What do you worry about each day? For some people it’s health, a job, or maybe a child’s behavior. According to recent reports, however, most Americans are worrying about money more than anything else. Are you?
Today MX announced that fintech provider Questis has switched to MX for its financial data aggregation needs. With MX, participants with access to the Questis platform can see all of their finances in one place in a clear, organized, visual manner. Read the full press release here or below.
Don Parker, EVP of Partnerships at MX, joined by partner Bob Burgarino at Apiture, recently presented a webinar as part of the MX Data Webinar series on how online banking providers can join forces with banks and credit unions to make the most of the age of data age. Watch the recording below (or download the deck).
The Biggest Challenge Facing Banks in 2018
When Moorad Choudhry, author of The Principles of Banking, was asked what’s the biggest challenge facing banks right now, he said that it’s “to stay engaged with the customer.”
Banking in 1914
In 1914 an economist named William Scott wrote a book about banking called (quite appropriately) Banking. In his book, Scott outlined the four main services that commercial banks performed:
The growth of Fintech
Despite the fact that most people associate the term “fintech” with their favorite mobile banking app, technology has been an important factor in financial services for decades. Starting as early as the 1950s with credit cards forever changing the way consumers spend money, technology has forever changed this space.
CFPB Launches Inquiry Into Challenges Consumers Face In Sharing Access To Their Digital Financial Records
If financial institutions make it difficult for consumers to share access to their digital financial records, they’ll be blocking a new generation of consumer-friendly products and services, warned Consumer Financial Protection Bureau director Richard Cordray at a field hearing in Salt Lake City yesterday.
Wells Fargo Considers New Performance Metrics, Venmo Grows Rapidly: Essential Fintech Reading Oct 15-21
The Hardest Job In Banking?
Emily Glazer of the Wall Street Journal writes that Mary Mack, the head of retail banking at Wells Fargo & Co., must change the sales culture of the firm. In the wake of a settlement with regulators Wells Fargo scrapped sales goals for retail bank employees but the bank has not abandoned cross-selling, efforts to sell multiple product to individual households.