Data management

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.