The Future We Make: Leveraging AI in Financial Services” contains four themes and nine key insights from the AI Symposium 2024. The goal of this report is to highlight some of the key messages, ideas, and examples that were discussed throughout the Symposium.

As federal policymakers struggle to address the nation’s growing shortage of affordable housing, a new report by FinRegLab analyzes the potential benefits of automating and updating federal insurance programs for manufactured home loans.

This report examines how modernizing federal insurance programs for manufactured home loans can expand affordable housing access. Modern manufactured housing is high quality, but financing for certain loan types is limited due to outdated processes and inconsistent rules. Recommendations include automating underwriting, harmonizing loan requirements, and improving data access to attract more lenders and support underserved communities.

This landscape paper details gaps in traditional systems that both make it difficult for millions of consumers to access financial services and for financial institutions to detect and protect against bad actors. The paper also summarizes emerging data and technological developments, concluding that more stakeholder engagement is critical as financial institutions make substantial investments to fight fraud and scams.

FinRegLab co-hosted a convening with the Aspen Institute Financial Security Program for a level-setting conversation about challenges in identity proofing and transaction monitoring, their impacts for consumers’ financial access and stability, and emerging data and technology trends. Learn More

FinRegLab is assessing the potential value of conducting empirical tests and other research to analyze particular data and technology solutions for identity proofing and transaction monitoring to improve financial inclusion and combat bad actors.

A new report by FinRegLab traces institutions’ growing use of new data sources, artificial intelligence, and other innovations in identity proofing and financial crimes monitoring, highlighting the potential benefits and risks to consumers particularly as the sector responds to escalating fraud and scams activity since the pandemic.

Mission-based lenders are increasingly using electronic bank account data and technology platforms to expand credit access to underserved entrepreneurs, according to a new FinRegLab working paper that details both current practices and future challenges as lenders work to scale their lending programs. Transforming Small Business Credit: Technology and Data Adoption in Mission-Based Lending focuses on […]