Fintech, Finance, Technology, Banking Highlights – 6 June 2018

Bank of the West deploys Pindrop machine learning tech for fraud detection

Pindrop, a pioneer in voice security and authentication, announced a partnership with Bank of the West, enabling the financial services company to further expand its exceptional customer experience.

Pindrop’s solutions will provide fraud-detection for Bank of the West customers powered through its proprietary machine learning technology.

Bank of the West is known for its award-winning relationship banking approach and customer service. This partnership underscores their commitment to providing a unique customer experience through innovative technology that secures sensitive information.

“Pindrop’s machine learning technology allows us to better know our customers and more effectively protect their assets,” said Patricia Nowak, Head of Enterprise Customer Experience for Bank of the West. “Using emerging technology to better serve our customers is a key initiative for Bank of the West.”

Kony launches digital banking platform

Kony, a provider of digital banking solutions, announced the launch of its Kony DBX digital banking platform and application suite to help banks and credit unions cost-effectively accelerate their digital strategy.

This announcement marks a major advancement of Kony’s strategic focus on digital banking, which brings together more than a decade of digital expertise across multiple industries, advanced technology solutions and an expansive partner network. Kony is also the first vendor to provide pre-built, native and web apps along with a purpose-built digital banking platform to help banks and credit union deliver frictionless digital experiences across all customer touchpoints, with greater business agility.

As consumer preference has shifted more to digital, many banks and credit unions are at a disadvantage compared to big banks and innovative fintech startups. This is mainly due to outdated, complex legacy systems, which make it challenging for regional, community banks and credit unions to digitally transform. The Kony Digital Banking Platform is the industry’s first purpose-built platform for digital banking that empowers banks and credit unions to cost-effectively deliver exceptional digital customer experiences seamlessly and securely across all of its banking services and channels. In addition, the Kony DBX Retail Banking app offers easy access to a growing portfolio of more than 125+ features and functionalities, allowing banks and credit unions to accelerate digital innovation, address real-world customer experience challenges, and drive profitable customer growth.

Fico and Equifax join forces to help banks make better lending decisions

As the UK’s Financial Conduct Authority pursues measures to stop consumers becoming trapped by persistent debt, two industry leaders in credit risk management have joined forces to help lenders make better lending decisions.

At the Money20/20 Europe conference in Amsterdam, analytic software firm FICO and global information solutions leader Equifax launched the FICO Risk and Affordability Decision Suite, powered by Equifax, which uses advanced predictive analytics to assess a consumer’s repayment risk as well as their ability to handle both existing and new credit.

Broadridge partners StatPro for performance analytics

Broadridge Financial Solutions, a global fintech firm, announced a new strategic partnership with StatPro Group, the leading provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry.

This partnership enhances the existing Broadridge Performance Reporting platform, which allows clients to receive customized daily performance calculations and is another example of how Broadridge is delivering real business value through technology-driven solutions.