As technology and innovation lead to more financial products and services migrating outside the regulated banking sector, regulators must be mindful of systemic risks posted to the financial system, FDIC Chairman Jelena McWilliams said in remarks today.
After announcing during the ABA Annual Convention last month that the FDIC will create an innovation office, FDIC Chairman Jelena McWilliams last night offered additional insight into what such an office would look like when up and running.
Community banks are using APIs to build new services rather than rely exclusively on legacy products.
As long as banks have existed, they’ve deployed innovative technology to better serve their customers and improve efficiency. On the latest episode of the ABA Banking Journal Podcast, two leading bankers discuss distinct approaches to partnering with fintech firms today.
Read on for further insights on faster payments, open banking, security and more.
What do fintech firms Acorns, Square, Money Lion and Qapital all have in common? A community bank founded in Iowa in 1902 works with all four.
The FDIC is pivoting to focus on innovation and simplicity in supervision, FDIC Chairman Jelena McWilliams told attendees at ABA’s Annual Convention in New York today.
Experian, FICO and Finicity today announced a new credit score, called the UltraFICO score, as part of a bid to ensure that creditworthiness is better reflected through credit scoring.