Data management

The payments company has loaned $5.5 billion to 275,000 small businesses, thanks to a data-driven process free from human interaction.

New fintechs, particularly those that handle data, will falter without transparency and information stewardship, says AvidXchange's Steve Boehm.

Executives from the bank and the tech company have been working for months to create a cloud designed to address the challenges that often slow financial institutions' adoption of cloud computing.

The financial services industry has struggled with how best to explain privacy and data-sharing practices to customers. Mastercard is offering a new framework.

Jeff McMillan at Morgan Stanley shares stories of readjusting to civilian life and how he and his company help other veterans.

Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president.

Credit unions often overlook ensuring that different systems and departments are well connected and can share data. Application program interfaces can help with that.

The bank has developed APIs to feed customer data directly to seven fintechs and data aggregators, including MX and Finicity.

Melissa Koide, co-founder and CEO of FinRegLab, analyzed loan data from six lenders that use cash-flow data in their underwriting. She shares what she found.

The bank has been deploying artificial intelligence in every business line, conducting research to find out what consumers think about the technology, and holding a roundtable with experts to define "responsible" AI.

A year after the major credit bureaus agreed to strip tax liens and civil judgments from consumers' credit files, a new study says it is hampering lenders' credit decisions. But proponents of the move insist it was the right call.

The Independent Community Bankers of America provided seed funding for Teslar Software, which supplies community banks with a platform to manage data from different internal systems.

The Madison, Wis.-based think tank will launch its Centers for Excellence starting next year.

Data collection and analysis is more accessible than ever before, and credit unions must use this tool if they want to successfully compete.

OFX is used by 7,000 banks while FDX is used by 2 million consumers. The two standards are converging.

The California Consumer Privacy Act goes into affect next year and other states are likely to follow suit. Credit unions need to evaluate their data management practices.

Credit unions are slowly embracing the impact data analytics can have on the bottom line, but experts say goal-setting and measurable achievements must also be a part of the process.

Once a dataset’s data and lifecycle events are in a known state with lineage, new and exciting opportunities are possible, writes David Levine, head of data product strategy for PeerNova.

Some banks are setting up their own parallel digital banks, while others form innovation labs. Roman Regelman says BNY Mellon is transforming the entire institution.

Credit unions have not invested enough in analytics. But changing that would help the industry compete with big banks and improve efficiencies.