The cost of good data is high; the cost of bad data is ruinous
It has never been more important for banks, particularly those over $10 billion of assets, to establish ironclad data quality, governance and control standards. The failure to do so will have cascading negative consequences.
Nicole Lorch helped bring digital-first banking to the U.S. 25 years later, she’s seen major changes as the industry embraced the internet: The Climb
Lorch started as the marketing director at First Internet Bank, the first online-only bank, at its launch. Few Americans had internet access so it wasn’t a sure bet the bank would survive. She’s still there, now as the president.
Beyond CrowdStrike: What banks can learn from other tech disasters
While financial institutions continue to recover from the widespread tech disruption, executives are asking what effective fix-it plans might look like during future events.
Powell huddles with bank CEOs to avoid long legal fight over Basel endgame
Federal Reserve Chair Jerome Powell recently attended a closed-door meeting with a group of big-bank CEOs, encouraging them to work with the Fed to avoid a years-long legal battle over the Biden administration’s landmark capital proposal.
Massachusetts credit union seeks merger with neighboring bank
The planned Bay State deal comes two months after the Minneapolis-based Thrivent said it plans to merge a credit union it controls into a new industrial bank.
New data on credit card losses add to evidence of ‘soft landing’
The once-worsening trend of consumers struggling to pay their credit card bills keeps stabilizing, new data from card issuers showed this week. The improved picture comes amid other signs that consumers aren’t slowing their spending.
Harris takes aim at Wall Street housing ownership in first economic speech
Vice President Kamala Harris outlined a raft of populist economic proposals in her first major economic speech since securing the Democratic presidential nomination, including some aimed at lowering housing costs and boosting supply.
Fintechs navigate a choice: BaaS middleware or go direct?
Nonbanks that rely on sponsor banks to underpin their financial services may assume that “going direct” is safer after the Synapse bankruptcy. But banking-as-a-service middleware has its merits.
Regions taps corporate banking head, Detroit CU’s first-ever woman CEO
Regions Bank hires next corporate banking group leader from within; Detroit CU names its first-ever woman CEO; United Community raises its quarterly dividend; and more in this week’s banking news roundup.
Klarna enters arena with big banks as it adds financial services
The Swedish institution is adding savings accounts to its signature buy now/pay later service as it plots an IPO. Analysts say it will be a struggle to go against U.S. institutions.