and carries a raft of fees.

Lenders are starting to bring artificial intelligence into their lending processes. Some wonder whether the machines can make rational, unbiased choices.

Bankers may have a reputation for being old-school, but their rapidly growing digital-ad budgets are in step with the rest of the business world. Banks can both gather valuable demographic data from who clicks on their ads and better measure returns on their investments.

Fiserv, Inc. has beefed up the predictive powers of its core ACH fraud-screening tool with additional data sources, enhancing banks' abilities to block suspicious electronic transactions in real time.

Banks can be more effective in connecting with customers by offering them personalized communications, rather than bombarding them with general sales pitches.

Who knows more about customers than banks? With great data comes great responsibility, though. Banks are expected to show their customers they know them, but are held to a higher standard than, say, Netflix.

The sheer amount of data created in recent years has exploded, leaving banks with a tremendous amount of data sets to mine through. Community banks need to utilize analytics to stay competitive with their big-bank peers.

Nearly six months into its partnership with TD Bank in Canada, Moven is on the hunt for additional partners as it looks to take its real-time spending insights to the masses.

Loyalty programs are likely the underpinning of the adoption of mobile payments, so banks need to make sure reward points are part of their digital offerings.