News Topic: Data management

Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president. ... Read full article

The bank has developed APIs to feed customer data directly to seven fintechs and data aggregators, including MX and Finicity. ... Read full article

Melissa Koide, co-founder and CEO of FinRegLab, analyzed loan data from six lenders that use cash-flow data in their underwriting. She shares what she found. ... Read full article

The bank has been deploying artificial intelligence in every business line, conducting research to find out what consumers think about the technology, and holding a roundtable with experts to define "responsible" AI. ... Read full article

A year after the major credit bureaus agreed to strip tax liens and civil judgments from consumers' credit files, a new study says it is hampering lenders' credit decisions. But proponents of the move insist it was the right call. ... Read full article

Teslar Software, which supplies community banks with a platform to manage data from different internal systems, received $2 million from the Independent Community Bankers of America. ... Read full article

OFX is used by 7,000 banks while FDX is used by 2 million consumers. The two standards are converging. ... Read full article

Some banks are setting up their own parallel digital banks, while others form innovation labs. Roman Regelman says BNY Mellon is transforming the entire institution. ... Read full article

Bank of America, MX and Carolina Fintech Hub are training refugees and nontechies to become developers while at the same time showing corporate citizenship. ... Read full article

A security lapse left millions of mortgage records exposed online without proper data protections, according to security researchers. ... Read full article

Efforts to build better connections to bank customer data, trade digital currency and explore artificial intelligence for security and compliance purposes were some of the biggest draws of fundraising for U.S. startups. ... 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

An all-virtual future remains far off, as conversational programs still aren’t capturing the nuance of speech and chatbots have disappointed many customers. ... Read full article

The bank sees its global reach as an advantage in supporting evolving business customer needs. ... Read full article

The online lender hires Ronnie Momen from GreenSky as its chief lending officer; aggregators back Capital One in dispute with Plaid; bank CEO who gave mortgage to Paul Manafort uses fire-and-hire maneuver to reap windfall at taxpayer expense; and more from ... Read full article

It can be difficult for financial services companies to glean customer insights from the abundance of information they have. ... Read full article

In a survey, bankers conceded they may not be doing enough to avoid the mistakes social media giants made in the use of unverified data. ... Read full article

Several banks have reported digital service outages this year, but now there’s a detailed breakdown of one of them — and it shows that the damage goes far beyond reputation. ... Read full article