Author: hjenkins42

TD Bank is looking to build out its automation expertise as part of a push to hire 2,000 new technology workers. The bank, a subsidiary of $1.73 trillion TD Group, is expanding in the U.S. with its acquisition of Memphis, Tenn.-based First Horizon Corp. for $13.4 billion, according to a recent Bloomberg Mercury report. TD…

Rapidly scaling technology can foster innovation at the bank level, but it can also create operational risks — from data breaches and environmental failures to other unexpected events. Central to guarding against such threats is cultivating resiliency in bank infrastructure architecture and development. Following are four best practices for enabling operational technical resiliency: Practice failure…

Nearly all IT decision-makers have implemented automation projects within the last two years while about half have executed three to four automation projects during that same period. So finds a recent study that polled more than 1,200 IT decision-makers in the U.K., U.S., France, Germany and Japan earlier this year by intelligent automation firm Abbyy.…

Identity verification company Onfido partnered with Bank Millennium Poland to bring automated identity verification to its onboarding process. Bank Millennium Poland was named “Best Digital Bank in Poland” in 2021 by Global Finance Magazine. Onfido also announced that it was joining the digital ID program launched by The Investing and Savings Alliance (TISA). Identity verification…

Everyone is talking and working on Web3. Jack Dorsey is going even further, talking about Web5 powered by Bitcoin. Web3 is the new evolution of the web that’s powered by crypto. On Web2 platforms like Facebook and Twitter, users can only “read and write.” On Web3 platforms, users can “read, write and own” — meaning…

A microservices approach can aid a financial institution’s cloud migration for its applications, given the numerous system connections of apps that must be navigated. The $531 billion Truist, formed by the late 2019 merger of BB&T and SunTrust, and $38 billion TIAA Bank shared with Bank Automation News how the banks are deploying “microservices,” which…

An academic paper studying anonymized administrative data from fintech lender Upstart Network found its alternative credit-decisioning model could widen the pool of potential borrowers more than traditional credit models. “Invisible Primes: Fintech Lending with Alternative Data” found that a traditional counterfactual model, developed in coordination with the Consumer Financial Protection Bureau (CFPB) and used for…

Commercial banks are focusing on a human-centric approach to relationships that may be holding them back when it comes to digitizing such basic functions as account opening. This more human approach is a challenge, Art Harrison, co-founder and chief growth officer for workflow automation vendor Daylight Automation, tells Bank Automation News in this episode of…