Execs from Bank of America, Wells Fargo, BBVA, Ally Bank and others outlined their AI strategies, progress to date and lessons learned at BankAI this week.
Sir Tim Berners-Lee, creator of the World Wide Web, exhorted developers to think about unintended consequences, saying he felt guilty over the digital divide and the proliferation of fake news.
The president of the St. Louis Fed said that regulators should go back to the pre-Dodd Frank framework for small banks, while warning about changes to the system as fintechs expand their presence.
Recent regulatory reform activity is a step in the right direction, but the changes envisioned in both a Treasury Department report and a suite of House bills are a mixed bag.
Navient has suspended stock buybacks to buy and expand a debt-refinancing firm that faces stiff competition from fintechs, and some shareholders aren’t happy.
The non-binding guidance, which followed a nearly yearlong inquiry about industry practices, said consumers should have greater ability to obtain information about their financial data, among other principles.
The Illinois company, four months removed from its last bank acquisition, just announced the biggest purchase in its history. Alpine Bancorp. will add low-cost deposits and scale to Midland States' wealth management business.
Strong gains in net interest income offset a decline in fee income, but a recent settlement with the federal government over alleged misconduct at its Wilmington Trust unit weighed on the Buffalo company's overall results.
Net interest margin widened 12 basis points, too. Those lending results offset a decline in fee income at the Minneapolis company, which saw earnings rise 4%.
Readers weigh in on how women can advance in business, the regulatory playing field for banks and nonbanks, the CFPB's payday loan rule, ATM withdrawals made through mobile wallets, and more.
Two realistic utopians -- David Orban, founder of the London think tank Network Society Research, and Himi Khan, executive V.P. at the virtual assistant tech startup Clinc – share their AI vision.
Associate Director of Financial Regulation Studies
Cato Institute
Recent regulatory reform activity is a step in the right direction, but the changes envisioned in both a Treasury Department report and a suite of House bills are a mixed bag.
The current regulatory focus drives the growth of ever-larger, harder-to-manage and harder-to-regulate megabanks, while community banks have been left to be picked up by acquirers.
The tech sector is filled with innovators who want to solve really tough problems. Yet, there is one huge problem they can’t seem to make a dent in, says the creator of Craigslist and the founder of Women Who Tech.
While fintech companies have helped change our understanding of what is possible in financial services, disruptors have largely ignored an important user base.
While bank executives are divided on what they view as an optimal outcome for Fannie Mae and Freddie Mac, there is broad agreement that a future without them (or some government-supported equivalent) would mean tighter credit, higher rates and lower volume.
Index points to steady if slightly slower growth in the month. A key question: Do readings in delinquencies and loan rejections point to a turn in consumer credit?
Post-election exuberance about the prospects for rollback of Dodd-Frank regulations has been tempered by the political realities facing the President and Congress.
Recently, the Aite Group surveyed 1,000 U.S.-based businesses generating between US$100,000 and US$20 million in annual revenue with the intention of understanding how well US-based small businesses are being served by their bank partners.
M&T Bank has embarked on an epic quest to put the customer at the center of everything the company does, launching a multi-year, enterprise-wide effort to modernize and centralize the management, delivery and measurement of all outreach to customers and prospects.
Financial institutions are turning to artificial intelligence (AI) to automate manual processes, emulate human decisions, and improve the accuracy of surveillance strategies.
