Artificial Intelligence and Financial Services

Give Credit to the New Collections Culture

13 Dec 2021

The Federal Reserve Bank of New York has reported that consumer debt reached a record high during the third quarter of 2021, amounting to $15.24 trillion. That's an increase of 1.9%, or $286 billion, from the second quarter of 2021. With the holiday shopping season in full swing, retailers are forecasting strong sales. While this is good news for...

Going green

Sustainable Finance and the Changing CIO Mandate

04 Aug 2021

In 2015, the United Nations Member States released the 17 Sustainable Development Goals (SDGs) focused on key areas affecting the planet. These SDGs have had a very profound impact on the banking and finance sector, launching sustainable finance initiatives and forever changing the mandates for chief information officers (CIO). At a high level, ...

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Banking Strategy, Digital and Transformation

A New Era in Lending: Setting SMBs Up for Post-Pandemic Success

27 May 2021

In 2020, the Federal Reserve along with the Small Business Administration (SBA) approved $523 million in Paycheck Protection Program (PPP) Loans and then tasked banks with distributing the money. [1] This lending continued earlier this year when an additional $35 billion was loaned to businesses. The 28 million small and midsized US businesses (...