Fintech

CFPB catches flak from banks, credit unions on risks of AI

12/06/18

Executives urged the consumer bureau at a public meeting to keep a closer eye on artificial intelligence innovations developed by fintech firms that are subject to less regulation.

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Fintechs look to fill void in private student lending left by banks

12/06/18

Many banks remain wary of student loans given the government's dominance in the market, but some fintechs see untapped potential.

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A two-pronged strategy for reaching the underbanked

12/06/18

Sunrise Banks in Minnesota offers products and services designed to help underserved communities and works with fintechs that have a similar mission.

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CUNA Mutual buys fintech startup Mirador

12/05/18

Mirador's digital-lending platform lets banks and credit unions make decisions on loans within 24 hours.

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Add BMO Harris to list of banks aligning with auto fintechs

12/05/18

The Chicago bank's new partnership with AutoGravity mirrors others struck this year by JPMorgan Chase and U.S. Bank with providers of mobile apps that bundle the car-buying and lending processes.

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Every day is a fire drill for bank cybersecurity teams

12/05/18

Since banks are under constant attack by hackers, the startup XM Cyber is offering them a simulator that seeks to do its virtual worst in order to prevent a real breach.

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CommonBond braces for shift to Gen Z in buying student-coaching fintech

12/04/18

The online lender has acquired NextGenVest, which uses AI and text messaging to advise high school and college students about getting loans. CommonBond’s goal is to better understand the distinctly different demographic group rising behind millennials.

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Swelling corporate debt could come back to bite banks: OCC

12/03/18

The agency's semiannual report on risks in the industry focused heavily on the high volume of commercial loans as well as banks' exposure to nonfinancial corporate debt, which is near a record share of GDP.

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Latest M&A deal for digital banking firm Q2

12/03/18

The company, which helps banks develop high-tech products and services, has agreed to buy Gro Solutions after recently completing its deal for Cloud Lending.

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Agencies push banks to use AI, other means to fight launderers

12/03/18

The federal regulators said in a joint statement that they will take a bank's level of innovation into account in supervising its anti-money-laundering procedures.

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