While some of the biggest institutions are already rapidly developing new technologies, it’s important that community banks also tap the power of artificial intelligence and machine learning.
Raisin GmbH has hired Wealthfront’s Paul Knodel to expand its internet platform for bank-savings products to the U.S. If all goes to plan, the operation will go live within 12 months.
Banks would be better able to comply with anti-money-laundering laws if all 50 states collected information on the owners of new corporations and published it in a national database, Comptroller Joseph Otting said Monday.
Regions Financial said Thursday that it will not renew its contract with GreenSky — a move analysts say could prompt other banks to re-examine their lending arrangements with the fintech.
The total includes donations to community groups helping low-income people, support for the development of financial coaching programs and investment in the creation and testing of fintech tools that can help underserved people.
Manuel Alvarez, who became commissioner of the Department of Business Oversight on Monday, is the former general counsel and chief compliance officer at the online lender Affirm.
