It can be hard for college students to build a credit record. Here's how one fintech is using a new debit card model to reach the market.
American Banker
Online Audio and Video Media
New York, New York 185,352 followers
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
About us
American Banker, an Arizent brand, is the banking industry's most powerful information resource providing analysis, insight and perspective on the business of banking. American Banker covers the people, trends, regulations and technologies driving the industry, helping readers keep pace with changes and opportunities in the marketplace. Executives and industry influencers also engage via American Banker's online and live conferences and seminars.
- Website
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http://www.americanbanker.com
External link for American Banker
- Industry
- Online Audio and Video Media
- Company size
- 201-500 employees
- Headquarters
- New York, New York
- Type
- Privately Held
Locations
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Primary
One State Street Plaza
27th Floor
New York, New York 10004, US
Employees at American Banker
Updates
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First Internet Bank and nbkc bank are exploring ways to automate their KYB processes, from using AI to flag negative reviews and fishy websites, to using OCR extract data from uploaded documents.
Banks, fintechs tackle the complexity of KYB with AI and other tech
americanbanker.com
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American Banker reposted this
Two days after regulators levied more fines against Citi for poor data quality management, the megabank said that it's not changing its expense guidance for 2024, and that it will aim to absorb any additional remediation-related costs into the firm's existing spending plan. Analysts pressed CEO Jane Fraser and CFO Mark Mason about the bank's lack of sufficient progress, at least in the eyes of its regulators on its multiyear risk management overhaul. "Is it not enough people? Is it not enough money? Do you need to look at it in a different way?" said analyst Mike Mayo of Wells Fargo Securities.
Citi's revenues rise amid growth across all business lines
americanbanker.com
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American Banker reposted this
Alex Johnson's Fintech Takes newsletter is always full of ideas I wish had thought of. One of those was his observation that the KYB fintech market was suddenly very hot. He graciously let me use this observation as a springboard to look at the KYB landscape more broadly, from what new fintech entrants (TrueBiz Baselayer) were doing to differentiate themselves, to the technology banks such as First Internet Bank (Anne Sharkey) and nbkc bank (Brian Fellows, CRCM) were exploring to automate their own processes. Spencer Schulten, JD, LLM, CAMS also broke down the KYB/KYC space for me.
Banks, fintechs tackle the complexity of KYB with AI and other tech
americanbanker.com
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“In a way, it’s a giant mapping exercise to ingest all the historical financial data on thousands of companies and automate future updates as they become available,” said Katya Chupryna, director at Citi. “Converting this tremendous trove of information from disparate sources in diverse formats from unstructured to structured creates uniformity and opens up endless opportunities for immediate and future interaction with the resulting data sets.”
Citi streamlines commercial lending with the help of AI
americanbanker.com
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With Americans suffering from high housing costs and declining supply, we cannot afford to watch a massive government-sponsored enterprise sit on billions in retained earnings, writes Sharon Cornelissen, of the Coalition for Federal Home Loan Bank Reform, in American Banker’s BankThink.https://bit.ly/3W4iVLY
The Federal Home Loan banks can -- and must -- invest more in housing
americanbanker.com
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Great Midwest Bank saw the biggest growth in first mortgage loans over the previous year with an increase of 18.2%. Read here to see the performance and growth of the top 20 community banks. #banking #lending https://bit.ly/3RZ1BHm
20 community banks with the largest first mortgage loan portfolios
americanbanker.com
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Citi on Friday reported an uptick in revenues as each of its five core business lines, including its long-languishing wealth segment, grew profits during the second quarter. The megabank issued its quarterly results two days after agreeing to pay a total of $136 million in civil money penalties assessed by the Federal Reserve Board and Office of the Comptroller of the Currency.
Citi's revenues rise amid growth across all business lines
americanbanker.com
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Why bank stocks may struggle to muster more momentum now that earnings are starting; Patelco faces multiple lawsuits over ransomware attack; this fintech launched weeks after Synapse failed, and its CEO is undaunted; FDIC nominee Goldsmith Romero says a Basel III reproposal is 'on the table;' and more in today's newsletter.
With bank earnings beginning, stocks may struggle; Patelco vs. cyberattackers
American Banker on LinkedIn
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Banks began reporting their earnings today. We have the latest live. See what happened with Q2 results: Citi: https://lnkd.in/efV8kBRQ JPMorgan: https://lnkd.in/eZRJgP-F Wells Fargo: https://lnkd.in/e7YZJ7pW BNY: https://lnkd.in/epj7DmFU We'll be updating through the day as the banks speak to analysts to explain their numbers. Check out all our earnings coverage on our homepage and at https://lnkd.in/eb-y9brf.
JPMorgan sees investment banking fees up, loans flat in second quarter
americanbanker.com