Weekly Coffee Break: Roundup of Industry News
Every week, we’ll share a roundup of industry news and links that have informed, entertained, and inspired us.
Here’s our weekly roundup of industry news:
Introducing Digital Identity Week on Daily Fintech – This week on Daily Fintech is all about Digital Identity (KYC as seen by the bank). This is part of a series where we look at the impact of different disruptive technologies on Finance. In the past we have covered Blockchain, Artificial Intelligence, Regtech, Chatbots, XBRL, Wearables and Open API.
11 Ways Fintech and Banking Will Change in 2017 – It’s almost time to wave goodbye to 2016. This was a big year for fintech, with new regulations, new startups, and new technologies displayed across events like Sibos and Money20/20, making it clear that the progress of fintech can’t really be stopped.
Who are the Credit Invisible? – In 2015, we published a report finding that 26 million Americans are “credit invisible.” This figure indicates that one in every ten adults does not have any credit history with one of the three nationwide credit reporting companies. The report also found that Black consumers, Hispanic consumers, and consumers in low-income neighborhoods are more likely to have no credit history or not enough current credit history to produce a credit score.
Gifts are great, but why not give financial education this Christmas? – Christmas is always a stressful time of year. We spend weeks planning holiday parties and dinners. Then we put undue pressure on ourselves to get the perfect gifts for our loved ones. No matter how good the gifts may be, there is no guarantee that they will stand the test of time. While your younger recipients may have toys, video games, or candy in their letters to Santa, why not give the gift of how to manage money? Which (and please excuse this overused phrase) is truly the only gift that keeps on giving.
Get your piece of the loan pie in 2017 – Recently, industry analysts have been predicting an 8-10% growth in auto loans in 2017. That should come as pretty good news for many credit unions but it makes me wonder how big of a piece of the pie many will be able to consume. With more and more competitors emerging in the marketplace and manufacturers and dealers becoming more aggressive as new car sales flat line, credit unions will need to raise their game to a new level to consume their fair share.
Can Fintech Fix 401(k)s? – The changing concept of retirement in America is disrupting the parts of the financial services machine that are geared around it.