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The Intersection of Banking and Identity Theft Restoration

By Donna Parent

In a recent 60 Minutes interview, Jay Powell, Chair of the Federal Reserve, stated that cyber risk is the largest threat to the Fed and to financial institutions throughout the U.S. It’s not difficult to understand why. Today’s digital age, paired with the ongoing development of new technologies, have provided a breeding ground for cybercriminals to capitalize upon, across physical and mobile devices.

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2019 So Far: Where Are We at with Digital Growth?

There were four frequently made predictions by industry experts, financial institutions and technology providers at the beginning of 2019, according to the recent Digital Banking Trends Progress Report from D3 Banking Technology.

“Even though we’re only halfway through, 2019 is shaping up to be another wild ride in financial services,” said Mark Vipond, CEO of D3. “In 2019, banks and credit unions must focus on consolidating and streamlining their platforms and leveraging modern technology that helps them better understand their customers’ and members’ needs.”

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Why Banks Are Losing More Than a Fifth of Small Business Loans

And What They Can Do About It

By Trevor Dryer

More than a fifth of small business owners chose not to apply for a traditional business loan because they found the process too complicated, a recent BMO Harris Bank survey found. It’s not too surprising, then, that research released by Mercator Advisory Group also shows that 27 percent of small businesses surveyed in the U.S. have already used an alternative lending platform. And that number is trending up.

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Does the HMDA’s Database Need More Transparency?

After gathering a sample of more than 1.7 million mortgage applicants from 2016 who were either approved for denied for a mortgage, the Clever Real Estate research team discovered something unsettling: 26 percent of African-American applicants were denied mortgages, compared to 10 percent of white applicants. Even when controlling for income, the researchers believe that racial discrepancies still exist.

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Video Banking Offers Extension of Financial Services to New Locations

A number of financial institutions are turning to video banking technology to extend their services finds London-based RBR’s Teller Automation and Branch Technology 2019 report. This trend is particularly strong in rural areas, the research found.

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