Large banks are stepping up their game when it comes to new services and the technology that underpins them, and in many cases they are borrowing straight from the tech world’s playbook: Instead of building in-house, to speed things up, they are tapping third parties that have already found a fix for a tricky problem, integrating their breakthroughs by way of APIs.
In the latest development, a startup called Able has built an engine to speed up the processing of documents and other data required for commercial loans (typically $100,000 but sometimes up to $100 million in value), which i
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