In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an “UltraFICO” score that lets individuals share checking and savings account data and help lenders better assess risk.
Lombard Odier’s US-based private clients will in future be advised by Vontobel Swiss Wealth Advisors AG (VSWA), a wholly-owned subsidiary of Swiss family-owned and listed company Vontobel Holding
The post Vontobel to acquire Lombard Odier’s US wealth management business appeared first on Compelo Banking.
Wall Street group reorganises to offer investment management services to the masses
Banking the rich is a growth industry
Plaid will be able to access the bank’s customer information through a secure API. JPMorgan has similar agreements with three other fintechs.
Jeff Szyperski wants regulators to update the definitions of assessment areas under the Community Reinvestment Act, and remove ‘arbitrary’ asset thresholds from bank regulation in general.
The $22.9 billion-asset TCF also highlighted improvements in credit quality in the third quarter as it continued to exit the auto finance business.
The challenger bank is “rebundling” banking, offering more pieces of traditional financial services for a flat monthly fee.
The bank will still use GoTo, an app consumers can use to communicate with a personal banker, but no longer own the Pivotus subsidiary that created it.
Brian Johnson, the agency’s second-in-command, wields much power; Fair Isaac is planning changes to credit scoring to boost approvals.