Category: Trade & Industry

Gaining and retaining customers and members is a priority for all financial institutions (FIs). One of the important ways to do this is to ensure your digital account opening process is flawless.  Unsurprisingly, a Harris Poll found that 51% of surveyed respondents named convenience, defined as being able to do anything digitally that can be…

Payments technology and the ability to facilitate real-time payments is top of mind for many financial institutions as the U.S. government’s real-time payments service FedNow is set to launch in July.  Consumer adoption of digital payments proves that clients are ready for more advanced payments technology, and financial institutions are investing in tech to catch…

Seattle Bank has teamed up with two fintechs to beef up its digital loan offerings within point-of-sale consumer loans and small- to medium-size business loans. The $781 million, Seattle-based bank partnered with software-as-a-service (SaaS) provider Judi.ai to break into SMB lending and address challenges in the space, Josh Williams,  executive vice president, chief banking officer…

Key Elements to Ensure the Success of Your Commercial Lending Transformation We’ve known for a while that commercial lending needs to embrace modernizing their technology and plan for a digital, fully integrated platform to not only succeed, but to have any hope in staying competitive. So while change may be inevitable, we understand that isn’t…

Cybercriminals never let a good crisis go to waste.   One online security concern that has resurfaced following the recent turmoil in banks like Credit Suisse and Silicon Valley Bank is cybersquatting.  Cybersquatting is the act of registering a domain name similar to that of a reputable financial institution or other company and then emailing…

Cardstream is launching PayFac-as-a-Service, a new white label service for companies seeking to become payment facilitators. PayFac-as-a-Service clients will benefit from Cardstream’s regulatory position, enabling customers without a license to operate compliantly. Cardstream has built a network of 400+ acquirers, alternative payment methods, shopping cart platforms, and fraud providers. European payment service provider Cardstream announced…

The fintech arms race over the past several years has created a new series of winners and losers in the ever-increasing fintech industry. Namely, third-party providers have been remarkably successful at providing payment services and financial solutions for organizations that need them. In fact, Cornerstone Advisors reported that small to medium-sized businesses (SMBs) annually spend…

The U.S. Federal Reserve has selected AutoRek to feature its technology in its FedNow Service Provider Showcase. The showcase will give the Scotland-based company the ability to offer its payments technology, including automated reconciliation software, to financial services providers in the U.S. AutoRek made its Finovate debut earlier this year at FinovateEurope 2023. AutoRek, an…

Data analytics software platform KlariVis is expanding its national outreach by partnering with professional services firm CliftonLarsonAllen (CLA).  CLA will be an exclusive provider of KlariVis moving forward to add to the number of community banks that have access to the KlariVis platform, a release from the companies said.  KlariVis will be providing enterprise data…

Morgan Stanley is planning to use OpenAI’s GPT-4 platform internally as a chatbot assistant for its financial advisers. GPT-4, a large multimodal model that accepts image and text inputs to create humanlike outputs, is being used at Morgan Stanley to answer questions for financial advisers so they can better serve clients, Jeff McMillan, head of…