With the proliferation of Fintech, even smaller community banks are exploring different forms of automation in the lending process in an attempt to improve speed and efficiency of their processes. As online lenders now expand into the once sacred ground of small business lending (traditionally been dominated by the community bank), there are pressures to find methods that not only lower cost but also expand market reach.
We have discussed some of these issues in previous posts; see:
- https://www.premierinsights.com/blog/the-future-of-traditional-brick-and-mortar-bank-branches-remains-a-contradiction
- https://www.premierinsights.com/blog/prevalence-of-online-mortgage-lending-fair-lending, and
- https://www.premierinsights.com/blog/fintech-in-the-fair-lending-crosshairs.
Such methods include ways to leverage both data and technology. Financial institutions have begun to recognize the utility of both and are beginning to search for ways to use them.
The Federal Deposit Insurance Corporation (FDIC) will host a forum on the Use of Technology in the Business of Banking on Monday, May 7, 2018. Panels will focus on emerging technologies that are transforming banking operations; the impact of emerging technologies on retail banking, including new and innovative delivery channels, enhanced customer experiences, and economic inclusion; and consumer financial data access—balancing rights and security.
The forum will bring together representatives of banks that use or are considering using emerging technologies, firms offering emerging technologies, bank trade associations, and federal and state financial regulatory agencies, as well as thought leaders on the use of technology in the business of banking and leaders of consumer and community organizations.
The forum will be held from 9:00 a.m. to 3:45 p.m. Eastern Time in the FDIC’s Sheila C. Bair Auditorium, 3501 Fairfax Drive, Arlington, Virginia 22226.
The link to the live webcast will be available the morning of the Forum from the https://www.fdic.gov/.
No advanced registration is required. Questions email: events@regonline.com
