/ en Tue, 09 Dec 25 17:27:49 -0500 /blog/smarter-compliance-why-regtech-has-become-business-critical <span class="field field--name-title field--type-string field--label-hidden">Smarter Compliance: Why RegTech Has Become Business-Critical</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>juan.gonzalez</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2025-12-09T17:27:49-05:00" title="Tuesday, December 9, 2025 - 17:27" class="datetime">Tue, 12/09/2025 - 17:27</time> </span> <div class="field field--name-field-blog-category field--type-entity-reference field--label-hidden field__item">Blog</div> <div class="field field--name-field-blog-media-main field--type-entity-reference-revisions field--label-hidden field__item"> <section id="paragraph-t_com_image-270544" class="wrapper-t_com_image"> <div class="clearfix paragraph com-image paragraph--type--t-com-image paragraph--view-mode--default"> <div class="container"> <a href="/blog/smarter-compliance-why-regtech-has-become-business-critical"> <div class="field field--name-field-t-com-image field--type-entity-reference field--label-hidden field__item"><div> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <picture> <source media="all and (min-width: 1201px)" type="image/jpeg" width="2000" height="834" data-srcset="/sites/default/files/styles/responsive_image_2000/public/media/image/reg_tech.jpg?itok=9nN27HU2 1x"/> <source media="all and (min-width: 993px) and (max-width: 1200px)" type="image/jpeg" width="1200" height="500" data-srcset="/sites/default/files/styles/responsive_image_1200/public/media/image/reg_tech.jpg?itok=XvfEpphI 1x"/> <source media="all and (min-width: 577px) and (max-width: 768px)" type="image/jpeg" width="768" height="320" data-srcset="/sites/default/files/styles/responsive_image_768/public/media/image/reg_tech.jpg?itok=72kfli9V 1x"/> <img loading="eager" width="2000" height="834" alt="RegTech" class="lazyload" data-src="/sites/default/files/styles/responsive_image_2000/public/media/image/reg_tech.jpg?itok=9nN27HU2" /> </picture> </div> </div> </div> </a> </div> </div> </section> </div> <div class="field field--name-field-blog-sections field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-t_post_info-270547" class="wrapper-t_post_info theme-default margin-bottom-default margin-top-default padding-bottom-default padding-top-default"> <div class="clearfix t-post-info paragraph content-moved-inside paragraph--type--t-post-info paragraph--view-mode--default"> <div class="t-post-info-inner"> <div class="t-post-info-content"> <div class="field field--name-field-t-post-info-content field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-d_p_text_paged-270546" class="wrapper-d_p_text_paged with-long-text margin-bottom-default margin-top-default padding-bottom-default padding-top-default theme-default"> <div class="clearfix paragraph text-page paragraph--type--d-p-text-paged paragraph--view-mode--default"> <div class="container"> <div class="clearfix text-formatted field field--name-field-d-long-text field--type-text-long field--label-hidden field__item"><p>For years, compliance has been viewed as a cost center, something required to satisfy auditors, appease regulators, and avoid fines. But that mindset is changing. As financial services become more interconnected and data-driven, compliance is emerging as a strategic differentiator, and RegTech (regulatory technology) is shifting from “nice to have” to business-critical.</p><p>Regulators worldwide—including the FCA, ESMA, and the European Banking Authority—are raising expectations. New frameworks such as DORA, MiCA, AML6, and ongoing PSD2 updates are pushing financial institutions toward greater operational resilience, real-time data visibility, and fully auditable processes. Compliance can no longer be reactive; it must be proactive, automated, and data-driven. Institutions that fail to modernize risk falling behind both competitors and regulatory expectations.</p><h2>Why Now?</h2><p>A few key dynamics are reshaping what effective compliance looks like and pushing institutions toward technology-enabled transformation. Although the specifics vary across banking, insurance, and asset management, most financial organizations are responding to the same set of pressures. Three stand out:</p><ol><li><strong>Data Complexity</strong><br>Financial institutions now manage unprecedented volumes of structured and unstructured data, including customer communications, transactions, onboarding records, surveillance logs, and third-party data feeds. This information moves across borders and jurisdictions, each with its own risk standards. Manual processes simply can’t scale at the speed or volume required.</li><li><strong>Regulator Expectations</strong><br>Authorities increasingly expect continuous monitoring, rapid escalation, and clear explainability for decisions influenced by AI or algorithmic models. Periodic reporting is no longer enough. Regulators want evidence that institutions can identify, escalate, and remediate risks in near real time. This includes readiness for DORA compliance and alignment with EU AI Act compliance requirements.</li><li><strong>Cost Pressure</strong><br>With margins tightening across financial services, maintaining large, decentralized compliance teams is becoming unsustainable. Automation and orchestration tools reduce operational burden while standardizing processes globally.</li></ol><p>Together, these pressures are accelerating investment in RegTech—solutions that harness AI, machine learning, natural language processing, and automation to reduce risk, speed decisions, and demonstrate compliance with confidence.</p><h2>From Compliance Burden to Business Opportunity</h2><p>Forward-looking firms are no longer treating compliance as a tick-box exercise. They’re using it to gain market access, strengthen customer trust, and support international expansion. When powered by intelligent technology, compliance becomes a <em>growth enabler</em> rather than an operational drag.</p><p>Examples include:</p><ul><li><strong>AI-driven AML automation and monitoring</strong> that detects anomalies faster than any human team, reducing false positives and uncovering hidden patterns of suspicious activity.</li><li><strong>Automated translation, content classification, and document review</strong> that allow cross-border transactions and disclosures to be vetted in real time, regardless of language or jurisdiction.</li><li><strong>Centralized audit trails</strong> that enable quick, consistent, and transparent responses to regulatory inquiries.</li><li><strong>Policy automation and reporting workflows</strong> that reduce manual effort and free teams to focus on higher-value risk assessments.</li></ul><p>The organizations leading the next phase of digital financial services are those that embrace “smart compliance” as their standard, building architectures that are adaptable, global, and grounded in reliable data.</p><h2>Preparing for the Future: Practical Recommendations</h2><p>Building a future-ready compliance ecosystem requires more than technology adoption. Institutions should focus on establishing sound governance, transparent processes, and a data foundation that regulators can trust. Practical steps include:</p><ul><li>Building an <strong>AI governance framework</strong> aligned with regional regulations such as the EU AI Act standards and emerging US federal and state guidelines.</li><li>Documenting <strong>model design, training data sources, validation methods, and intended use cases</strong> for all high-risk applications.</li><li>Conducting regular <strong>bias assessments and fairness audits</strong> using representative datasets across geographies and demographics.</li><li>Implementing <strong>human-in-the-loop oversight</strong> for critical, high-impact decisions.</li><li>Partnering with organizations like ��ɫ for <strong>data collection, annotation, multilingual model evaluation</strong>, <strong>and compliance support</strong> tailored to financial services.</li></ul><p>These foundational practices not only mitigate risk but also create audit-ready documentation that regulators increasingly expect.<strong> </strong></p><h2>Case Study: Responsible AI in Credit Scoring</h2><p>A multinational bank faced regulatory pressure to increase transparency in its credit-scoring processes.<a href="https://www.dataforce.ai/why" target="_blank"> DataForce</a> designed a solution that combined high-volume data processing with a fully traceable annotation audit trail, ensuring every AI-generated credit decision could be reviewed and justified. Expert annotators conducted post-editing and compliance checks, reducing rejection appeals by 15 percent and accelerating audit completion times by 40 percent. The results demonstrate the business value of responsible AI governance and illustrate how AI in compliance can support more explainable and auditable decision-making. </p><h2>Modernize Compliance with AI You Can Trust</h2><p>As AI continues to transform financial services, regulatory expectations are rising just as quickly. By investing in explainable models, bias mitigation, rigorous documentation, and human oversight, institutions can protect their reputations and unlock the true potential of AI.</p><p>��ɫ remains at the forefront of supporting financial organizations with reliable data, annotation, and AI governance solutions built for high-stakes environments.</p><p>For more insights on building responsible fintech AI programs, explore <a href="https://www.dataforce.ai/why" target="_blank">DataForce’s</a> resources or connect with <a href="/industries/finance-and-banking">our expert teams.