Enriched data from ISO 20022 is expected to spur new payment-related products and more insightful analysis into customer payment patterns
Browsing: Core processing
As banks approach two key asset thresholds—$500 million and especially $1 billion — they must begin preparing for new risks and regulatory expectations. Many of them play out in the audit committee.
The CFPB is examining the effects of a concentrated core platform marketplace on consumers and banks, CFPB Director Rohit Chopra said today. Speaking to the bureau’s community bank and credit union advisory councils, Chopra said he is “concerned that the core services providers that small players rely on have too much power in the system.”
At a community bank with limited staff and resources, tech transformation is all about setting priorities.
During the CoreConnection session at ABA’s Conference for Community Bankers, core provider CEOs sounded notes that will sound familiar to those following the work of ABA’s Core Platforms Committee: open APIs, access to data and flexible and transparent contracts.
APIs: Enabling the Hybrid Banking Experience to Boost Customer Acquisition and Upgrade Internal Efficiency
“They give you the ability to enter different markets or partner with different companies, providing a funnel for new customers.”
As the FDIC chief prepared to resign before her term was up, she discussed the agency’s progress on innovation, financial inclusion and more.
The outgoing FDIC chairman discusses bank innovation, FDITech, post-COVID exams and the agency’s COVID response in part one of this interview.
Banks of all sizes are hearing from many customers that they want exposure to the fast-growing but volatile cryptocurrency market. Vast Bank recently became the first nationally chartered, FDIC-insured bank to offer crypto banking.
The Bank On movement for financial inclusion continues to accelerate. In July, the Cities for…