Author: hjenkins42

Use cases for intelligent document processing (IDP) include automating the know your customer (KYC) process. The KYC process previously was performed by humans, which led to plenty of effort and errors, says Sateesh Seetharamiah, director at artificial intelligence and automation company EdgeVerve. Using IDP, one “very large U.S. financial bank” is now able to process…

From cloud-native payments to back-office robotic process automation (RPA), automation can be found in no-fuss applications across the banking ecosystem, but wealth management is tougher to automate — and robo-advisors are especially tricky. Traditional wealth management centers around person-to-person interactions, and this was precisely the challenge TD Bank, a subsidiary of $1.73 trillion TD Group,…

Royal Bank of Canada’s (RBC) 14 million digital banking users soon will have access to the Plaid and Envestnet | Yodlee networks of apps and services via an application programming interface (API). The $1.32 trillion bank announced the data access agreements, which cater to a growing share of digital customers, in a statement this week.…

Powersports lender ThunderRoad Financial’s chief executive, Don Hummer, says the lender is on track to “double” its origination volume by yearend as the company looks to expand, leaning on cloud-based technology to speed funding for dealers. Photo by CanStock ThunderRoad’s origination volume as of June is up year over year, largely due to its competitive…

In auto insurance, processing a single claim event requires a multitude of smaller transactions that involve customers, lenders, collision repairers, auto manufacturers, parts suppliers, medical providers and others. These transactions hinge on an elaborate web of decisions and data, which ultimately shore up transaction costs while increasing the likelihood of fraud and claims leakage. In…

FinTech Weekly is © 2022 and published by the Jan Kus An der Bottmühle 5 50678 Cologne Germany +4922199999701 contact@fintechweekly.com Inhaltlich Verantwortlich gemäß TMG und Paragraph 55 Abs. 2 RStV: Jan Kus (Anschrift wie oben) Haftungshinweis: Trotz sorgfältiger inhaltlicher Kontrolle übernehmen wir keine Haftung für die Inhalte externer Links. Für den Inhalt der verlinkten Seiten…

The $2.5 billion Community First Credit Union has implemented customer service technology from Glia. Glia’s digital customer service tools allow financial institutions to reach out to members and provide online guidance for loan applications. Service representatives can view the same screens as members and offer help with products like an auto loan, the companies said…

CUSO Pure IT Credit Union Services received an investment of $6.8 million this week from a group of credit unions. The funding will be used to help expand Pure IT’s ability to help credit unions leverage technology to compete with other financial institutions and to better serve their members. The investment comes a few months…