Financial institutions like Ally Financial, Clinton Savings Bank and First National Bank of Omaha are recruiting personal finance experts, college students and local personalities to promote their products and services.
Financial regulators’ statement cautiously encouraging banks to go beyond traditional underwriting in their lending decisions is a big step forward for the use of alternative data and artificial intelligence, bankers say.
Here are seven startups that received multimillion-dollar venture capital investments in recent weeks to accelerate the development of banking products and services.
The San Francisco fintech, which uses artificial intelligence to make consumer credit decisions, has raised an additional $50 million. It also announced new partnerships with lenders and plans for a credit card.
Facing pressure to act on gun control laws, the Omaha bank said it would not "renew its contract with the National Rifle Association to issue the NRA Visa card."
