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What Mobile Banking? Small Businesses Still Prefer Checks

Despite the growing prevalence of online banking, small companies write eight times as many checks as their retail customers. In fact, according to recent research from New York-based Biz2Credit, evaluating check usage among small- and medium-sized businesses, SMBs issue an average of 406 checks per year compared to the roughly 50 checks annually written by retail customers.


Millennial Home Buying Habits May Be Driving Down Loan Defects

Loan defect, fraudulence and misrepresentation rates on loan applications decreased 3.8 percent in June, compared to May, according to First American Financial Corp.’s Loan Application Defect Index. In fact, the Santa Ana, Calif.-based company’s research found that the index has fallen 8.3 percent compared to the same time last year.


Consumers Find Digital Security Frustrating, but Trust in Banks Remains High

The average U.S. consumer has 34 different online accounts. From email to social media to bank accounts and shopping, each account requires users to complete some type of security step before accessing its services. And it seems consumers are starting to get fed up.


If the Architects Are Biased, How Can AI Escape the Same Fate?

“Success in creating effective AI could be the biggest event in the history of our civilization.
Or the worst.”
— Stephen Hawking

Artificial intelligence and machine learning have long been pitched as the answer to human frailties and weaknesses. We’ve been told that machines only see data, not race, gender, orientation or age. It’s a nice theory, but it doesn’t quite hold water. AI, it turns out, is only as good as the people who create it, and humans, whether we wish to admit it or not, are ALL biased in one way or another.


Digital Marketing Drives New Card Acquisition

In a recent survey of 5,000 consumers who had opened a new credit card in the past six months, digital marketing channels were shown to be central to consumer awareness of available products. The study, conducted by Kantar’s Lightspeed, found that half of those surveyed learned about their new cards from an online source, and almost 1 in 3 of those online sources were ads on social media platforms.


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