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Financial services CFOs anticipate economic downturn will affect business strategies
More than one-third (37%) of financial services CFOs agreed that their institutions’ strategies would be constrained due to expectations of an economic downturn in the U.S., according to a new survey by Deloitte released this week.
Survey: Younger investors drawn to wealth management apps
Mobile apps and websites have become the first resources that investors consult to review their investments, make transactions and conduct research, with apps particularly popular among younger generations, according to a new survey by J.D. Power.
Survey: Bank executives optimistic about financial sector’s future
Bank leaders are “cautiously optimistic” about the future, believing that current trends such as increased digitalization and a focus on ESG will positively affect their institutions, according to a new survey by analytics software provider SAS.
Retail banking tech spending trends reflect multiple challenges
Competitive pressures and increased customer expectations are leading drivers of technology investments.
FHFA plans competitions to seek fintech housing finance solutions
The Federal Housing Finance Agency plans to hold a series of “tech sprints” to solicit input on financial technology solutions that could benefit the housing market, but will first seek public comment on maximizing the information gleaned from the events, according to a public notice
ABA cautions against shifting liability for P2P scams
Any measures to shift liability to financial institutions for peer-to-peer payments that a consumer authorizes and later claims were paid to a scammer will harm consumers by diminishing the availability and value of P2P payments, increasing consumers’ costs, reducing competition, and enriching and encouraging criminals, the American Bankers Association said today in a letter to the Consumer Financial Protection Bureau.
OCC to create Office of Financial Technology
The OCC will establish an Office of Financial Technology early next year “to bolster the agency’s expertise and ability to adapt to a rapidly changing banking landscape,” the agency announced today.
Open banking and API security: Best practices
Adopters of open banking can more effectively harden their security stance against future attacks, protect their data and customers with a holistic approach to API.
Virtual reality, blockchain present challenges for financial crime enforcement
Advancements in virtual reality combined with an internet that is growing more decentralized will present potentially major challenges for policing financial crimes, Jim Lee, chief of IRS Criminal Investigation, said today during an industry event.