Resources

What the emerging trends, supply challenges and generational shifts mean for today's auto finance industry

No longer is the cloud viewed only as a way to cut costs or increase storage capacity. Today, financial institutions view the cloud as a way to drive growth, increase agility, and power digital transformation.

A string of big bank failures this spring has cast all manner of regulatory policies into question, but perhaps the most vexing — and most consequential — is the relationship between banks and their government supervisors. But changing an already changing supervisory culture is easier said than done.

Bell, an attorney, founded Ready Life to help reduce the racial wealth and homeownership gaps by showing lenders that credit-score-less consumers have been responsible with their money, based on their daily transactions. Now he and Bernice King, Martin Luther King Jr.'s daughter, are buying a community bank just outside of Salt Lake City.

Traditional KYC procedures often involve intermittent reviews that may fail to capture changes in a customer's risk profile over time. The advent of perpetual KYC transforms this approach by implementing continuous monitoring and updating of customer information.

On June 6, 2023, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve jointly published new requirements for banking organizations in managing the risks related to their third-party programs.

In the world of financial services, computational capacity and the ability to achieve peak performance are linked. Having as much compute power as possible on a daily basis allows financial institutions to perform complex calculations to navigate a host of challenges, including competitive pressures, regulatory reporting, security demands and market swings.

Recent research from American Banker shows that while banks are making progress with their digital initiatives, many are still struggling with areas such as onboarding, identity verification and cybersecurity. This white paper sheds light on where banks are in their digital journey and – more important – how they can better address issues around customer experience, customer identification and fraud prevention.