The Wall Street Journal recently detailed the demise of the National Bank of Delaware County, a small community bank that had been in business since 1891, after it bought Bank of America’s sole branch in an upstate New York town. But despite cautionary tales, community financial institutions aren’t doomed. [Continue]
Chatbots and digital assistants are everywhere. Start typing questions in a chatbox on a website, and there’s a good chance you’re not conversing with a living, breathing human. The truth is chatbots save companies money. But why are so many of them “female?” [Continue]
Technology should provide advantages to every user — bank employees, advisors and clients. Technology is flexible, which enables the incorporation of traditional options like paper quarterly reports. It can enhance the relationship with an advisor but is unlikely to completely replace it, and that’s where Sawtooth comes in. [Continue]
LenderClose, a fintech startup based in Des Moines, Iowa, is developing new ways for banks to close deals, particularly in the mortgage market. BankBeat talked to its CEO Omar Jordan about the young company’s take on crossing the finish line. [Continue]
Many companies these days use online services, rather than internally hosted applications, making password management and second-factor authentication key. [Continue]
Invest Sou Sou is a company leveraging tech to create and maintain “lending circles.” This is something of a new twist on an old concept of community-based lending. BankBeat spoke with the company’s co-founder and CEO, Fonta Gilliam, about her career and what lending circles can accomplish. [Continue]
Chris Rentner, director of digital lending for Velocity Solutions, LLC and founder and former CEO of Akouba, remembers a time when digital lending for banks seemed like a pipe dream. “If I look back at 2015 when the company [Akouba] wasn’t really even being promoted, everyone was telling us that we were crazy,” he said. “Digital lending at banks? No, OnDeck and Kabbage are going to do that.” [Continue]
As fintech opportunities evolve, staying on top of the latest trends, offerings and regulations requires keeping a finger on the pulse of the industry – or perhaps an ear tuned to the right podcast. [Continue]
MK Decision is a tech company on the rise. Founded in 2015, the San Diego-based company offers an online loan application and security platform designed to help community banks compete. BankBeat talked to CEO Har Rai Khalsa about the company’s approach to online lending and its new partnership, launched in February, with Bankers’ Bank, Madison, Wis. [Continue]
The secure movement of delicate customer information has long been a concern for banks, but never more so than in the age of massive data breaches and numerous cyber threats. [Continue]