</a></p></div> </div> </div> </section> </div> </div> </div> <div class="t-post-info-author"> <div class="t-post-info-author-image"> </div> <div class="t-post-info-author-content"> <div class="field field--name-field-t-post-info-author-name field--type-string field--label-hidden field__item">The ��ɫ Financial Services Team</div> <div class="field field--name-field-t-post-info-author-pos field--type-string field--label-hidden field__item">Mariana Ordonana - Director, Business Development</div> </div> </div> </div> </div> </section> </div> <div class="field__item"> <div class="clearfix paragraph paragraph--type--d-p-blog-text paragraph--view-mode--default"> <div class="clearfix text-formatted field field--name-field-d-long-text field--type-text-long field--label-hidden field__item"><style> /* Prevent title overlay with image on large screens */ .blog-post-header .title{ max-width: 820px; } </style></div> </div> </div> </div> <div class="field field--name-field-blog-topic field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/blog/category/financial-services" hreflang="en">Financial Services</a></div> </div> <div class="field field--name-field-blog-industries-categories field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/resources/category/finance-banking" hreflang="en">Finance & Banking</a></div> </div> Tue, 09 Dec 2025 22:27:49 +0000 juan.gonzalez 65358 at /blog/unlocking-latino-homeownership-how-mortgage-insurance-freedom-act-will-empower-communities <span class="field field--name-title field--type-string field--label-hidden">Unlocking Latino Homeownership: How the Mortgage Insurance Freedom Act Will Empower Communities</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>rbisht</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2025-12-04T08:43:49-05:00" title="Thursday, December 4, 2025 - 08:43" class="datetime">Thu, 12/04/2025 - 08:43</time> </span> <div class="field field--name-field-blog-category field--type-entity-reference field--label-hidden field__item">Blog</div> <div class="field field--name-field-blog-media-main field--type-entity-reference-revisions field--label-hidden field__item"> <section id="paragraph-t_com_image-269913" class="wrapper-t_com_image"> <div class="clearfix paragraph com-image paragraph--type--t-com-image paragraph--view-mode--default"> <div class="container"> <a href="/blog/unlocking-latino-homeownership-how-mortgage-insurance-freedom-act-will-empower-communities"> <div class="field field--name-field-t-com-image field--type-entity-reference field--label-hidden field__item"><div> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <picture> <source media="all and (min-width: 1201px)" type="image/jpeg" width="2000" height="1334" data-srcset="/sites/default/files/styles/responsive_image_2000/public/media/image/real_estate.jpeg?itok=Q8_Y8GSG 1x"/> <source media="all and (min-width: 993px) and (max-width: 1200px)" type="image/jpeg" width="1200" height="800" data-srcset="/sites/default/files/styles/responsive_image_1200/public/media/image/real_estate.jpeg?itok=DpxUs20F 1x"/> <source media="all and (min-width: 577px) and (max-width: 768px)" type="image/jpeg" width="768" height="512" data-srcset="/sites/default/files/styles/responsive_image_768/public/media/image/real_estate.jpeg?itok=K8bCgXYf 1x"/> <img loading="eager" width="2000" height="1334" alt="Real Estate" class="lazyload" data-src="/sites/default/files/styles/responsive_image_2000/public/media/image/real_estate.jpeg?itok=Q8_Y8GSG" /> </picture> </div> </div> </div> </a> </div> </div> </section> </div> <div class="field field--name-field-blog-sections field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-t_post_info-269271" class="wrapper-t_post_info theme-default margin-bottom-default margin-top-default padding-bottom-default padding-top-default"> <div class="clearfix t-post-info paragraph content-moved-inside paragraph--type--t-post-info paragraph--view-mode--default"> <div class="t-post-info-inner"> <div class="t-post-info-content"> <div class="field field--name-field-t-post-info-content field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-d_p_text_paged-269270" class="wrapper-d_p_text_paged with-long-text margin-bottom-default margin-top-default padding-bottom-default padding-top-default theme-default"> <div class="clearfix paragraph text-page paragraph--type--d-p-text-paged paragraph--view-mode--default"> <div class="container"> <div class="clearfix text-formatted field field--name-field-d-long-text field--type-text-long field--label-hidden field__item"><p>Home ownership has long been a cornerstone of the American Dream. Yet for millions of Latino families, that dream has often required navigating disproportionately high financial barriers, including the hidden, lifelong costs tied to FHA mortgage insurance. The reintroduction of the Mortgage Insurance Freedom Act is set to change that. By eliminating a major long-term expense for FHA borrowers, this legislation supports a more level and sustainable path to building wealth within Latino communities. It also signals broader recognition that affordability challenges require structural reform, not just incremental adjustments.</p><h2>A Fairer Path for Latino Homebuyers</h2><p><a href="https://meeks.house.gov/media/press-releases/meeks-sessions-reintroduce-mortgage-insurance-freedom-act">The Mortgage Insurance Freedom Act</a> is one of the most meaningful steps Congress has taken to create a fairer environment for aspiring homebuyers—especially those who rely on FHA-backed loans. Under current rules, most FHA borrowers must pay mortgage insurance premiums (MIP) for the life of the loan, even after they’ve built considerable equity. This is in stark contrast to conventional mortgages, where private mortgage insurance typically drops off once a borrower’s principal balance reaches <a href="https://nahrep.org/housinghub/2025/02/13/easing-the-burden-the-case-for-reducing-fha-mortgage-insurance-costs/">78%</a> of their home’s value.</p><p>The Act brings FHA in line with this standard by ending MIP at the same threshold. The result is a measurable financial benefit that can save homeowners tens of thousands of dollars and accelerate long-term wealth building.</p><p>Latino homebuyers stand to benefit the most, as more than one-third rely on FHA financing due to flexible credit and down payment criteria. For many households, this shift may be the difference between simply maintaining a mortgage and having the financial margin to invest, save, or build generational wealth.</p><h2>The Real Challenge: Awareness and Action</h2><p>While it’s a step in the right direction, new legislation alone cannot open doors.</p><p>Imagine a family that has worked for years to build equity, only to continue paying unnecessary insurance premiums. It’s not because they’re required to, but because they never learn that the financial landscape has changed. This is the silent gap that often undermines well-intended policy.</p><p>A policy is only as powerful as a family’s ability to understand and act on it. This is especially true for the Latino community, where language access and financial literacy resources remain uneven. Many borrowers prefer to engage in Spanish, Spanglish, or culturally tailored content that reflects how they communicate at home. Without this, families may miss out on critical updates that directly affect their financial futures.</p><p>Translation is only the first step. Bridging this gap requires clear, culturally relevant communication delivered through the channels borrowers already use, including digital portals, contact centers, email notifications, mobile apps, and community-facing materials. It also requires proactive communication, because families rarely go searching for policy updates unless someone tells them the rules have changed.</p><h2>How Lenders Can Make This Moment Count</h2><p>��ɫ Financial helps lenders, servicers, and financial institutions make this new era of homeownership accessible to Latino families and the broader LEP community.</p><p>We support multilingual borrower outreach, culturally validated content, compliance-ready communications, and accessible digital experiences that work for every customer, regardless of their preferred language or level of financial literacy. This approach ensures that institutional messaging doesn’t just translate information, but actually reaches borrowers in a way that feels relevant and trustworthy.</p><p>As the Mortgage Insurance Freedom Act moves forward, the financial institutions that will lead the next chapter of homeownership equity are those that embrace the shift and act on it. They will welcome new communities, reflect cultural values, and build trust through clear, relevant communication. In this environment, inclusive communication is so much more than a legal requirement. It’s a competitive advantage that creates customers for life.</p><h2>The Time for Action Is Now</h2><p>We are on the brink of a more equitable era in homeownership. As the industry prepares for the ripple effects of this legislation, now is the time for mortgage lenders and servicers to review borrower journeys, enhance their communication strategies, and ensure their offerings truly support accessibility and inclusion. The opportunity is here, and how the industry responds will determine its impact. By acting early, institutions can meet compliance expectations while positioning themselves as trusted partners during a pivotal financial shift.</p><p>Our team can help you build the linguistic, cultural, and digital foundations that ensure every homebuyer benefits fully from this Act. <a href="http://www.transperfect.com/financial">Get in touch to learn more</a>. <br> </p></div> </div> </div> </section> </div> </div> </div> <div class="t-post-info-author"> <div class="t-post-info-author-image"> </div> <div class="t-post-info-author-content"> <div class="field field--name-field-t-post-info-author-name field--type-string field--label-hidden field__item">By The ��ɫ Financial Services Team</div> <div class="field field--name-field-t-post-info-author-pos field--type-string field--label-hidden field__item">Daniel Simon</div> </div> </div> </div> </div> </section> </div> </div> <div class="field field--name-field-blog-topic field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/blog/category/financial-services" hreflang="en">Financial Services</a></div> </div> <div class="field field--name-field-blog-industries-categories field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/resources/category/finance-banking" hreflang="en">Finance & Banking</a></div> </div> Thu, 04 Dec 2025 13:43:49 +0000 rbisht 65043 at /blog/ai-visibility-new-seo-financial-services <span class="field field--name-title field--type-string field--label-hidden">AI Visibility is the New SEO for Financial Services</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>rbisht</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2025-12-02T02:24:48-05:00" title="Tuesday, December 2, 2025 - 02:24" class="datetime">Tue, 12/02/2025 - 02:24</time> </span> <div class="field field--name-field-blog-category field--type-entity-reference field--label-hidden field__item">Blog</div> <div class="field field--name-field-blog-media-main field--type-entity-reference-revisions field--label-hidden field__item"> <section id="paragraph-t_com_image-269264" class="wrapper-t_com_image"> <div class="clearfix paragraph com-image paragraph--type--t-com-image paragraph--view-mode--default"> <div class="container"> <a href="/blog/ai-visibility-new-seo-financial-services"> <div class="field field--name-field-t-com-image field--type-entity-reference field--label-hidden field__item"><div> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <picture> <source media="all and (min-width: 1201px)" type="image/jpeg" width="2000" height="1335" data-srcset="/sites/default/files/styles/responsive_image_2000/public/media/image/ai-visibility-new-seo.jpeg?itok=FRh0OY7l 1x"/> <source media="all and (min-width: 993px) and (max-width: 1200px)" type="image/jpeg" width="1200" height="801" data-srcset="/sites/default/files/styles/responsive_image_1200/public/media/image/ai-visibility-new-seo.jpeg?itok=Hbc2za-1 1x"/> <source media="all and (min-width: 577px) and (max-width: 768px)" type="image/jpeg" width="768" height="513" data-srcset="/sites/default/files/styles/responsive_image_768/public/media/image/ai-visibility-new-seo.jpeg?itok=7ZRVhuKM 1x"/> <img loading="eager" width="2000" height="1335" alt="ai-visibility-new-seo" class="lazyload" data-src="/sites/default/files/styles/responsive_image_2000/public/media/image/ai-visibility-new-seo.jpeg?itok=FRh0OY7l" /> </picture> </div> </div> </div> </a> </div> </div> </section> </div> <div class="field field--name-field-blog-sections field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-t_post_info-269263" class="wrapper-t_post_info theme-default margin-bottom-default margin-top-default padding-bottom-default padding-top-default"> <div class="clearfix t-post-info paragraph content-moved-inside paragraph--type--t-post-info paragraph--view-mode--default"> <div class="t-post-info-inner"> <div class="t-post-info-content"> <div class="field field--name-field-t-post-info-content field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-d_p_text_paged-269262" class="wrapper-d_p_text_paged with-long-text margin-bottom-default margin-top-default padding-bottom-default padding-top-default theme-default"> <div class="clearfix paragraph text-page paragraph--type--d-p-text-paged paragraph--view-mode--default"> <div class="container"> <div class="clearfix text-formatted field field--name-field-d-long-text field--type-text-long field--label-hidden field__item"><p>The way consumers seek financial information is shifting fast.