It doesn’t take special insight to note that 2020 was a tumultuous year for banks—along with the rest of the world—with the dramatic shift to digital and a heavy blow to projections across the board forcing financial institutions to reassess every aspect of how they do business. Now, looking forward to 2021, the banks are beginning to see challenges the new year will … [Read more...] about Banks Cautiously Optimistic for 2021
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Where Health and Wealth Converge: Building New Solutions For Consumer Well-Being
The global pandemic, through necessity, has continued to drive digital innovations throughout almost all industries. But some changes are more revolutionary than others, and in looking at health and wealth management, new datasets and new business models are changing the way advisors and providers look to help individuals and employers alike, providing optimized solutions for … [Read more...] about Where Health and Wealth Converge: Building New Solutions For Consumer Well-Being
What Lessons Can Europe Teach the U.S. about Open Banking?
In late October, the Consumer Finance Protection Bureau (CFPB) put out a call for comment on the Dodd-Frank Act Section 1033, looking for input to drive clarifying rulemaking on the act’s language calling for banks to make available consumer information on request from the consumer. In Europe, similar language was part of the PSD2, and led to a new standard in open banking – … [Read more...] about What Lessons Can Europe Teach the U.S. about Open Banking?
Voice Payments: The Future of Customer Experience?
The following is a guest post from SDK Finance, a FinTech digital banking platform provider. In one minute, an average person can speak five times as many words as they can type. After all, voice is the most natural and efficient form of communication. Awe-inspiring advancements in voice-related technologies took digital voice assistants mainstream. By early 2020, 75% … [Read more...] about Voice Payments: The Future of Customer Experience?
Chicago FinTech News – Corporate Cash Surges
Corporate Cash Holdings Soar, Says New Carfang Group Study Corporations in the U.S. added $1.1 trillion or 38.5% to their cash holdings in the first half of 2020 according to recent data Federal Reserve data analyzed by The Carfang Group. For the second quarter, cash is up $424B or 12% and now stands at $3.9T. According to Anthony J. Carfang, Managing Director at The … [Read more...] about Chicago FinTech News – Corporate Cash Surges
The Programmable Future of Currency
It’s broadly agreed that the rails that exist for payments – both domestically and globally – are antiquated. While there has been any number of advances and shifts toward digital wrappers and new ways for consumers to move money around, on the backend the payment rails themselves are roughly the same as they were 50 years ago. Those rails have built the backbone for a … [Read more...] about The Programmable Future of Currency