Customer service

Americans spent 49% more on overdraft-related fees in 2023 than previously estimated, according to new research, which finds that credit unions were largely responsible for the previously uncounted revenue.

The fintech, which specializes in low or no fee banking and early access to paychecks, is now offering three-month installment loans.

The direct-to-consumer earned wage access provider is allowing consumers access to their paycheck two days before payday. It's hoping it will draw in more customers.

As Klarna wins installment lending for the retail giant's OnePay app, rival Affirm seeks to downplay the loss.

The breach occurred through a vulnerability in third-party file transfer software, and it took weeks for the bank to discover it.

AI isn't inherently good or bad; its value depends entirely on how it's used. For financial institutions, this means shifting the focus from internal productivity gains to customer outcomes.

High winds continue to impede firefighters' progress in the Pacific Palisades and Eaton fires.

Few banks are listening to what their customers are saying on Reddit, but the site can help them spot customer complaints and develop content that dispels misinformation. 

If banks want to create customer loyalty and support growth, they need to holistically focus on the human factors that ultimately influence business outcomes.

A new government effort intends to tackle unfriendly consumer practices. The CFPB is tasked with addressing chatbot misuse and customer service "doom loops."

Air Canada was penalized for misinformation generated by its chatbot; Patagonia has been accused of letting a vendor's AI model analyze customer service conversations without consent. These cases have parallels in banking, where many institutions use AI-based chatbots and contact center software.