5 North American FinTechs Worth Keeping an Eye On

FinTech is a portmanteau of the terms “finance” and “technology” and refers to any business that uses technology to enhance or automate financial services and processes. North America is no stranger to technology and innovative companies. Here is a list…

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David Snitkof: 3 Ways to Use Technology to Reduce Bias in Mortgage Underwriting

Despite federal legal protections against credit discrimination, disparities based on race, marital status, gender, and sexual orientation persist in the mortgage lending process. In 2019, 16% of Black applicants and 12% of Hispanic applicants were denied mortgages, compared to only 7%…

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Fintechs Optimistic About Biden Presidency Amid Increased Focus on Industry

Sipho Simela, head of mortgage strategy at Ocrolus, the New York-based fintech, said: “Following the results of the election, a massive change could be on the horizon for mortgage lending best practices. We could see an environment where the overall supply…

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Biden Wins, But His Fintech Policy Faces Partisan Headwinds

“The Consumer Financial Protection Bureau could be impacted immediately by the election outcome,” said Sipho Simela, head of mortgage strategy at Ocrolus. “Presumably a Biden administration would want to strengthen the power of the CFPB.”

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Why AI is No Longer Optional for Community Banks

For the PPP, Cross River Bank worked with more than 30 partners, including Divvy, Veem and Intuit, to build a platform that could interact with Small Business Administration (SBA) through the Cross River APIs, or application program interfaces. Integrating tech…

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Google, IBM Rush to Sell Banks Cloud Software

With this product, the company is taking on mortgage origination software providers like Blend (which has 250 bank customers of its digital lending platform) and document-imaging and entity-extraction software like the popular Ocrolus, which many banks use to handle document…

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Stepping Up the Fraud Prevention Game: An Interview with Sam Bobley, CEO of Ocrolus

Sam Bobley, CEO of New York-based fintech Ocrolus, recently spoke with The MORTGAGE BANKER Magazine about how lenders can reduce the likelihood of fraud through upgraded processes that catch fraud quicker and more seamlessly.

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Enabling the Enablers: What to Consider When Building Best-in-Class API-led Fintech Companies

Over the last five years, leading financial institutions have realized that APIs can help them deliver better products to existing users and acquire new users without having to rebuild core infrastructure or fix data silos across the organization. Non-bank customers…

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Virtual Classrooms in 2020 Means Working Parents Won’t Catch a Break

Vik Dua, chief operating officer at fintech company Ocrolus in the Financial District, is trusting his employees to organize their workloads and schedules around the best use of their time. “Family comes first here,” he said, noting that the company’s philosophy…

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How New York’s Fintech Startups Plan to Cash in on PPP Loan Spotlight

When small businesses grew frustrated in the spring with waiting in line for federal Paycheck Protection Program loans from JPMorgan Chase and Bank of America, some turned to digital lenders approved to originate the funds, such as Square and Cross River Bank. That provided an opportunity not…

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