Economic, regulatory, technological, and competitive pressures have drastically altered the financial services industry, particularly in businesses that touch the American consumer. An analysis by American Banker/ SourceMedia Research shows that the transformation is far from over. Based on surveys of more than 200 financial services executives, this report offers insight into what banks have done to adapt their businesses, and what theyre likely to do next.
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The niche buy now/pay later firm is looking for differentiation in a crowded market with recognizable brands like Klarna, Affirm and Afterpay.
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The 2.0 version, expected to launch next year, will provide more detailed responses based on more complex, humanlike thought processes.
November 21 -
The breach, which occurred earlier in November, did not directly impact customer operations, but a threat actor stole data meant for customers.
November 21 -
The North Carolina-based bank rolled out a multiyear program to provide loans, investments and philanthropic support to communities in the western part of the state.
November 21 -
Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.
November 21 -
Analysts say lenders' shares could rally on deregulation, lighter tax burdens and a resurgence of M&A. Declining interest rates and lower loan losses could further bolster bottom lines and attract investor interest.
November 21