Data strategy

Jeff Banks intends to give bank staff easier access to data and clearer insights they can use to make decisions.

The bank is predicting a $450 billion “value pool” of data from vehicles by the end of the decade, with the information gleaned encompassing everything from driving patterns to coffee purchases.

Consumer savings are up, yet so are evictions. Banks need to reach out more to those who are struggling financially, and they could use data as a guide.

A three-stage plan combining data analysis, public disclosure and market-based regulatory intervention would better align financial services with what consumers really need.

Silicon Valley giants are better innovators, software developers and data managers, but banks' inherent advantages shouldn't be discounted, says Sonny Singh, a senior vice president at Oracle.

Banks are increasingly sharing data and must brace for new regulations protecting that data.

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

A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, the consultancy said in its annual review of the industry released this week.

Andres Wolberg-Stok at Citi and Sam Taussig at Kabbage debate openness, privacy, control, and how much say consumers should have over their banking information.

Growers Edge is adapting retail financial technology to compete with traditional banks in ag lending and crop insurance.

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.

The Gramm-Leach-Bliley Act is a successful privacy law that ought to govern all financial services providers, not just banks.

A centralized rules-based system can produce insights into how staff pay when traveling, which can inform broader vendor management, contends Yash Madhusudan, co-founder and CEO of Fyle.

The Credit Union National Association’s summer conference in Orlando offered attendees insights into service, succession planning, collaboration and more.

For four years running, consumer complaints about the three national credit reporting agencies — Experian, Equifax and TransUnion — have dominated the CFPB’s database. What do they keep doing wrong?

As CFPB mulls privatizing database, consumer complaints are on the rise; an argument for continued human oversight of artificial intelligence; how some banks are luring talent from big tech; and more from this week's most-read stories.

The bank is one of many to realize that artificial intelligence is only as good as the data fed into it.

The central bank said the supplemental document “provides significantly more information on the stress test models that are used to project bank losses, compared to disclosures from past years.”