News Topic: Automation

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First Bank in New Jersey, Northeast Bank in Maine and others have warmed to the idea of using software to streamline Paycheck Protection Program lending so that employees can be more hands-on with customers. ... Read full article

The challenger bank will start by recommending how much users should allocate toward savings and spending, and will later transfer those amounts automatically. ... Read full article

The industry has long talked about embracing digital technology — but the time for talk may be over. ... Read full article

Robotic process automation is normally the province of large banks, but Extraco Banks in Texas and Carter Bank in Virginia are training bots to perform repetitive, mind-numbing tasks. ... Read full article

The rapid pace of technological change will force financial services companies to invest in more efficient digital offerings for clients, eliminate jobs and retrain staff to focus on higher-value work, according to an Accenture report. ... Read full article

Technological efficiencies will result in the biggest reduction in headcount across the U.S. banking industry in its history, with an estimated 200,000 job cuts over the next decade, Wells Fargo said in a report. ... Read full article

Enova has used AI in credit decisions for years. Now it’s having AI do the work of document verification, know-your-customer checks and more. ... Read full article

Most financial institutions can’t compete on pay, but there are other advantages they can offer, including agile development. ... Read full article

Cushion uses AI to help consumers negotiate refunds of overdraft and other fees. But it argues there's a bank play in its technology if bankers take the long view. ... Read full article

Here are seven startups that received multimillion-dollar venture capital investments in recent weeks to accelerate the development of banking products and services. ... Read full article

Five ways AI can drive growth ... Read full article

The New York unit of Popular has contracted with Biz2Credit to automate commercial loan approvals and handle the underwriting for applications under $100,000. ... Read full article

The skeptics keep waiting for investment in financial startups to dry up, but it doubled in the first half of 2018. KPMG's Safwan Zaheer explains why. ... Read full article

The administration’s recent report on fintech innovation discussed ways to adopt electronic promissory notes — or eNotes — and automated appraisals in federal mortgage programs. ... Read full article

Bank of America's top technology officer says finance-industry workers get spooked about their jobs because of how bosses talk about tech. ... Read full article