Banking

What are the benefits of integrating sustainability into financial services? — To effectively solve the problem of large personnel’s carbon footprints, we will use the design thinking process which includes: Setting the context by understanding the problem and user needs through research and observation. Generating a wide range of ideas through ideation techniques. Developing and refining the best solution through prototyping…

The US Federal Reserve announced that it would not prohibit member banks or prospective applicants from providing crypto custody services provided it is conducted safely and legally. The US Federal Reserve, through a press release on Friday, announced that it would ‘not prohibit a state member bank, or prospective applicant…

Wyoming-based and crypto-focused Custodia Bank’s application for Federal Reserve System membership has been denied. The Federal Reserve Board has declined to approve an application by Custodia Bank for membership into the Federal Reserve System. The crypto-focused bank based in Cheyenne, Wyoming, had made the application with the hopes of entering…

Fintech is changing the status quo. As more and more startups hit the market offering flexible, electronic options for everything from mobile stock management to digital currency exchange, entrenched finance giants are realizing that traditional brick-and-mortar thinking can’t keep up. These startups are offering consumers accessible, streamlined services at every…

Summary Banks nowadays face fierce competition to acquire and retain customers. In an effort to help financial institutions predict customer churn and timely deploy solutions to retaining customers, our team set out to build three predictive models to forecast churn and help banks improve its bottom line. In our analysis using…

The banking industry is undergoing a major transformation due to the proliferation of data-driven insights. By leveraging machine learning (ML) and analytics, financial institutions are able to better evaluate risk and make smarter decisions. In this blog post, we will explore how banks use ML algorithms to analyze risk and…

Options for US bank accounts in Canada — Are you a Canadian that would like to open a US bank account? Here, we will look at the different options, their costs, and benefits. We will look at these major Canadian financial institutions: Canadian Imperial Bank of Commerce (CIBC) Royal Bank of Canada (RBC) Bank of Nova Scotia (Scotiabank) …

Income inequality has been a defining feature of our global economy for decades, and it continues to be a topic of much debate and discussion among economists, policymakers, and the general public alike. But what exactly is income inequality and why should we care about it? In its simplest form…