Built to respond to borrowers' questions about mortgage deferrals, the bot created by Salesforce is evolving and in the future could conduct transactions, handle a wide range of queries or help with emergencies.
A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses.
More than a third fear the fallout from the coronavirus pandemic could drag into 2022 or later, and they are most worried about commercial real estate loans, according to a Promontory Interfinancial Network survey.
As more consumers do business online, some deposits are being unfairly categorized as brokered, inviting burdensome regulatory scrutiny.
Just eight loans had been made as of late July, six of them through a single community bank in Florida, according to new data on the federal rescue program for small and midsize companies hurt by the pandemic.
The digital bank, founded by a former Western Union president, offers tools to help low- and moderate-income people access their wages early, pay bills and engage in other financial services activities for a monthly fee.
The coronavirus pandemic has forced some branches to close, but demand for in-person advice remains strong.
The owner of The Shuckery in Petaluma, Calif., says she was unable to get a Paycheck Protection Program loan until she responded to an email from the delivery service and BlueVine.
The prepaid card company benefited from payments that were designed to offset the pandemic’s impact on U.S. consumers.
KeyBank, Regions and others are using self-service portals, robotic processing automation and virtual assistants to digitize the collections process and make it more humane in anticipation of rising delinquencies.