An internally built system called Advanced Listening analyzes phone calls, emails, text messages and more, identifying possible compliance violations, systemic issues and opportunities to improve processes, products and customer service.
Theorem is marketing its first-ever securitization of unsecured loans. It uses machine-learning technology to gauge the risk of default, a growing concern during the pandemic recession.
The agency sought feedback on potential changes to the Equal Credit Opportunity Act. But a coalition of industry and advocacy groups want a longer comment period to afford “a greater opportunity for thoughtful public participation.”
While they are not dramatically opposed, Jelena McWilliams and Brian Brooks have articulated their own ideas on postal banking and the use of artificial intelligence in lending.
Upstart, which specializes in the use of alternative data and AI in credit decisions, will make car loans directly and sell its technology to banks and other lenders.
The agency’s advance notice of proposed rulemaking, which would require banks to evolve with technology, shows foresight that policymakers too often lack.
The success of Isbank's Maxi service is a lesson for all banks: Chatbots, with the right training, can provide the kind of human touch customers need in times like these.
The agency sought industry feedback on a host of potential changes to ensure that rules are “sufficiently flexible and clear in light of the technological advances that have transformed the financial industry over the past two decades."
