A new kind of British invasion: Regtech hackathons
Tech sprints that bring regulators together with bank officials, data scientists and software companies originated in the U.K. and have crossed the pond into the U.S. ... Read full article
News Topic: Data federation
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How tech — and free publicity — helped this small bank double its deposits
Quontic Bank is offering high-interest, digital-only savings like others, but it says its secret sauce is homegrown technology that optimizes deposit prices. Financial bloggers have taken notice. ... 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
JPMorgan Chase signs data sharing agreement with Envestnet Yodlee
The largest U.S. bank will share data through application programming interfaces with a sometimes-controversial data aggregator. ... Read full article
'Data is being hoarded' by tech companies: BBVA's Carlos Torres Vila
Unlocking the information that technology companies have on consumers would benefit banks and society overall, the chairman of the Spanish banking giant said. ... Read full article
Are customers getting enough control over their data?
Andres Wolberg-Stok at Citi and Sam Taussig at Kabbage debate openness, privacy, control, and how much say consumers should have over their banking information. ... Read full article
'It should just work': Why banks need a single standard for data sharing
Don Cardinal of FDX and Olivier Helleboid of Intuit explain the FDX and OFX standards, how they're turning them into one standard and what that standard will be able to do for banks. ... Read full article
Top data-sharing groups close in on a single standard
OFX is used by 7,000 banks while FDX is used by 2 million consumers. The two standards are converging. ... Read full article
Blockchain key to rethinking identity, avoiding next Equifax
The best solution to the current broken identity system is to flip the authentication process from third parties to the users themselves. ... Read full article
Data aggregation’s new frontier: Lending decisions
Personal financial management tools have long relied on financial data aggregation. Now, aggregators are hoping traditional lenders will take a cue from alternative lenders and use the technology to quicken their underwriting decisions. ... Read full article