Bank technology

Promontory MortgagePath fills management roles for bank relations, technology and outsourced services opportunities.

Leader Bank says it can land property managers as commercial clients by helping them handle tenant deposits — and possibly create opportunities to boost CRE lending.

The bank says its partnership with Lender Price will help streamline and simplify its home loan process.

Applications can now be made on the bank's app or website, but closings will still be in person. With this move, BofA joins Quicken Loans, Lenda, SoFi and others offering a mostly digital mortgage. The trend is sure to continue.

Some speculate that the banks who do business with credit reporting agencies may be looking for alternatives after mounting concerns about their ability to keep information private. But breaking up is hard to do.

Some fear that the removal of such data from individual credit reports could lead lenders to believe a consumer is a better bet than they really are.

Lenda, launched in 2014, currently makes mortgages start to finish in two weeks. But it's aiming to make it a process that can be finished on a borrower's lunch break.

To attract new customers, banks are getting rid of the paper-based payments process between builders and subcontractors.

The bank will spend an additional $1.4 billion on technology in 2018 to gain share and boost efficiency, executives said Tuesday. But they were peppered with questions about whether the big investment will yield a big financial return down the road.

The digital-only Ally Bank has taken several steps to deepen customer relationships through electronic channels, including use of personalized emails and websites that have yielded strong click-through and loyalty rates.