News Topic: customer data

U.S. Bank has begun using Einstein, Salesforce’s AI software, to give front-line staff insights into customer activity and recommendations. Other banks are likely to add similar tools. ... Read full article

Customer services are between two human beings. The quality of their exchange is more important than the resolution. ... Read full article

The companies will use an application programming interface to let Chase customers send the data to the apps Finicity supports, including personal financial services apps and income verification tools. ... Read full article

Expanding the definition of a credit union's "common bond" so that it is essentially meaningless appears to be the direction the industry and its regulator are headed. ... Read full article

Financial firms say the database is unreliable and would like to see it removed from public view. But the industry would also lose access to competitive insights that can be gleaned from the massive trove of consumer complaints. ... Read full article

Financial institutions are trusted stores of data about money because they are insured and have a license from governments to operate. Monetizing that data can give them a leg up on the tech giants. ... Read full article

Readers chime in on banks being problem-solvers, Jamie Dimon’s ties to Trump, a new mortgage app, CFPB catching heat over the Wells Fargo account scandal, and more. ... Read full article

Bankers have no shortage of practical expertise to offer customers, but their failure to make an emotional connection with clients could be hurting their retention efforts. ... Read full article

Europe is debating whether to ban screen scraping, a practice that fintechs count on as a last resort. Innovation is at stake. ... Read full article

Readers sound off an attempt to block prepaid regulations, threats to consumer privacy, FSOC’s political bent, the proper use for SARs, and more. ... Read full article

With the reversal of Obama-era rules requiring user consent for data collection, it is more important than ever for U.S. banks and fintechs to demonstrate a robust and consistent approach to data privacy. ... Read full article

Readers weigh in on a notable OCC personnel change, the Scottrade breach, the ability of corporate owners to still be anonymous and more. ... Read full article

Private information about consumer and business accounts was exposed. The bank immediately cited vendor error. ... Read full article

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms. ... Read full article

The concept of a primary bank that satisfies all customer needs is becoming a relic of the past, so banks must rethink their revenue models. ... Read full article

Data and analytics tools can help banks detect financial patterns that may indicate that human trafficking is occurring. ... Read full article

Author Rachel Schneider on income volatility problems; Travis Dulaney talks instant payments; American Banker's Mary Wisniewski discusses the OCC's fintech charter, data aggregation battles, and alternative data. ... Read full article

Technology is moving at light speed beyond smartphones. To compete in this environment, banks need to zero in on solving for basic human needs. ... Read full article