</p><p>Instead of searching, scrolling, and comparing websites, many people now ask an AI assistant a direct question:</p><ul><li>What’s the best credit card for travel rewards right now?</li><li>Which bank has the lowest HELOC rates?</li><li>How do I open a business account as a freelancer?</li></ul><p>The answer they receive—often a single, confident AI-generated paragraph—becomes their starting point. In many cases, it becomes their decision point.</p><p>If your institution isn’t included in that answer, you’re not part of the conversation.</p><p>This matters even more in financial services, where consumers expect clarity and trust. AI-generated responses pull from rate tables, product data, government sources, high-authority publishers, and multilingual content. If your information is incomplete, inconsistent, or harder to interpret than a competitor’s, the model will choose the clearer source.</p><p>The upshot? Visibility no longer starts with a search engine results page. It starts with the answer itself.  </p><h2>Why This Matters for Banks and Credit Unions</h2><p>More consumers are now turning to generative AI tools for financial questions. Instead of comparing pages of search results, they ask one question and rely on the single answer they receive. That answer is often influenced by information drawn from: </p><ul><li>Structured product and rate data</li><li>High-authority financial publishers</li><li>Government and regulatory sources</li><li>Affiliate sites like NerdWallet, Bankrate, and Finder</li><li>Clear, consistent multilingual content</li></ul><p>This is a major shift from how traditional SEO worked. Ranking on Google no longer guarantees visibility inside AI-generated answers, because AI models don’t “rank” webpages—they interpret data patterns, credibility, clarity, and consistency.</p><p>For financial institutions, this maters because your core differentiators—rates, fees, eligibility requirements, product features—are structured data points. If those details are mismatched across your website, mobile app, PDFs, affiliates, and regulatory disclosures, AI tools will default to whichever source appears most complete and consistent. That’s often not your owned channel.</p><p><strong>A Practical Example</strong></p><p>Ask an AI tool, “<em>Who has the best HELOC rates right now?</em>”</p><p>You won’t see a list of URLs. Instead, you’ll get a written summary built from whichever institutions provide the cleanest and most widely published information.</p><p>If your product data is unclear, out of date, or incorrectly represented by affiliates, AI models will simply skip you. And because AI responses compound over time as training data grows, invisibility today can turn into a lasting discovery gap.</p><p>This creates new competitive dynamics: smaller institutions with excellent data hygiene and well-managed affiliate content can outperform national brands inside AI answers—even if they don’t dominate traditional search rankings.</p><h4>The New Rules of AI Visibility</h4><p>Generative AI tools are shaping how consumers learn about financial products, so banks and credit unions need a clear strategy for how their information appears in those answers. ��ɫ’s AIO (Artificial Intelligence Optimization) framework helps institutions prepare by focusing on what these tools consistently favor: clarity, consistency, and accuracy. </p><p>Key elements include:</p><ul><li><strong>Monitoring your presence across major AI tools</strong> such as ChatGPT, Gemini, Copilot, and Perplexity to understand when and how your institution appears in responses.</li><li><strong>Improving product pages, rate tables, and comparison content</strong> so AI tools can easily read and rely on them.</li><li><strong>Correcting and aligning affiliate content</strong>, which often influences AI answers more than owned channels.</li><li><strong>Ensuring multilingual consistency</strong> so your information appears accurately across languages and markets.</li><li><strong>Tracking new visibility metrics</strong>, including: <ul><li>Prompt coverage</li><li>Share of voice inside AI answers</li><li>Citation depth and accuracy</li><li>Cross-market variation</li></ul></li></ul><p>This approach isn’t about trying to “game” an algorithm. It’s about creating a single source of truth that AI tools can reliably use. That includes structured product metadata, standardized rate formatting, consistent terminology across languages, and deeper collaboration between marketing, compliance, and product teams.</p><p>Traditional SEO helps you earn a place on a results page. <strong>AIO ensures you appear in the answer itself.</strong></p><p>Financial institutions that adapt now will influence not just what customers see, but how customers <em>think </em>about the category—because AI answers are shaping financial literacy, decision-making, and product comparison at scale.</p><h2>The Bottom Line</h2><p>The Financial Brand put it clearly: “<em><strong>Visibility happens before the click, inside the AI answer itself.</strong></em>”</p><p>For banks and credit unions, that shift has real impact. When consumers turn to AI tools for guidance, the information those tools surface becomes the starting point for financial decisions. Institutions with clear, consistent product data will shape those answers. Those without it risk being left out entirely. </p><p>Financial institutions that act now will define the answers customers see and win the next generation of digital discovery. Those who wait risk becoming invisible in a world where consumers no longer browse—they simply ask.</p><p>If you want to influence the AI answers your customers rely on, our team can help you build the strategy to get there. <a href="/contact">Let’s talk</a>.</p><p>If you’d like to read up on this more, refer to our sources below:</p><ol><li><a href="https://thefinancialbrand.com/news/digital-marketing-banking/search-marketing-is-now-about-visibility-not-clicks-meet-the-gatekeepers-193532?_hsenc=p2ANqtz-_nqQuPIA6WRuhNoFDBZUwCfk26Le2Vfyz25yCNvJFzTq6ZjacqjP3kR9ZLPQThKLhc5LO8CMvXa74XMcIApZc4-KdyCA&_hsmi=390176504">Financial Brand</a></li><li><a href="https://register.gotowebinar.com/recording/viewRecording/7866224391854639195/6199313087456824322/smadden@transperfect.com?registrantKey=6205959635206172250&type=ATTENDEEEMAILRECORDINGLINK">��ɫ Webinar</a></li></ol></div> </div> </div> </section> </div> </div> </div> <div class="t-post-info-author"> <div class="t-post-info-author-image"> </div> <div class="t-post-info-author-content"> <div class="field field--name-field-t-post-info-author-name field--type-string field--label-hidden field__item">By The ��ɫ Financial Services Team</div> <div class="field field--name-field-t-post-info-author-pos field--type-string field--label-hidden field__item">Michael Tierney</div> </div> </div> </div> </div> </section> </div> </div> <div class="field field--name-field-blog-topic field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/blog/category/financial-services" hreflang="en">Financial Services</a></div> </div> <div class="field field--name-field-blog-industries-categories field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/resources/category/finance-banking" hreflang="en">Finance & Banking</a></div> </div> Tue, 02 Dec 2025 07:24:48 +0000 rbisht 65042 at /blog/closing-banking-knowledge-gap-how-financial-institutions-can-support-newcomers-canada <span class="field field--name-title field--type-string field--label-hidden">Closing the Banking Knowledge Gap: How Financial Institutions Can Support Newcomers to Canada</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>rbisht</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2025-11-21T10:37:10-05:00" title="Friday, November 21, 2025 - 10:37" class="datetime">Fri, 11/21/2025 - 10:37</time> </span> <div class="field field--name-field-blog-category field--type-entity-reference field--label-hidden field__item">Blog</div> <div class="field field--name-field-blog-media-main field--type-entity-reference-revisions field--label-hidden field__item"> <section id="paragraph-t_com_image-269136" class="wrapper-t_com_image"> <div class="clearfix paragraph com-image paragraph--type--t-com-image paragraph--view-mode--default"> <div class="container"> <a href="/blog/closing-banking-knowledge-gap-how-financial-institutions-can-support-newcomers-canada"> <div class="field field--name-field-t-com-image field--type-entity-reference field--label-hidden field__item"><div> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <picture> <source media="all and (min-width: 1201px)" type="image/jpeg" width="2000" height="1333" data-srcset="/sites/default/files/styles/responsive_image_2000/public/media/image/Newcomers-to-Canada.jpeg?itok=ve4BubuD 1x"/> <source media="all and (min-width: 993px) and (max-width: 1200px)" type="image/jpeg" width="1200" height="800" data-srcset="/sites/default/files/styles/responsive_image_1200/public/media/image/Newcomers-to-Canada.jpeg?itok=rFdtVQ90 1x"/> <source media="all and (min-width: 577px) and (max-width: 768px)" type="image/jpeg" width="768" height="512" data-srcset="/sites/default/files/styles/responsive_image_768/public/media/image/Newcomers-to-Canada.jpeg?itok=HqH-0MTI 1x"/> <img loading="eager" width="2000" height="1333" alt="Newcomers to Canada" class="lazyload" data-src="/sites/default/files/styles/responsive_image_2000/public/media/image/Newcomers-to-Canada.jpeg?itok=ve4BubuD" /> </picture> </div> </div> </div> </a> </div> </div> </section> </div> <div class="field field--name-field-blog-sections field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-t_post_info-269139" class="wrapper-t_post_info theme-default margin-bottom-default margin-top-default padding-bottom-default padding-top-default"> <div class="clearfix t-post-info paragraph content-moved-inside paragraph--type--t-post-info paragraph--view-mode--default"> <div