tag:blogger.com,1999:blog-235433516644980443.post7064142531696061343..comments2024-03-27T05:08:10.195-04:00Comments on Jeff For Banks: FinTech and Community Banking: Built for Marriage?Jeff Marsicohttp://www.blogger.com/profile/12153599647481141591noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-235433516644980443.post-7383939274496659772017-07-21T04:07:56.158-04:002017-07-21T04:07:56.158-04:00This comment has been removed by a blog administrator.Anonymoushttps://www.blogger.com/profile/15305180979420190465noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-3370243579260938902017-07-15T06:23:18.383-04:002017-07-15T06:23:18.383-04:00This comment has been removed by a blog administrator.Nabeel Ahmedhttps://www.blogger.com/profile/01344079950042842875noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-55364439516793302752017-05-04T01:38:15.321-04:002017-05-04T01:38:15.321-04:00Interesting blog and I really like your work and m...Interesting blog and I really like your work and must appreciate for your work for the Fintech.<br /><br /><br /><a href="http://www.stararkfintech.com/" rel="nofollow">stararkfintech</a>James Brownhttps://www.blogger.com/profile/12186035985073376793noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-57289813974319235252016-05-16T13:08:15.898-04:002016-05-16T13:08:15.898-04:00Dave, improving bank processes is one critical use...Dave, improving bank processes is one critical use of FinTech, in my opinion. Consumer loans, for example, are barely breakeven in terms of profitability based on my company's measurement of bank products. There is too much time, too much paper, and too many hands involved to make a smallish loan spin out enough yield above the cost of funds to make this work. In comes FinTech.<br /><br />Thank you for the comment and link!<br /><br />~ JeffJeff Marsicohttps://www.blogger.com/profile/12153599647481141591noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-49904158988365712442016-05-16T13:04:43.328-04:002016-05-16T13:04:43.328-04:00From my observation, millennials are not very good...From my observation, millennials are not very good managing their finances. General statement... yes. True? I think so. Banks, as they are now staffed and with their current technology platforms, are not built to help them. So the generation turns to auto-help, such as budgeting apps, and Betterment. The big risk is once they turn to automation, will they come back?<br /><br />Thanks for the comment Allyce!Jeff Marsicohttps://www.blogger.com/profile/12153599647481141591noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-23844931888310098362016-05-11T15:58:30.977-04:002016-05-11T15:58:30.977-04:00Jeff, two of my favorite FinTech startups, CUneXus...Jeff, two of my favorite FinTech startups, CUneXus and Avoka, are helping banks and credit unions remove the consumer lending application friction. They have both demoed their capabilities at Finovate. On May 10th, CUneXus introduced AutoXpress at Finovate Spring. It turns a bank's mobile banking app into an end-to-end auto purchasing experience. My Financial Brand article has more about this outstanding solution.<br /><br />http://thefinancialbrand.com/58854/lending-digital-technology-innovation-fintech/<br /><br />The cool thing about the CUneXus platform is that it uses each bank and credit unions partner's lending criteria and existing infrastructure. The risk is not using their platform. David Gerbinohttps://www.blogger.com/profile/16582273033896954219noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-66526686422196498612016-05-11T13:14:04.567-04:002016-05-11T13:14:04.567-04:00Hi Jeff, I enjoy reading your blog. This post remi...Hi Jeff, I enjoy reading your blog. This post reminded me of something I recently saw on 60 Minutes – link below. Banks will have no choice but to collaborate with FinTech firms and adapt to the millennial generation.. 70% young adults would rather go to the dentist than a bank!<br />http://www.cbsnews.com/news/fintech-shaking-up-the-financial-industry/<br /><br />Allycenoreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-60204597054303779932016-05-10T08:42:25.533-04:002016-05-10T08:42:25.533-04:00I think the rapid customer acquisition by FinTechs...I think the rapid customer acquisition by FinTechs in recent years fed the hype and growth. From the lending side, will FinTech loans hold up during a recession? They seem confident.<br /><br />From a banking process side, I see good things ahead.<br /><br />Thank you both for your comments. And Dave please share your link when it is up!Jeff Marsicohttps://www.blogger.com/profile/12153599647481141591noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-88302626354911671222016-05-09T16:54:59.344-04:002016-05-09T16:54:59.344-04:00There many cases were collaboration is the best fo...There many cases were collaboration is the best for both parties. It will help drive the best possible solution for customers. With many of these “challengers”, it is also possible to collaborate and compete with the banks at the same time depending on their product or services they offer. Banks are also funding some of these Fintech firms. Anonymoushttps://www.blogger.com/profile/06360889639911591079noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-74358193719429060092016-05-09T16:30:50.507-04:002016-05-09T16:30:50.507-04:00My quick response to your post Jeff is that the Fi...My quick response to your post Jeff is that the FinTech startup sector has been partnering with banks for well over a decade. The hype cycle from the last few years has focused on the banks vs FinTech battle. Some of this is due to the recent financial crisis. During my recent interview on the Money Summit blog I talked about this hype and about some great FinTech companies that help banks (Source Link: https://www.mx.com/moneysummit/david-gerbino ). <br /><br />Later this week, an article I wrote about about a fantastic consumer lending FinTech company will be published. This FinTech, CUneXus, has eliminated a lot of the friction around loans and they only work with banks and credit unions. Once the article is live I will share the link. FinTech is going to change the face of banking. Why? Technology always has.David Gerbinohttps://www.blogger.com/profile/16582273033896954219noreply@blogger.com