Dubbed Intelligent Receivables and created in partnership with a fintech company called HighRadius, the service seeks to help companies match incoming payments with invoices.
While banks know they must develop and launch new tools that are useful, convenient and intuitive, figuring out which tools meet that objective and employing them often seems out of reach.
When Apple or Google releases a new version of its operating system, banks are forced to respond by updating their mobile apps—running just to stay in place. Next month's release from Apple is especially challenging.
Collaboration will help make up for cost concerns from adopting the technology and ensure that the core vendors get the message of community banks’ interest.
The $2.6 trillion-asset bank's recent commitment to digital lending augurs the development of a two-tier market for borrowers who want fast access to cash.
Banks are being pushed into the background of popular digital experiences. But they can reappear on interfaces that customers use daily by doubling down on financial wellness efforts.
The online consumer lender reported a net loss of $25.4 million, bringing its red ink in the five most recent quarterly reports to more than $200 million.