class="t-post-info-inner"> <div class="t-post-info-content"> <div class="field field--name-field-t-post-info-content field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-d_p_text_paged-269138" class="wrapper-d_p_text_paged with-long-text margin-bottom-default margin-top-default padding-bottom-default padding-top-default theme-default"> <div class="clearfix paragraph text-page paragraph--type--d-p-text-paged paragraph--view-mode--default"> <div class="container"> <div class="clearfix text-formatted field field--name-field-d-long-text field--type-text-long field--label-hidden field__item"><p>According to <a href="https://stories.td.com/ca/en/news/2025-07-28-new-td-survey-reveals-76-25-of-newcomers-polled-fear-making-fi">TD Bank’s</a> Canada Newcomers 2025 survey, 38% of newcomers reported little to no understanding of the banking system in Canada and how to manage their money. Just over half of newcomers (51%) reported little to no understanding of how to invest their money in Canada, and 41% reported they lacked confidence about saving and investing. </p><p>As a result, newcomers have less knowledge about investing and engaging with the Canadian banking system. That’s where banks can make a meaningful difference. </p><p><strong>The Playbook for Banks in Canada: Reduce Friction, Raise Confidence</strong></p><p>While TD Bank’s survey on newcomers reveals a troubling gap, banks have an opportunity to close it. By following a playbook that reduces friction and raises confidence for newcomers, banks can support them as they settle into Canadian life. </p><p>The playbook is based on three principles: </p><ul><li>Plain-language onboarding</li><li>Culturally relevant education</li><li>Multilingual, omnichannel support</li></ul><h2>Plain-Language Onboarding</h2><p>Opening a bank account can be complicated. Add a language barrier, and customers can quickly feel confused or uncertain. </p><p>There’s a way to create a customer experience that makes newcomers feel welcome and valued. Providing in-language support during onboarding helps newcomers understand key details such as fee structures, account setup, and investment options.</p><p>For example, if you offer instructional videos on how to set up an account or explain what a registered retirement savings plan (RRSP) is, make those videos available in the languages your newcomer customers speak most often. This approach bridges knowledge gaps and reinforces that these customers are welcome and understood. </p><h2>Culturally Relevant Education</h2><p>Another way to bridge the knowledge gap is by offering culturally relevant education. </p><p>This can start with your digital marketing. Multicultural campaigns that speak directly to newcomers show your bank’s commitment to supporting them as they settle into Canada.</p><p>You might post scenario-based guides on your website (for example, “Sending Money Home”). A dedicated hub on your website could also be a great way to reach newcomers. It might include checklists on opening or managing accounts, and resources that explain the basics of banking in Canada. </p><p>If you’re taking a visual-first approach—prioritizing short social videos, for instance—consider posting clips with subtitles or voiceovers in top newcomer languages. This helps capture attention while making key concepts easier to understand. </p><p>Webinars with AI-powered interpretation in top newcomer languages are another way to share culturally relevant messages. By offering educational webinars, you position your bank as one that helps newcomers adapt to life in Canada. </p><h2>Multilingual, Omnichannel Support </h2><p>Meet newcomers to Canada where they are by offering multilingual, omnichannel support. </p><p>Providing in-language chat or voice support during online onboarding—and having in-person staff who can assist in the customer’s preferred language—gives newcomers the clarity they need to manage their accounts. Branch interpreters or video language access services can further reduce comprehension gaps and help advisors walk customers through key steps.</p><p>Omnichannel support can also include a persistent language toggle on your website and mobile app, ensuring newcomers can access information in their language at any time. </p><p>Finally, consistent translations across contracts, alerts, and statements build reassurance and trust. When communications are accurate and relevant, newcomers feel confident relying on your institution.</p><h2>How ��ɫ Can Help </h2><p>��ɫ helps financial institutions connect with newcomers to Canada through translation, interpretation, and digital solutions. </p><p>We translate key financial terms into the most widely spoken newcomer languages to close comprehension gaps and boost customer confidence. Our interpreters and in-language support staff speak your customers’ languages, helping them feel at home from day one.</p><p><a href="https://globallink.transperfect.com/">GlobalLink</a>—our award-winning technology suite combining translation, AI-powered content creation, workflow automation, and system integrations—ensures your content performs consistently across markets. With faster localization timelines, you can launch sooner and help Canadian newcomers bank with confidence.</p><p>The experts at ��ɫ Digital can also guide you on which newcomer languages to prioritize, identify gaps in your current language strategy, and recommend targeted improvements to strengthen communication across channels.</p><h2>Build Trust with Newcomer Customers Through In-Language Support </h2><p>Newcomers to Canada want to engage with the Canadian banking system, but knowledge gaps can create barriers. You can bridge those gaps by offering in-language support when customers need it most—whether they’re online, on the phone, or in the branch. By doing so, you’ll deliver better service, foster trust, and build lasting relationships with newcomers.</p><p><a href="/industries/finance-and-banking">Learn how ��ɫ can help you close the confidence gap for your customers.</a><br> </p></div> </div> </div> </section> </div> </div> </div> <div class="t-post-info-author"> <div class="t-post-info-author-image"> </div> <div class="t-post-info-author-content"> <div class="field field--name-field-t-post-info-author-name field--type-string field--label-hidden field__item">By ��ɫ Financial Services</div> <div class="field field--name-field-t-post-info-author-pos field--type-string field--label-hidden field__item">Brianna Farrell</div> </div> </div> </div> </div> </section> </div> </div> <div class="field field--name-field-blog-topic field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/blog/category/financial-services" hreflang="en">Financial Services</a></div> </div> <div class="field field--name-field-blog-industries-categories field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/resources/category/finance-banking" hreflang="en">Finance & Banking</a></div> </div> Fri, 21 Nov 2025 15:37:10 +0000 rbisht 65012 at /blog/7-key-takeaways-nahreps-avance-global-conference-2025 <span class="field field--name-title field--type-string field--label-hidden"> 7 Key Takeaways from NAHREP’s AVANCE Global Conference 2025</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>tanvi.channe</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2025-10-09T01:55:58-04:00" title="Thursday, October 9, 2025 - 01:55" class="datetime">Thu, 10/09/2025 - 01:55</time> </span> <div class="field field--name-field-blog-category field--type-entity-reference field--label-hidden field__item">Blog</div> <div class="field field--name-field-blog-media-main field--type-entity-reference-revisions field--label-hidden field__item"> <section id="paragraph-t_com_image-261637" class="wrapper-t_com_image"> <div class="clearfix paragraph com-image paragraph--type--t-com-image paragraph--view-mode--default"> <div class="container"> <a href="/blog/7-key-takeaways-nahreps-avance-global-conference-2025"> <div class="field field--name-field-t-com-image field--type-entity-reference field--label-hidden field__item"><div> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <picture> <source media="all and (min-width: 1201px)" type="image/jpeg" width="1000" height="562" data-srcset="/sites/default/files/styles/responsive_image_2000/public/media/image/image%20%2812%29.jpg?itok=2l-_XO5u 1x"/> <source media="all and (min-width: 993px) and (max-width: 1200px)" type="image/jpeg" width="1000" height="562" data-srcset="/sites/default/files/styles/responsive_image_1200/public/media/image/image%20%2812%29.jpg?itok=9a0dEBJA 1x"/> <source media="all and (min-width: 577px) and (max-width: 768px)" type="image/jpeg" width="768" height="432" data-srcset="/sites/default/files/styles/responsive_image_768/public/media/image/image%20%2812%29.jpg?itok=GyYnRLba 1x"/> <img loading="eager" width="1000" height="562" alt="1234" class="lazyload" data-src="/sites/default/files/styles/responsive_image_2000/public/media/image/image%20%2812%29.jpg?itok=2l-_XO5u" /> </picture> </div> </div> </div> </a> </div> </div> </section> </div> <div class="field field--name-field-blog-sections field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-t_post_info-260972" class="wrapper-t_post_info theme-default margin-bottom-default margin-top-default padding-bottom-default padding-top-default"> <div class="clearfix t-post-info paragraph content-moved-inside paragraph--type--t-post-info paragraph--view-mode--default"> <div class="t-post-info-inner"> <div class="t-post-info-content"> <div class="field field--name-field-t-post-info-content field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-d_p_text_paged-260971" class="wrapper-d_p_text_paged with-long-text margin-bottom-default margin-top-default padding-bottom-default padding-top-default theme-default"> <div class="clearfix paragraph text-page paragraph--type--d-p-text-paged paragraph--view-mode--default"> <div class="container"> <div class="clearfix text-formatted field field--name-field-d-long-text field--type-text-long field--label-hidden field__item"><p>At this year’s NAHREP AVANCE Global Conference, the ��ɫ Financial Services team joined an inspiring mix of leaders from real estate, entertainment, and professional sports—all united by one goal: advancing equity and opportunity within the Latino/Hispanic community. The conversations highlighted this demographic’s growing scale, influence, and economic power, while offering insights we’ll use to help clients strengthen their Hispanic market strategies. Here are seven takeaways that stood out.</p><h2>1. 65 Million+ Hispanic/Latinos in the US</h2><p>This population is growing in size and influence. AVANCE attendees represent a who’s who of tomorrow’s business leaders, demonstrating why a thoughtful, strategic Hispanic market approach is critical for businesses looking to stay ahead.</p><h2>2. An Evolving Demographic</h2><p>Ten years ago, conversations focused primarily on homeownership. Today, AVANCE features private wealth groups and entrepreneurs—evidence that Hispanic households are accumulating assets and influence. This evolution signals new opportunities for businesses to support wealth creation beyond entry-level housing.