BankThink

As business flocks online, voice tech and social are just two of many innovations that will become stable stakes for merchants, says Hatch's Joris Kroese.

Underpinning the technology with mathematically sound models can make a better case to consumers and regulators for why a loan applicant was denied.

While delinquencies are down thanks to previous government support checks, bank lending is moribund; the two bankers helped the president get $330 million in loans that come due soon.

Compassionate billing, transparency and digital processing can all improve conditions for providers and patients, says Cedar's Florian Otto.

This oldest consumers in this next group are approaching their mid-20s, so financial institutions must tweak their marketing if they hope to reach them in an meaningful way.

The simplest of mechanisms, having evolved over time, has now become a trending solution, a beacon of a brighter time and an essential service provider in an hour of need, says PPS' Tessa Unsworth.

The application rate for new cards has fallen 10 points to just under 16%, the lowest level since 2013; small businesses that got loans last time would be eligible for a second helping, with limits.

Data that mimics the original set is part of coronavirus vaccine trials, and also has ramifications for mapping financial services metrics, says Aite's Ginger Schmeltzer.

Venture capitalists will shift their focus to fintechs that support financial inclusion, according to Emmalyn Shaw, managing partner of the VC firm Flourish. Meanwhile, challenger banks will continue to grow, she says.

The pandemic and social unrest made 2020 one of the most challenging years in recent memory, but there is much the industry can learn from the past 12 months.