News Topic: customer data
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M&T's plan to use in-house data rather than cookies in messaging
Experian, TransUnion bringing buy now/pay later loans into credit reports
Amex adds more countries to cross-border credit-score service
Your bank is probably squandering a huge source of customer data
Will CFPB take cues from Canada in writing data-sharing rules?
What Biden's data portability push means for banks
People’s United deploys tech to predict customers' financial needs
Data privacy regs abroad put even finest digital tools to the test
Technology has helped banks expand globally, but complying with country-specific laws restricting data flows is a constant struggle. ... Read full article
Advice to debt collectors in pandemic times: Watch your language
Now perhaps more than ever, banks and their proxies need to show tact when communicating with past-due borrowers. ... Read full article
Banks' digital outreach efforts amid coronavirus crisis fall short
Few lenders are finding creative ways to provide much-needed financial advice and emergency services online. ... Read full article
OCC did its part to secure customer data. Now it’s CFPB’s turn.
The Comptroller's Office has provided banks with guidance on how to structure relationships with data aggregators. Now the bureau needs to focus on the bank-consumer connection. ... Read full article
What the Visa-Plaid merger means for banks, fintechs
Visa's deal to acquire the data aggregator Plaid is likely to have ripple effects throughout the industry, including less fintech-tech tension over sharing data. ... Read full article
JPMorgan Chase moves to block fintechs from screen scraping
The bank is leaning on its direct API relationships with the major data aggregators rather than letting third parties ask customers for usernames and passwords to access account information. ... Read full article
Fintech, bank conflict heats up; Deutsche plans bonus cuts
Fintechs want access to customers’ financial data, but banks are resisting, on security concerns; Deutsche Bank may cut bonus pool 20% after 14% drop last year. ... Read full article
Will the fintech bubble burst?; banks using customer data for retail offers
The number of fintech startups has declined rapidly; several banks are using customer data to help customize retail offers. ... Read full article
Challenger banks bet public trusts them more than Google
Consumer trust issues have long been a stumbling block for challenger banks, but many say Google will face bigger obstacles. ... Read full article
CFPB complaint portal will remain public, with changes banks sought
The agency put to rest speculation that it might take the database offline, yet new disclosure statements are meant to combat the notion that a complaint proves a company’s guilt. ... Read full article
Throw your old data analytics out the window
Changes in consumer behavior patterns will force banks to reassess the information they use to attract customers. ... Read full article
Even after breach, Capital One is 'all in' on the cloud
The company still intends to shut down its data centers next year even as the recent hacking that exposed the data of some 100 million people raised questions about its aggressive embrace of cloud computing. ... Read full article