</p><h2>3. A Creative and Collaborative Spirit</h2><p>“How can I empower my community and provide the right financial solutions?” was a question echoed throughout the event. Transparent, creative, and collaborative conversations sparked fresh ideas and underscored the power of shared learning and collective success.</p><h2>4. A Strong Sense of Community</h2><p>Community remains central to the Hispanic identity. AVANCE emphasizes connection and contribution, with new programs for the adult children of attendees to foster innovation and entrepreneurship. Both professionals and next-generation leaders leave empowered to celebrate achievements and continue promoting growth within the community.</p><h2>5. A Truly Engaging Industry Event</h2><p>AVANCE stands out for being both impactful and fun. The energy is high, but the focus remains on driving meaningful change and expanding opportunity within the Hispanic community.</p><h2>6. The American Dream in Action</h2><p>NBC Nightly News Correspondent Tom Llamas reminded attendees that the American Dream is alive and achievable. NAHREP’s <em>State of Hispanic Wealth</em> report reinforced this point: Hispanic-owned businesses are the fastest-growing segment of small businesses, creating jobs, expanding opportunity, and strengthening the US economy.</p><h2>7. The Path Forward</h2><p>Looking ahead, two priorities stand out: helping Hispanic/Latino small businesses as they scale from solopreneurship to full-fledged entrepreneurship, and helping families preserve generational wealth through thoughtful asset management and financial planning.</p><h2>Partnering for Inclusive Growth</h2><p>AVANCE 2025 reinforced the tremendous influence and potential of the Hispanic/Latino community. By fostering collaboration, innovation, and strategic growth, businesses can play a pivotal role in supporting this vibrant market—and learn from its leaders and next-generation innovators. We left inspired, motivated, and ready to help our clients connect meaningfully with this growing audience.</p><!-- Primary CTA --><p><strong>Ready to grow your reach in the Hispanic market?</strong> Reach out to us <a href="/industries/finance-and-banking" target="_blank">here</a>.</p></div> </div> </div> </section> </div> </div> </div> <div class="t-post-info-author"> <div class="t-post-info-author-image"> </div> <div class="t-post-info-author-content"> <div class="field field--name-field-t-post-info-author-name field--type-string field--label-hidden field__item">Isabella Martel</div> <div class="field field--name-field-t-post-info-author-pos field--type-string field--label-hidden field__item">Director, Strategic Accounts at ��ɫ</div> <div class="field field--name-field-t-post-info-author-desc field--type-string-long field--label-hidden field__item">The ��ɫ Financial Team</div> </div> </div> </div> </div> </section> </div> </div> <div class="field field--name-field-blog-topic field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/blog/category/financial-services" hreflang="en">Financial Services</a></div> </div> <div class="field field--name-field-blog-industries-categories field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/resources/category/finance-banking" hreflang="en">Finance & Banking</a></div> </div> Thu, 09 Oct 2025 05:55:58 +0000 tanvi.channe 62994 at /blog/newcomers-canada-and-financial-confidence-gap-what-banks-insurers-need-know <span class="field field--name-title field--type-string field--label-hidden">Newcomers to Canada and the Financial Confidence Gap: What Banks & Insurers Need to Know</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>tanvi.channe</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2025-10-06T01:42:11-04:00" title="Monday, October 6, 2025 - 01:42" class="datetime">Mon, 10/06/2025 - 01:42</time> </span> <div class="field field--name-field-blog-category field--type-entity-reference field--label-hidden field__item">Blog</div> <div class="field field--name-field-blog-media-main field--type-entity-reference-revisions field--label-hidden field__item"> <section id="paragraph-t_com_image-260963" class="wrapper-t_com_image"> <div class="clearfix paragraph com-image paragraph--type--t-com-image paragraph--view-mode--default"> <div class="container"> <a href="/blog/newcomers-canada-and-financial-confidence-gap-what-banks-insurers-need-know"> <div class="field field--name-field-t-com-image field--type-entity-reference field--label-hidden field__item"><div> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <picture> <source media="all and (min-width: 1201px)" type="image/jpeg" width="2000" height="1333" data-srcset="/sites/default/files/styles/responsive_image_2000/public/media/image/blog-fs%20%281%29%20%281%29.jpg?itok=HRHQrUCM 1x"/> <source media="all and (min-width: 993px) and (max-width: 1200px)" type="image/jpeg" width="1200" height="800" data-srcset="/sites/default/files/styles/responsive_image_1200/public/media/image/blog-fs%20%281%29%20%281%29.jpg?itok=s2JZcGGP 1x"/> <source media="all and (min-width: 577px) and (max-width: 768px)" type="image/jpeg" width="768" height="512" data-srcset="/sites/default/files/styles/responsive_image_768/public/media/image/blog-fs%20%281%29%20%281%29.jpg?itok=gJGyIept 1x"/> <img loading="eager" width="2000" height="1333" alt="Banking & Insurance in Canada" class="lazyload" data-src="/sites/default/files/styles/responsive_image_2000/public/media/image/blog-fs%20%281%29%20%281%29.jpg?itok=HRHQrUCM" /> </picture> </div> </div> </div> </a> </div> </div> </section> </div> <div class="field field--name-field-blog-sections field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-t_post_info-260966" class="wrapper-t_post_info theme-default margin-bottom-default margin-top-default padding-bottom-default padding-top-default"> <div class="clearfix t-post-info paragraph content-moved-inside paragraph--type--t-post-info paragraph--view-mode--default"> <div class="t-post-info-inner"> <div class="t-post-info-content"> <div class="field field--name-field-t-post-info-content field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-d_p_text_paged-260965" class="wrapper-d_p_text_paged with-long-text margin-bottom-default margin-top-default padding-bottom-default padding-top-default theme-default"> <div class="clearfix paragraph text-page paragraph--type--d-p-text-paged paragraph--view-mode--default"> <div class="container"> <div class="clearfix text-formatted field field--name-field-d-long-text field--type-text-long field--label-hidden field__item"><p>For banks and insurers, serving newcomers isn’t just about opening an account or purchasing coverage—it’s about building confidence. Newcomers to Canada are eager to engage, but they face real challenges understanding financial systems and trusting advice. That lack of confidence directly impacts participation in saving, investing, and protecting their families. Recent research highlights just how wide this gap is, and why financial institutions need to act now.</p><h3>Banking for Newcomers to Canada: The Confidence Gap at a Glance</h3><p>According to <a href="https://stories.td.com/ca/en/news/2025-07-28-new-td-survey-reveals-76-25-of-newcomers-polled-fear-making-fi">TD Bank</a>’s Canada Newcomers 2025 survey, newcomers report higher financial anxiety than the general population. More than three in four (76%) worry about making a financial mistake, compared with 68% of the general population. They’re also less familiar with Canada’s financial systems: 38% say they have little or no understanding of banking basics and 51% say the same about investing. This uncertainty doesn’t just affect newcomers; it also reduces engagement with core financial products, delaying key decisions on saving, investing, and protection. Programs specifically designed for newcomers to Canada can bridge the gap and accelerate confidence.</p><p>This combination of financial stress, limited knowledge, and reluctance to ask for help shows that while newcomers are eager to engage, they face a steep learning curve. For banks in Canada, the message is clear: without proactive, culturally aware support, trust can erode at the very first interaction.</p><h3>Insurance Lens: Confidence and Coverage Gaps</h3><p>A companion survey from <a href="https://www.securiancanada.ca/content/dam/doc/sc/securian-canada-new-comers-report.pdf">Securian Canada</a> revealed that newcomers face an even deeper confidence gap when it comes to insurance. Fewer than half (49%) feel confident navigating their options, and only 9% describe themselves as “very confident.” Many worry about being misled (42%) or cite the cost and complexity of advice (33%) as barriers.</p><p>Coverage is another area of concern. One in five newcomers report having no insurance at all, and nearly 60% are underinsured. That includes a quarter without health or dental coverage and 40% of employed newcomers lacking disability insurance. For families, these gaps can translate into medical bills or lost wages without any safety net.</p><p>But newcomers do bring clear expectations about how they want to engage. More than half (53%) prefer to buy insurance online, and many express interest in tools for claims (39%), personalized recommendations (36%), and 24/7 support (36%). This digital-first mindset creates both a challenge and an opportunity: Providers that deliver seamless online experiences will gain loyalty, while those that lag risk losing relevance.</p><h3>Why This Matters</h3><p>The takeaway from both surveys is clear: confidence drives participation. When newcomers to Canada feel uncertain about banking or insurance, they hold back from saving, investing, and protecting themselves. But when institutions step in with clear guidance, trust-building support, and accessible tools, confidence grows—and so does economic participation. For banks and insurers, that gap represents an opportunity to build lasting trust and loyalty by focusing on three priorities:</p><ul><li><strong>Clarity:</strong> Plain-language, in-language resources that demystify banking, investing, and coverage basics. For example, a short multilingual video explaining credit scores can help newcomers avoid costly mistakes.</li><li><strong>Trust:</strong> Transparent advice and easy access to human help when customers need it. This might mean offering dedicated newcomer advisors or contact-center lines in multiple languages.</li><li><strong>Growth:</strong> Confident customers not only make better financial decisions, they also contribute more fully to Canada’s long-term economic growth.</li></ul><h3>Closing the Confidence Gap</h3><p>Newcomers don’t just need products, they need confidence. That confidence comes from being able to understand their options, get guidance they can trust, and manage their finances in ways that fit their lives. For banks and insurers, that means:</p><ul><li><strong>Support</strong> in multiple languages—whether in branches, over the phone, or online.</li><li><strong>Financial literacy resources</strong> that explain banking, investing, and insurance in plain, accessible language.