AI, machine learning and alternative data are helping banks and nonbanks alike make faster decisions and expand access to credit. While fair lending concerns about “black boxes” have impeded wider adoption of these technologies, the regulatory environment is shifting.
During the COVID-19 pandemic, it is even more critical that banks pay careful attention to precise and emotionally calibrated customer communications.
In a letter to the Office of Management and Budget, the American Bankers Association called for regulatory clarifications that would facilitate the adoption of artificial intelligence technologies by banks.
The Consumer Financial Protection Bureau wants to spur innovation in the use of artificial intelligence and machine learning in financial services, CFPB Director Kathleen Kraninger said today.
The FDIC is in the process of developing guidance for financial institutions on artificial intelligence…
The disconnect between consumers’ self-perceptions and the reality of their financial health is striking, and suggests that financial services need to be doing something different. Findings from a recent Ernst and Young study—infused with insights from behavioral economics—point toward an exciting new path forward.
Remember when checking your balance online was new and novel? The advent of the internet and online banking permanently changed the way consumers conduct their banking activities and interact with their financial institutions.
The FDIC is actively looking for ways to enable banks to offer small-dollar loans, FDIC Chairman Jelena McWilliams said today at a Cato Institute event, drawing an important link between the availability of these products and financial inclusion.
Wherever you find yourself and your team on the marketing analytics journey, taking that next step can make all the difference in your marketing efforts.
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