News Topic: Big data

As it attempts to craft policy on access to consumers’ financial account information, the agency is wading into a battle between those who want data to flow more freely and those who prioritize security. ... Read full article

The rulemaking is expected to draw enormous interest from both banks and third-party fintech providers. ... Read full article

The agency plans to issue an advance notice of proposed rulemaking dealing with efforts by fintechs and data aggregators to leverage a consumer's bank account information. ... Read full article

A seasoned investor in startups offers his top predictions for the coming decade. Among them: Big tech firms will become big players in financial services. ... Read full article

In trying to adapt and survive in an increasingly tech-dominated world, banks may unintentionally give up their most valuable commodity — their relationship with the consumer, and the data that comes with it. ... Read full article

Consumer demand for digital financial services will inspire a wave of new partnerships. ... Read full article

Questions about the search giant's planned use of transactional data resonate not only with wary consumers, but also with banks that are worried about big tech’s financial services ambitions, as well as lawmakers and regulators concerned about the ... Read full article

New data analytics could help provide more comfort to banks in doing business with the cannabis industry, despite restrictive federal laws. ... Read full article

The acquisition of Radius Intelligence fits with the online lender's existing focus on small commercial borrowers. ... Read full article

Banks need to mitigate potential bias in algorithmic predictive models using artificial intelligence, as regulators are weighing how to oversee the emerging technology. ... Read full article

Banks have to do a better job of protecting personal information about their customers' children. ... Read full article

New tech-focused programs for employees can help banks evolve from within. ... Read full article

Community and regional institutions' survival could hinge on their ability to access large troves of data. ... Read full article

There are a number of actions financial institutions should take to improve their application of machine learning and data analytics technologies. ... Read full article

Banks use anti-money-laundering and fraud systems to try to catch scams that prey on senior citizens. A few, including Wells Fargo, are working on artificial intelligence that could spot them even earlier. ... Read full article

To personalize products and services, banks are now tracking all sorts of alternative data sources, even the manner in which customers type in mobile banking apps. ... Read full article

Envestnet|Yodlee wants accessing data to be as simple as selecting a song to play, while bringing institutional analytic power to the bank branch level. ... Read full article

With Walmart reportedly weighing bids from Capital One alongside incumbent Synchrony Financial to handle its private-label credit card account, Synchrony's use of data and artificial intelligence are more important than ever. ... Read full article