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Banking

Jack Henry plans to hit the ground running when FedNow launches and 20 FIs are coming along for the ride

As the launch FedNow draws closer, technology provider Jack Henry has announced that it is operationally ready to support the system.
20 FIs have joined Jack Henry's pilot and early adopter program. FIs expect multiple use cases to open up with the FedNow launch.

Rabab Ahsan | May 19, 2023

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Banking, Innovation

We often think of technology as a driver for innovation in the financial industry. The word “technology” is in some ways synonymous with new and better. But not all technology pushes the envelope further for FIs.
We look at the cross-section of the industry to see how different FIs are navigating the question of technology in different areas such as retail, SMBs, and payments.

Rabab Ahsan | April 19, 2024

Banking, Financial Education

April marks Financial Literacy Month. While financial education was once overlooked, there is now an increased dialogue surrounding this topic as firms are exploring unconventional methods to capture consumers' interest in financial education as a starting point.
We take a look at how Capital One is zeroing in on financial education for consumers of all ages, while Bank of America has recently entered into a new partnership to promote financial literacy among women entrepreneurs.

Sara Khairi | April 17, 2024

Banking, Data

Recent data shows that FIs are warming up to the possibilities alternative data presents, albeit slowly.
If FIs can better determine who is a good credit risk, it's good for consumers as well as lenders’ own bottom lines.

Rabab Ahsan | April 16, 2024

Banking

A lawsuit charges that Bank of America's overdraft fee relief program it launched in 2020 prevented clients from using less expensive options.
We dive into how the details of the recent lawsuit and how it speaks to the CFPB's "war on junk fees".

Rabab Ahsan | April 12, 2024

Banking, Financial Education

Chime is introducing an adult coloring book that can help consumers manage finances and make art at the same time, in partnership with two influencers and T-Pain.
The coloring book aims to make managing finances fun and non-stressful and the amplification strategies around the book show how neobanks are reimagining consumer engagement while most traditional FIs are still struggling with getting consumers to read their education resources.

Rabab Ahsan | April 11, 2024