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If you are underbanked you probably have limited access to mainstream financial services normally offered by retail banks. Many fintech startups offer alternative ways to measure credit risk, and assert that their products can help extend financial services to consumers who have not been well-served by traditional banks.
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The challenger bank will start by recommending how much users should allocate toward savings and spending, and will later transfer those amounts automatically.
November 17 -
Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.
October 15 -
The industry has long talked about embracing digital technology — but the time for talk may be over.
October 6 -
Robotic process automation is normally the province of large banks, but Extraco Banks in Texas and Carter Bank in Virginia are training bots to perform repetitive, mind-numbing tasks.
September 10 -
Finding a balance between short and long-term needs is the main goal for future-focused leaders, said Tipalti's Chen Amit.
September 1Tipalti -
KeyBank, Regions and others are using self-service portals, robotic processing automation and virtual assistants to digitize the collections process and make it more humane in anticipation of rising delinquencies.
August 4 -
Shifting to a seamless, customer-centric automation strategy can help credit unions better compete with the big banks while also meeting consumer expectations set by the likes of Amazon, Uber and more.
February 7Bizagi -
The rapid pace of technological change will force financial services companies to invest in more efficient digital offerings for clients, eliminate jobs and retrain staff to focus on higher-value work, according to an Accenture report.
December 12 -
Employees at first feared the process might eventually lead to the elimination of their jobs. Ultimately, however, the bots let employees focus on more important tasks, the bank says.
November 20