</li><li><strong>Digital-first tools</strong> that make it simple to manage accounts, file claims, or ask questions anytime.</li></ul><p>At ��ɫ, we help financial institutions make this happen. Through multilingual content, seamless onboarding, and customer support, we partner with banks and insurers to build trust, remove barriers, and empower newcomers to thrive.</p><p><a href="/industries/finance-and-banking" target="_blank" rel="noopener noreferrer">Learn how we can help you close the confidence gap for your customers.</a></p></div> </div> </div> </section> </div> </div> </div> <div class="t-post-info-author"> <div class="t-post-info-author-image"> </div> <div class="t-post-info-author-content"> <div class="field field--name-field-t-post-info-author-name field--type-string field--label-hidden field__item">By Brianna Farrell</div> <div class="field field--name-field-t-post-info-author-pos field--type-string field--label-hidden field__item">Director of Strategic Accounts- Financial Services</div> </div> </div> </div> </div> </section> </div> </div> <div class="field field--name-field-blog-topic field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/blog/category/financial-services" hreflang="en">Financial Services</a></div> </div> <div class="field field--name-field-blog-industries-categories field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/resources/category/finance-banking" hreflang="en">Finance & Banking</a></div> </div> Mon, 06 Oct 2025 05:42:11 +0000 tanvi.channe 62992 at /blog/hispanic-heritage-month-time-reflection-financial-service-organizations-10-questions-ask <span class="field field--name-title field--type-string field--label-hidden">Hispanic Heritage Month: A Time of Reflection for Financial Service Organizations. 10 questions to ask yourself</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>juan.gonzalez</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2025-08-26T13:46:25-04:00" title="Tuesday, August 26, 2025 - 13:46" class="datetime">Tue, 08/26/2025 - 13:46</time> </span> <div class="field field--name-field-blog-category field--type-entity-reference field--label-hidden field__item">Blog</div> <div class="field field--name-field-blog-media-main field--type-entity-reference-revisions field--label-hidden field__item"> <section id="paragraph-t_com_image-226421" class="wrapper-t_com_image"> <div class="clearfix paragraph com-image paragraph--type--t-com-image paragraph--view-mode--default"> <div class="container"> <a href="/blog/hispanic-heritage-month-time-reflection-financial-service-organizations-10-questions-ask"> <div class="field field--name-field-t-com-image field--type-entity-reference field--label-hidden field__item"><div> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <picture> <source media="all and (min-width: 1201px)" type="image/jpeg" width="1500" height="857" data-srcset="/sites/default/files/styles/responsive_image_2000/public/media/image/Hispanic-Heritage-Month2.jpg?itok=-BLhFci7 1x"/> <source media="all and (min-width: 993px) and (max-width: 1200px)" type="image/jpeg" width="1200" height="686" data-srcset="/sites/default/files/styles/responsive_image_1200/public/media/image/Hispanic-Heritage-Month2.jpg?itok=HpwXfu7L 1x"/> <source media="all and (min-width: 577px) and (max-width: 768px)" type="image/jpeg" width="768" height="439" data-srcset="/sites/default/files/styles/responsive_image_768/public/media/image/Hispanic-Heritage-Month2.jpg?itok=JLWVcp0l 1x"/> <img loading="eager" width="1500" height="857" alt="Hispanic Heritage Month" class="lazyload" data-src="/sites/default/files/styles/responsive_image_2000/public/media/image/Hispanic-Heritage-Month2.jpg?itok=-BLhFci7" /> </picture> </div> </div> </div> </a> </div> </div> </section> </div> <div class="field field--name-field-blog-sections field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-t_post_info-226424" class="wrapper-t_post_info theme-default margin-bottom-default margin-top-default padding-bottom-default padding-top-default"> <div class="clearfix t-post-info paragraph content-moved-inside paragraph--type--t-post-info paragraph--view-mode--default"> <div class="t-post-info-inner"> <div class="t-post-info-content"> <div class="field field--name-field-t-post-info-content field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-d_p_text_paged-226423" class="wrapper-d_p_text_paged with-long-text margin-bottom-default margin-top-default padding-bottom-default padding-top-default theme-default"> <div class="clearfix paragraph text-page paragraph--type--d-p-text-paged paragraph--view-mode--default"> <div class="container"> <div class="clearfix text-formatted field field--name-field-d-long-text field--type-text-long field--label-hidden field__item"><p>Hispanic Heritage Month is here, and from September 15 to October 15, it is once again time to honor the rich and diverse contributions Hispanic and Latin Americans have woven into the fabric of the United States. While this month is a time for celebration, it should also serve as a time of reflection for Financial Service organizations. <span> </span>With Financial Services historically being so English language focused, every single financial organization has room to improve the support they provide to the Hispanic population they serve.<o:p></o:p></p><p>We have a prepared ten questions for your reflection: <span> </span><o:p></o:p></p><ul style="list-style-type:disc;"><li>What are we doing during Hispanic Heritage Month to celebrate our Hispanic employees and customers? <o:p></o:p></li><li>Do we offer in-language Spanish talk or chat support for Hispanic customers when they have an issue or need?<o:p></o:p></li><li>Are our website, online banking platform, ATM, and app optimized to support the Hispanic population we serve? <o:p></o:p></li><li>Do we offer any of our disclosures, loan applications, account information, etc. in Spanish? <o:p></o:p></li><li>How often do we provide in-language financial education assets to the Hispanic population?<o:p></o:p></li><li>Do our Hispanic customers see a reflection of themselves in our employees or marketing campaigns? <o:p></o:p></li><li>Do we keep track of our customer’s language preferences?<o:p></o:p></li><li>Do we monitor Hispanic customer acquisition and attrition? <o:p></o:p></li><li>What are we doing as an organization to support our Hispanic customers better than our peers? <o:p></o:p></li><li>Why should the Hispanic community want to bank with us? <o:p></o:p></li></ul><p>If the answer for your organization is “no” or “I’m not sure” to at least one question above, it’s time to reach out to a ��ɫ Finance expert to learn how to better service a population so integral to the economic growth of the United States. <o:p></o:p></p><p>To chat more, reach out to us <a href="/industries/finance-and-banking" target="_blank">here</a>! <o:p></o:p></p></div> </div> </div> </section> </div> </div> </div> <div class="t-post-info-author"> <div class="t-post-info-author-image"> </div> <div class="t-post-info-author-content"> <div class="field field--name-field-t-post-info-author-name field--type-string field--label-hidden field__item">Isabella Martel</div> <div class="field field--name-field-t-post-info-author-pos field--type-string field--label-hidden field__item">Director of Strategic Accounts, Financial Services</div> </div> </div> </div> </div> </section> </div> </div> <div class="field field--name-field-blog-topic field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/blog/category/financial-services" hreflang="en">Financial Services</a></div> </div> <div class="field field--name-field-blog-industries-categories field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/resources/category/finance-banking" hreflang="en">Finance & Banking</a></div> </div> Tue, 26 Aug 2025 17:46:25 +0000 juan.gonzalez 54693 at /blog/how-ai-revolutionizing-fraud-detection-regional-community-banks-and-credit-unions <span class="field field--name-title field--type-string field--label-hidden">How AI is Revolutionizing Fraud Detection for Regional & Community Banks and Credit Unions</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>tanvi.channe</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2025-05-21T02:54:49-04:00" title="Wednesday, May 21, 2025 - 02:54" class="datetime">Wed, 05/21/2025 - 02:54</time> </span> <div class="field field--name-field-blog-category field--type-entity-reference field--label-hidden field__item">Blog</div> <div class="field field--name-field-blog-media-main field--type-entity-reference-revisions field--label-hidden field__item"> <section id="paragraph-t_com_image-247193" class="wrapper-t_com_image"> <div class="clearfix paragraph com-image paragraph--type--t-com-image paragraph--view-mode--default"> <div class="container"> <a href="/blog/how-ai-revolutionizing-fraud-detection-regional-community-banks-and-credit-unions"> <div class="field field--name-field-t-com-image field--type-entity-reference field--label-hidden field__item"><div> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <picture> <source media="all and (min-width: 1201px)" type="image/jpeg" width="450" height="300" data-srcset="/sites/default/files/styles/responsive_image_2000/public/media/image/big-AiFraud_blogimage.jpg?itok=w1i2_PXj 1x"/> <source media="all and (min-width: 993px) and (max-width: 1200px)" type="image/jpeg" width="450" height="300" data-srcset="/sites/default/files/styles/responsive_image_1200/public/media/image/big-AiFraud_blogimage.jpg?itok=bqSex-9D 1x"/> <source media="all and (min-width: 577px) and (max-width: 768px)" type="image/jpeg" width="450" height="300" data-srcset="/sites/default/files/styles/responsive_image_768/public/media/image/big-AiFraud_blogimage.jpg?itok=__yXd-Gx 1x"/> <img loading="eager" width="450" height="300" alt="LMK" class="lazyload" data-src="/sites/default/files/styles/responsive_image_2000/public/media/image/big-AiFraud_blogimage.jpg?itok=w1i2_PXj" /> </picture> </div> </div> </div> </a> </div> </div> </section> </div> <div class="field field--name-field-blog-sections field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-t_post_info-246553" class="wrapper-t_post_info theme-default margin-bottom-default margin-top-default padding-bottom-default padding-top-default"> <div class="clearfix t-post-info paragraph content-moved-inside paragraph--type--t-post-info paragraph--view-mode--default"> <div class="t-post-info-inner"> <div class="t-post-info-content"> <div class="field field--name-field-t-post-info-content field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-d_p_text_paged-246552" class="wrapper-d_p_text_paged with-long-text margin-bottom-default margin-top-default padding-bottom-default padding-top-default theme-default"> <div class="clearfix paragraph text-page paragraph--type--d-p-text-paged paragraph--view-mode--default"> <div class="container"> <div class="clearfix text-formatted field field--name-field-d-long-text field--type-text-long field--label-hidden field__item"><p>Fraud isn’t a new challenge for banks, but the increasing sophistication of schemes and scams is leaving financial institutions—particularly smaller ones—scrambling to protect themselves.