The establishment of a public/private standards-setting organization to help banks adopt third-party financial technology solutions is an idea that deserves further consideration, FDIC Vice Chairman Travis Hill said.
Deposits, loans, data and efficiency top the list of strategic priorities for community and regional financial institutions, according to a recent survey of CEOs conducted by Jack Henry.
The program, titled “Velocity: Securing the free and fair flow of data,” will bring together experts and practitioners from the technology and mortgage finance sectors to propose solutions for reducing mortgage costs and delivery times, while also creating a more inclusive and transparent process, according to the agency.
While most may not understand exactly how quantum computing works, it is a concept of growing importance for industries that use encryption and algorithms, including banking.
Even with all the promise of ChatGPT, and similar conversational AI technologies, humans should be part of the loop and review the outputs that are produced.
The banking industry is not meeting demand for new bank formation, Federal Reserve Governor Michelle Bowman said.
How can community bank emerging leaders take initiative in innovation? Tim Shangle advises bankers to take small steps and explore what new technologies can do.
The Office of the Comptroller of the Currency this week announced the creation of the Office of Financial Technology and the selection of Prashant Bhardwaj to lead the office as deputy comptroller and chief financial technology officer, effective April 10.
The Federal Trade Commission this week filed a lawsuit to block a proposed merger between the nation’s two largest providers of home mortgage loan origination systems and other lender software tools.
How does a community bank whose bread and butter was mortgage lending make the business sustainable in a time when mortgages have increasingly moved to the nonbank sector?