Digital innovations are happening at lightning speed. The sheer number of things we can do online—simply by sharing some of our data—is truly astounding. And it’s growing daily. But with convenience comes concern. Consumers are beginning to worry about how much data they’re sharing. What companies are doing with it. And who should really own […]
Yesterday, leaders at the Federal Reserve, FDIC, OCC and CFPB announced their support for using alternative data, like transaction or cash flow data, in credit underwriting. This statement represents several years of work in the nation’s capital by principled regulatory leaders, lawmakers, passionate consumer advocacy groups, and individual thought leaders tied together with the thoughtful […]
By Nick Thomas, Executive VP At the end of last year, The Financial Brand did a survey to determine the top 10 trends for retail banking in 2017. The number one concern for industry leaders and experts was reducing friction from the customer journey (54%), the next was using big data, AI, advanced analytics and […]
At the end of April, Nick Thomas, Finicity’s President of Data Services, and Jessie Morris, our Software Development Director, presented at FinovateSpring 2017, one of the most prestigious events in the Fintech calendar held at the heart of the tech scene in Silicon Valley. Finovate showcases the latest in banking and financial technology innovation, with […]
One of the major banking trends in 2017 is removing friction from the customer journey. So says Jim Marous, top Fintech influencer and publisher of the Digital Banking Report. The latest report suggests banks must harness digital technology to address customer pain points, such as streamlining the user experience¹. This mirrors a trend in […]
It feels as if we’re at the beginning of a seismic shift in the credit decisioning world. With the use of additional and/or alternative data in the credit decisioning process, how we apply for and approve a loan is changing. The Consumer Financial Protection Bureau (CFPB) held a field hearing yesterday, and announced a request […]