</p><p>Beyond being a persistent threat, fraud is also expensive. According to a 2024 <a href="https://risk.lexisnexis.com/about-us/press-room/press-release/20240424-tcof-financial-services-lending" target="_blank">study by LexisNexis Risk ��ɫ</a>, for every $1 lost to fraud, US banks spend $4.41 in related expenses, including legal fees and recovery—a 9% year-over-year increase. And the costs go beyond dollars: 79% of respondents in the study said fraud makes it harder to win customer trust.</p><p>AI is getting smarter—and that’s helping banks stop fraud before it happens. For smaller banks that don’t have large, in-house fraud teams, the contact center can be a powerful first line of defense. That’s why it’s so important to have an AI-enabled contact center partner—one that can detect suspicious activity, respond in real time, and protect customers when it matters most.</p><p>This blog post explores:</p><ul><li>The evolving fraud landscape for community and regional banks</li><li>The evolving fraud landscape for community and regional banks</li><li>How an AI-enabled contact center partner like ��ɫ Connect can help banks fight fraud, reduce customer loss, improve customer fidelity, and limit liability</li></ul><h2>The Fraud Landscape in Banking</h2><p>Fraudsters rely on methods like spoofing, social engineering, and data harvesting to carry out their schemes. In the earlier days of fraud detection, banks took a more reactive approach, using methods like manual account review and rules-based logic to identify suspicious activity. But these methods have pitfalls, including false positives, detection delays, and limited contextual analysis. Addressing fraud only after it has occurred can lead to significant financial losses and reputational damage.</p><p>However, limited financial resources can make it challenging for smaller banks to allocate funds for fraud-detection technology. Advanced fraud-detection systems can be expensive, and may not integrate with banks’ legacy systems and more limited IT capabilities. And even if the technology is within reach, implementation requires skills and expertise in data science, cybersecurity, and financial fraud—not to mention the cost of training employees on fraud detection.</p><h3>What Are Some Common Fraud Schemes That Threaten Banks?</h3><p><strong>Phishing and Social Engineering</strong>: Fraudsters use deceptive emails, phone calls, or text messages to trick employees or customers into revealing sensitive information, such as login credentials or account numbers. This information can then be used for unauthorized transactions.</p><p><strong>Pharming</strong>: Attackers redirect users from legitimate banking websites to fraudulent ones to capture login details and other sensitive information</p><p><strong>Credential Stuffing</strong>: Using credentials obtained from data breaches, attackers attempt to gain unauthorized access to bank accounts</p><p><strong>Account Takeover</strong>: Cybercriminals gain control of bank customer accounts through stolen credentials obtained via phishing, malware, or social engineering, allowing them to conduct unauthorized transactions.</p><p><strong>Fake Check Scams</strong>: Fraudsters use counterfeit checks drawn on valid bank accounts. These checks are initially accepted by the bank, but the fraudsters disappear with the funds before the scam is detected.</p><p><strong>Loan Fraud</strong>: Criminals submit fraudulent loan applications using stolen identities or fake documents to secure loans they never intend to repay.</p><p><strong>Insider Threats</strong>: Bank employees may misuse their access to embezzle funds, manipulate accounts, or conduct unauthorized transactions, either under external duress or for personal gain.</p><h2>AI Fraud Detection: The Contact Center’s Secret Weapon</h2><p>Fraudulent schemes may be getting more sophisticated, but so is the AI technology used to fight them. AI systems can now integrate and analyze data from multiple sources—including transaction data, user behavior, device information, and external databases¬—to provide a comprehensive view of potential fraud risks. This allows for a shift from reactive fraud measures to proactive prevention, intercepting fraud before it reaches the customer. Machine learning, neural linguistic programming, and generative AI models continuously learn and adapt to new types of fraud as they arise, improving their accuracy over time.</p><p>Financial institutions are using AI not only to identify fraudulent activity but also to instantly alert fraud detection teams or automatically take actions such as freezing accounts, declining transactions, or requiring additional authentication. AI can predict the likelihood of fraud before it occurs by identifying emerging patterns and trends indicative of fraudulent behavior. These advancements enable banks to stay ahead of fraudsters, ensuring security and preserving customer trust.</p><p>Here are some ways AI helps banks detect suspicious activity and thwart fraud before it happens:</p><ul><li><strong>Behavioral Analytics</strong>: Analyzes user habits and creates profiles of customer behavior based on transaction patterns and spending habits, flagging transactions that don’t fit typical behavior.</li><li><strong>Voice Stress Detection</strong>:AI tools analyze vocal tones during customer calls to detect stress or deception, helping call center agents identify potential fraud attempts.</li><li><strong>Anomaly Detection/Unusual Transaction Patterns</strong>: AI establishes a baseline for normal transaction behavior and flags anomalies in real time. Algorithms detect significant deviations from a customer’s usual spending habits, triggering immediate reviews.</li><li><strong>Data Mismatches</strong>: : AI tools cross-reference customer information across databases to identify discrepancies that may indicate account takeovers.</li><li><strong>Textual Analysis</strong>: AI identifies suspicious keywords, behaviors, or requests during customer service chats and other text-based channels, including emails, social media, and online forums.</li><li><strong>Image and Video Analysis</strong>: AI-powered image recognition detects counterfeit documents, manipulated images, and deepfake videos used in identity fraud and other scams.</li><li><strong>False Positive Reduction</strong>: AI techniques significantly reduce false positives by more accurately distinguishing between legitimate and fraudulent activities.</li></ul><h2>��ɫ Connect: Your AI Partner in Fighting Fraud</h2><p>With fraud tactics evolving quickly, many institutions are looking for smarter, faster solutions.</p><p>Ready to transform your bank’s contact center into an AI-powered fraud-fighting machine? You don’t have to go it alone. Armed with contact center and AI expertise, ��ɫ Connect is the partner you need to take a proactive stance against threats to the integrity and safety of your institution and customers.</p><p>��ɫ Connect builds and implements AI-powered solutions to sniff out suspicious activity in real time. Our experts have deep financial industry and contact center operation knowledge, and we’ll arm your agents with the training they need to be your bank’s eyes and ears against fraud. It’s time to lean into the power of AI to protect your regional/community bank or credit union and ensure customer trust.</p></div> </div> </div> </section> </div> </div> </div> <div class="t-post-info-author"> <div class="t-post-info-author-image"> </div> <div class="t-post-info-author-content"> <div class="field field--name-field-t-post-info-author-name field--type-string field--label-hidden field__item">By ��ɫ</div> </div> </div> </div> </div> </section> </div> </div> <div class="field field--name-field-blog-industries-categories field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/resources/category/finance-banking" hreflang="en">Finance & Banking</a></div> </div> Wed, 21 May 2025 06:54:49 +0000 tanvi.channe 60431 at /blog/april-financial-literacy-month-your-organization-ready <span class="field field--name-title field--type-string field--label-hidden">April is Financial Literacy Month. Is Your Organization Ready?</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>tanvi.channe</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2025-03-06T03:37:06-05:00" title="Thursday, March 6, 2025 - 03:37" class="datetime">Thu, 03/06/2025 - 03:37</time> </span> <div class="field field--name-field-blog-category field--type-entity-reference field--label-hidden field__item">Blog</div> <div class="field field--name-field-blog-media-main field--type-entity-reference-revisions field--label-hidden field__item"> <section id="paragraph-t_com_image-242033" class="wrapper-t_com_image"> <div class="clearfix paragraph com-image paragraph--type--t-com-image paragraph--view-mode--default"> <div class="container"> <a href="/blog/april-financial-literacy-month-your-organization-ready"> <div class="field field--name-field-t-com-image field--type-entity-reference field--label-hidden field__item"><div> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <picture> <source media="all and (min-width: 1201px)" type="image/jpeg" width="2000" height="1000" data-srcset="/sites/default/files/styles/responsive_image_2000/public/media/image/shutterstock_2270618001.jpg?itok=4_KsrmSB 1x"/> <source media="all and (min-width: 993px) and (max-width: 1200px)" type="image/jpeg" width="1200" height="600" data-srcset="/sites/default/files/styles/responsive_image_1200/public/media/image/shutterstock_2270618001.jpg?itok=_6UpaWtf 1x"/> <source media="all and (min-width: 577px) and (max-width: 768px)" type="image/jpeg" width="768" height="384" data-srcset="/sites/default/files/styles/responsive_image_768/public/media/image/shutterstock_2270618001.jpg?itok=vDa8g5k5 1x"/> <img loading="eager" width="2000" height="1000" alt="Financial Literacy Month" class="lazyload" data-src="/sites/default/files/styles/responsive_image_2000/public/media/image/shutterstock_2270618001.jpg?itok=4_KsrmSB" /> </picture> </div> </div> </div> </a> </div> </div> </section> </div> <div class="field field--name-field-blog-sections field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <div class="clearfix paragraph paragraph--type--d-p-blog-text paragraph--view-mode--default"> <div class="clearfix text-formatted field field--name-field-d-long-text field--type-text-long field--label-hidden field__item"><p>April contains two important financial holidays: Tax Day and Financial Literacy Month. While Tax Day is widely recognized, we would argue that Financial Literacy Month is just as significant. Improving financial knowledge benefits individuals, strengthens the economy, and can also be a win for your business—especially if you provide educational resources that your peers do not. While the quality of your content this month is critical, ensuring it’s inclusive and accessible to all customers and members is just as essential. Below are a few ways to make sure your Financial Literacy Month content reaches and supports everyone.