The fintech is partnering with Choice Financial in North Dakota to create a Douugh-branded checking account and debit card that will prominently feature an AI-based virtual assistant named Sophie.
Add MUFG Union to the roster of traditional banks launching a digital division that aims to grab deposits. PurePoint is going up against some more established competitors who are evolving their strategies.
The belief that all banks must jump on board with the latest high-tech features is overblown — at least for community banks. Success comes from monitoring and satisfying your own customers.
Following the release of the nonbinding statement of policy, regulators still have an important role to play in making sure the industry achieves an effective data-sharing model.
While the Consumer Financial Protection Bureau was careful to note that the principles were not binding, the industry should still adopt the guidelines going forward.
More people are making a case for regulators to step in, saying banks’ lack of leadership diversity is a risk that they have failed to resolve on their own. There is one very surprising thing about the recent wave of sexual harassment allegations. What kind of program will help women advance? The answer might be one that is for the men.
Banks around the world have spent the past few years preparing for competition from small, nimble technology startups. It turns out the real threat may be Jeff Bezos, according to McKinsey & Co. In its annual banking report.
