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FICO and two data partners are testing a credit score based on alternative data that could help banks take smarter risks on borrowers with limited credit histories, but bankers' cost concerns and adherence to traditional methods present big hurdles.
April 2 -
Jacob Dienelt, a former financial adviser at Morgan Stanley, has joined Factom, a cryptocurrency tech startup, as its head treasurer.
April 6 -
Social media data offers banks a vast, relatively untapped source of insights about everything from marketing to identifying new customers, talent and potential risk management issues. The key is assembling a team that knows how to mine social media for information.
March 25
Novantas, a New York-based bank advisory firm, has hired the former head of analytics for Bank of America.
Ryan Ritz, who led analytics for Bank of America and Ally Bank during his 20-year career in banking, will seek to "advance the application of pricing analytics in banking," according to a press release from the advisory firm.
"Leading banks have learned that product pricing is more than a math problem," Novantas chief executive Dave Kaytes said in the release. "Ryan's deep technical and analytical capabilities and product knowledge are perfectly aligned with Novantas' business model: Embedding customer science in banking by integrating advanced technologies within practical tools."
