TD Bank is driving innovation internally by encouraging employees to submit their tech ideas to enhance the bank’s product offerings and streamline its fiscal 2025. The Toronto-based TD in 2019 launched iD8 platform, and employees have since submitted more than 100,000 ideas; of those, 10,000 have been implemented, Luke Gee, head of AI and analytics,…
Financial institutions are bracing for higher data budgets in 2025 primarily driven by cloud infrastructure and AI technology. Nearly 94% of FIs are expecting increased data management budgets, according to London-based data service provider Gresham Technologies’ Dec. 9 report, “Financial firms’ digital wake-up call.” Gresham surveyed 200 senior data professionals working in financial services across…
Financial institutions are looking to invest further in digital transformation initiatives including automation and AI to ensure they have access and understanding of the robust data they have and continue to collect.  Mario Palarca, Iron Mountain There are insights and key metadata hidden in documents within financial institutions that live in digital and physical documents…
Brian Devine December 13, 2024 The end of the year isn’t just made for celebrations, it’s a time to take a look at your finances and see where you stand. We don’t just mean a quick glance at your savings and checking accounts, a financial review means assessing your financial progress and setting goals for…
WECU has increased funding through its digital channels by 10% since implementing open banking in 2022. Following a core and digital banking conversion in 2018, the $2.5 billion credit union realized it needed to continue deploying new technology to be competitive with modern fintechs and bank giants like Bank of America and Chase, Jack Ingram,…
Katie Quilligan, investor at venture capital firm BankTech Ventures, will speak at Bank Automation Summit 2025 on March 3 in Nashville, Tenn. BankTech Ventures invests in fintechs and connects them to the more than 100 banks in its network, according to the company’s website. The Sandy, Utah-based company has invested in 21 startups as of…
Account origination solutions provider Mantl is adding consumer and business loan origination technology to its platform. The solution, Mantl Loan Origination, automates up to 100% of the loan application and decisioning process for personal and business loans. The solution integrates with all major core banking systems and combines account opening with loan origination on one…
Walmart Inc. is pouring more firepower into its fledgling financial venture, scoring a $2.5 billion valuation for the startup and signaling its ambition to wade deeper into financial services. The world’s largest retailer is leading a funding round of more than $300 million alongside investment firm Ribbit Capital, according to people with knowledge of the…
Citizens First Bank is tapping fintech WaveCX to enhance digital engagement between banking employees and customers, and provide employee training. With Omaha, Neb.-based WaveCX, $3.7 billion Citizens First Bank aims to modernize how financial services employees and customers interact, Jon Tvrdik, founder and chief executive at WaveCX, told Bank Automation News. The digital platform will…
Financial institutions are balancing their investment in physical branches and digital capabilities as consumers continue to demand an omnichannel banking experience. “Given the growing use of digital channels, the most successful institutions understand that a balanced approach is needed, where branch locations are complemented by modern online and mobile digital banking options,” Chris Cox, chief…
