After yesterday’s discussion of being careful with customer data, AI may be the solution. In previous examples of data sharing, such as those mentioned with Barclays and ING ten years ago, it was too much of a blunt instrument. The intelligence was lacking. But I can see banks moving stealthily into customer data sharing, targeting,……

After yesterday’s discussion of being careful with customer data, AI may be the solution. In previous examples of data sharing, such as those mentioned with Barclays and ING ten years ago, it was too much of a blunt instrument. The intelligence was lacking. But I can see banks moving stealthily into customer data sharing, targeting,……

Things we’re reading today include … Jamie Dimon: Bank boss warns US interest rates could rise to 8% – BBC News Lloyds Bank axes risk staff after executives complain they are a ‘blocker’ These Are the 32 Most Exciting Fintech Startups in Europe in 2024 (businessinsider.com) Commonwealth Bank reveals the surprising trend among Millennial investors……

Digital bank OakNorth is in the early stages of testing to provide wire banking services in the United Kingdom.   The London-based bank is beta-testing business banking services, including operational accounts, cards and payments, Chief Executive Rishi Khosla told Bank Automation News.  Founded in 2015, the $4.8 billion bank has distributed 10 billion pounds ($13…

JPMorgan Chase’s chief data and analytics officer sits within its operating committee to keep up with ongoing AI investment and implementation bankwide.   Appointed in June 2023, Chief Data and Analytics Officer Teresa Heitsenrether serves on the $3.7 trillion bank’s operating committee and reports directly to Chief Executive Jamie Dimon and Chief Operating Officer Daniel…

TransferGo, the U.K.-based fintech best known as a consumer platform for global remittances, has raised a $10 million growth funding round from Taiwan-based investor Taiwania Capital, with a view to expanding in the Asia-Pacific region. It last raised a $50 million Series C funding round in 2021. TransferGo claims its growth, combined with the new…

Be careful with data Many years ago a few banks debated the idea of selling customer data to get a payback. It was the wrong decision – if you sell customer data, it should the customer who gets the payback, not the bank – and they failed. The two specific examples I remember are Barclays……

Be careful with data Many years ago a few banks debated the idea of selling customer data to get a payback. It was the wrong decision – if you sell customer data, it should the customer who gets the payback, not the bank – and they failed. The two specific examples I remember are Barclays……

Be careful with data Many years ago a few banks debated the idea of selling customer data to get a payback. It was the wrong decision – if you sell customer data, it should the customer who gets the payback, not the bank – and they failed. The two specific examples I remember are Barclays……

Be careful with data Many years ago a few banks debated the idea of selling customer data to get a payback. It was the wrong decision – if you sell customer data, it should the customer who gets the payback, not the bank – and they failed. The two specific examples I remember are Barclays……