</p><h3>Worksheets & Handouts</h3><p>Many organizations already offer financial documents in both English and other languages. If yours does not, consider this a first step toward creating a more inclusive learning environment. <br>For visually impaired customers, offer critical documents in large print or Braille. You could also host a live session where participants can review the materials together.</p><h3>Webinars</h3><p>For any webinars you have scheduled, ask about language preferences during the sign-up process. For attendees looking to improve their finances but who may not be fluent in English, providing an interpreter can enhance understanding and create a more inclusive environment. <br>If an interpreter is not available to schedule, consider offering real-time captions in English or other languages. Most people prefer watching videos with captions, regardless of language proficiency, and providing high quality captions is a relatively low-cost way to enhance accessibility and engagement.</p><h3>Social Media</h3><p>When posting on social media, be sure to include alt text for images and consider multilingual captions, depending on your audience. If a post includes graphics, display the English version on slide one and the translated version (e.g., Haitian Creole) on slide two.<br>For videos, make sure to provide transcripts in both English and the preferred languages of your limited English proficiency (LEP) customers. To take it a step further, consider creating multiple versions of the video with different in-language voiceovers or allowing viewers to select from various subtitle options.</p><h3>Podcasts</h3><p>For any podcasts your organization has released or plans to release, be sure to provide transcripts in both English and other relevant languages. Since the audio is likely in English only, offering written translations ensures LEP listeners can still access the key insights.</p><h3>Games</h3><p>An often-overlooked tool in Financial Literacy Month is gamification. Consider embedding a financial literacy game within your mobile app or online banking platform. The game could focus on products your organization offers or general financial knowledge, providing a fun and interactive way to educate customers.</p><h3>Need help improving your inclusivity and accessibility this Financial Literacy month?</h3><p>Look no further than ��ɫ. Our experts will work with you to understand your goals and propose solutions tailored to any timeline or budget. Contact us today to make this your organization’s best Financial Literacy Month yet!</p></div> </div> </div> </div> <div class="field field--name-field-blog-topic field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/blog/category/financial-services" hreflang="en">Financial Services</a></div> </div> <div class="field field--name-field-blog-industries-categories field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/resources/category/finance-banking" hreflang="en">Finance & Banking</a></div> </div> Thu, 06 Mar 2025 08:37:06 +0000 tanvi.channe 58549 at /blog/emerging-trends-commercial-lending-ai-localization-and-inclusion <span class="field field--name-title field--type-string field--label-hidden">Emerging Trends in Commercial Lending: AI, Localization, and Inclusion</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>tanvi.channe</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2025-02-04T03:37:32-05:00" title="Tuesday, February 4, 2025 - 03:37" class="datetime">Tue, 02/04/2025 - 03:37</time> </span> <div class="field field--name-field-blog-category field--type-entity-reference field--label-hidden field__item">Blog</div> <div class="field field--name-field-blog-media-main field--type-entity-reference-revisions field--label-hidden field__item"> <section id="paragraph-t_com_image-234395" class="wrapper-t_com_image"> <div class="clearfix paragraph com-image paragraph--type--t-com-image paragraph--view-mode--default"> <div class="container"> <a href="/blog/emerging-trends-commercial-lending-ai-localization-and-inclusion"> <div class="field field--name-field-t-com-image field--type-entity-reference field--label-hidden field__item"><div> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <picture> <source media="all and (min-width: 1201px)" type="image/jpeg" width="2000" height="1127" data-srcset="/sites/default/files/styles/responsive_image_2000/public/media/image/shutterstock_2327658919%20%282%29.jpg?itok=vbCHVh_M 1x"/> <source media="all and (min-width: 993px) and (max-width: 1200px)" type="image/jpeg" width="1200" height="676" data-srcset="/sites/default/files/styles/responsive_image_1200/public/media/image/shutterstock_2327658919%20%282%29.jpg?itok=5abrMHpX 1x"/> <source media="all and (min-width: 577px) and (max-width: 768px)" type="image/jpeg" width="768" height="433" data-srcset="/sites/default/files/styles/responsive_image_768/public/media/image/shutterstock_2327658919%20%282%29.jpg?itok=3eszhN7- 1x"/> <img loading="eager" width="2000" height="1127" alt="Ai blog" class="lazyload" data-src="/sites/default/files/styles/responsive_image_2000/public/media/image/shutterstock_2327658919%20%282%29.jpg?itok=vbCHVh_M" /> </picture> </div> </div> </div> </a> </div> </div> </section> </div> <div class="field field--name-field-blog-sections field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-t_post_info-234396" class="wrapper-t_post_info theme-default margin-bottom-default margin-top-default padding-bottom-default padding-top-default"> <div class="clearfix t-post-info paragraph content-moved-inside paragraph--type--t-post-info paragraph--view-mode--default"> <div class="t-post-info-inner"> <div class="t-post-info-content"> <div class="field field--name-field-t-post-info-content field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <section id="paragraph-d_p_text_paged-233873" class="wrapper-d_p_text_paged with-long-text margin-bottom-default margin-top-default padding-bottom-default padding-top-default theme-default"> <div class="clearfix paragraph text-page paragraph--type--d-p-text-paged paragraph--view-mode--default"> <div class="container"> <div class="clearfix text-formatted field field--name-field-d-long-text field--type-text-long field--label-hidden field__item"><p>The commercial lending sector is transforming rapidly, driven by technological innovation, changing borrower expectations, and a growing emphasis on inclusivity. To stay competitive, today’s lenders must go beyond traditional offerings by adopting innovative solutions and addressing the unique needs of diverse borrower demographics.</p><h3>1. Personalized and Localized Customer Experiences</h3><p>Borrowers expect services tailored to their specific needs, including localization of communication and documentation. Language barriers can alienate potential borrowers, particularly in diverse markets. Here’s where <strong>LEP programs</strong> (Limited English Proficiency) come into play.</p><p><strong>Why LEP Programs Matter:</strong></p><ul><li><strong>Inclusivity:</strong> They allow non-native English speakers to access loan products, fostering financial inclusion.</li><li><strong>Compliance:</strong> Many regions mandate language accessibility in financial services to meet regulatory requirements.</li><li><strong>Enhanced Customer Trust:</strong> Borrowers feel valued when they can interact in their preferred language, leading to stronger relationships and brand loyalty.</li></ul><p>By integrating localization efforts into digital tools and customer service, lenders can reach broader demographics and address underserved markets effectively.</p><h3>2. Expansion of Alternative Lending Platforms</h3><p>Peer-to-peer (P2P) lending and fintech platforms are breaking traditional barriers by offering faster, more flexible options. These platforms often cater to niche markets, including those underserved by conventional banks, amplifying the importance of culturally and linguistically appropriate services.</p><h3>3. Sustainable and Socially Responsible Lending</h3><p>Incorporating Environmental, Social, and Governance (ESG) criteria has become essential. For LEP borrowers, this focus extends to creating equitable financial opportunities that support community development and reduce systemic inequalities.</p><h3>4. Enhanced Risk Management Through AI-Powered Data Analytics</h3><p>Data-driven insights are not only enabling better risk assessments but also allowing for more accurate segmentation of diverse borrower profiles, including LEP communities. AI-powered predictive analytics can help lenders identify emerging needs in these demographics and craft appropriate financial solutions. Machine learning algorithms can detect processes to streamline approvals while mitigating fraud. Additionally, AI-driven tools can analyze historical lending patterns and economic indicators to forecast potential market risks, enabling proactive strategy adjustments.</p><h3>5. Compliance with Evolving Regulations</h3><p>Globalization and diversity have amplified the need for compliance with accessibility laws. LEP programs align with regulatory demands, ensuring that lenders provide equal opportunities and fair treatment to all borrowers, regardless of language proficiency.</p><h3>The Business Case for LEP Programs in Lending</h3><ul><li><strong>Market Growth:</strong> LEP populations are a rapidly expanding segment, offering significant untapped lending opportunities.</li><li><strong>Brand Differentiation: </strong>Demonstrating inclusivity through LEP programs positions lenders as leaders in corporate social responsibility.</li><li><strong>Operational Benefits: </strong>LEP-friendly processes can improve overall borrower satisfaction and reduce friction during the lending journey.</li></ul><p>The future of commercial lending lies in leveraging technology and fostering inclusivity. By integrating AI, data analytics, and LEP programs, lenders can not only meet the demands of a globalized market but also drive equity and innovation within financial services.</p><p><br> </p><p>Ready to shape your strategy? Let’s talk!</p></div> </div> </div> </section> </div> </div> </div> <div class="t-post-info-author"> <div class="t-post-info-author-image"> </div> <div class="t-post-info-author-content"> <div class="field field--name-field-t-post-info-author-name field--type-string field--label-hidden field__item">Samantha Weinstein </div> <div class="field field--name-field-t-post-info-author-pos field--type-string field--label-hidden field__item">Account Executive | Financial Services </div> </div> </div> </div> </div> </section> </div> </div> <div class="field field--name-field-blog-topic field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/blog/category/financial-services" hreflang="en">Financial Services</a></div> </div> <div class="field field--name-field-blog-industries-categories field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/resources/category/finance-banking" hreflang="en">Finance & Banking</a></div> </div> Tue, 04 Feb 2025 08:37:32 +0000 tanvi.channe 57879 at