Paducah, Ky. // www.csiweb.com
End-to-end financial tech solutions company Computer Services Inc. has introduced CSIbridge, an open application programming interface platform designed to give banks the ability to build custom technology integrations with the goals of maximizing efficiency and enhancing competitiveness.
Fort Lauderdale Fla. // www.myvelocity.com
Through the acquisition of CourtesyConnect/CourtesyLimit, an automated overdraft system provided by CourtesyCloud Management Solutions, LLC (a BSG Financial Group company), Velocity Solutions, LLC now provides a cloud-based courtesy overdraft management system. The software and processes allow financial institutions of all sizes to automate their overdraft service and manage it as a line of business, hoping to enhance account holder experience, compliance and revenue. CourtesyLimit, a risk-management component, provides data analysis capabilities to create overdraft limits tailored to an individual’s repayment capacity.
“This acquisition allows us to provide our overdraft solutions to a broader base of financial institutions, including those who are seeking a cloud-based solution,” said Christopher Leonard, CEO of Velocity. “We are better equipped than ever to help financial institutions of all sizes achieve the optimal balance of revenue, service and compliance — the three essential pillars of a complete and proactive overdraft management system.”
October 1 — A survey of 1,000 U.S. consumers reveals that Americans are more likely to automate their day-to-day finances than other daily activities. According to “Consumer Digital Demands” by Charles Schwab, roughly a quarter of those surveyed said they would sooner automate financial tasks than rely on technology to get food delivered (22 percent), find a date (18 percent), diagnose a minor health issue (13 percent) or drive a car (11 percent).
September 25 — Open banking is one of the most critical trends driving change in the U.S. and international banking community. It represents the move from closed to open financial systems where data is shared with third parties through the use of application programming interfaces. To study open banking’s progress, Oracle Financial Services commissioned an industry report from MIT Technology Review Insights that examines how banks are responding to regulatory changes, market shifts and business model changes as a result of open banking.
September 18 — Companies that invest in robotic process automation or artificial intelligence see much higher performance returns, especially if they also invest in people. In fact, the very presence of automation in the workplace is making those work environments more “human.”