Analytics

The CUSO hopes to create an industry-leading data platform that helps credit unions compete with fintechs and banks.

Their partnership aims to make it easier for community banks and other institutional investors to vet loans that they could buy from online lenders.

Advances in mobile technology have also permeated into other products, including point of sale hardware. With mobile point of sale devices being updated to include sophisticated software, there is more real-time capture of customer data in the store.

It's not enough to hire someone with strong IT skills—they also need "soft skills" such as a passion to keep learning and understanding members needs.

Wirecard has introduced a feature that uses payments data to shape marketing offers and loyalty programs in the travel industry.

AdvantEdge Analytics was launched last year to better help credit unions improve services and gain member insights.

In a move rare for the industry, the bank bought a team of data scientists to bolster its artificial intelligence efforts in areas including product recommendations and fraud prevention.

The data concierge service will find, obtain, clean, integrate data for financial firms, for a monthly fee.

Home equity lines could double over the next six years. Some banks are actively pursuing the consumer credit opportunity, whereas many still feel stung by the housing crisis, unimpressed by home equity’s comeback so far or fearful of nonbank competition and fraud.

Banks are revamping and investing in new wholesale systems to solve the frustrations felt by corporate customers.