In an investor-backed power play, the robo tech firm wants banks to turn to it instead of traditional core software providers as they upgrade to digital-banking-friendly technology.
Customers are sprinkling symbols into their texts, and it's a challenge for banks to fine-tune systems to support the use of the cartoon code in communications.
The Golden Contract Coalition, formed in mid-2016 to get community banks better deals with the “big three” core systems vendors, said banks need help with buying from fintech sellers as well.
With millions of Alexa and Google Home devices now in use, first-mover banks are rapidly developing services to let customers control their finances using only their voice — even if there are still many kinks to work out.
The big four core vendors have had little incentive to innovate in recent years. But newer competition will force them to update their technology if they wish to survive the digital age.
OnlyID, a joint offering from FIS and Equifax, is meant to become consumers’ single sign-on for bank and retail websites and apps. Longstanding relationships may give it a better shot at achieving network effect than previous attempts.
Auditors performing a review of Ocwen Financial padded timesheets and claimed excessive and improper expenses, including lengthy travel and meals at strip clubs and casinos, according to a lawsuit filed against Fidelity Information Services.
A new survey finds that 14% of small and medium-size businesses switched banks last year and 18% are considering switching this year. Doug Brown senior vice president of FIS, explains why, and what banks should do about this.
