Credit Union of Colorado is using Scienaptic AI to make about 60% of consumer loan decisions.
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank's head of AI, says banks still have an opportunity here.
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With FedNow set to launch in July, UMB is looking at ways to implement the instant settlement network with payroll and other transaction types.
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This year's conference, hosted by American Banker, comes during a time of almost unprecedented change for the economy and the payments industry. The industry's top minds will gather in San Diego for discussions that will matter for years to come.
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Apple began rolling out its first buy now/pay later service after a lengthy delay, entering a field currently dominated by Affirm, Klarna and others.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Sales of fixed annuities through all channels totaled $19.4 billion in the second quarter, a jump of 18% from the first quarter, according to a report by Beacon Research, which tracks fixed annuity sales.
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In the clash of the two largest U.S. brokerages, Bank of America Corp.'s Merrill Lynch is generating more profit with fewer people than the business Morgan Stanley formed by buying a controlling stake in a venture with Citigroup Inc.'s Smith Barney.
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Shares in Swedish investment bank HQ AB plunged 84% Monday after its banking license was revoked by regulators over the weekend, pushing the bank into involuntary liquidation.
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Over the past year, the focus of several banking policymakers has been how much the regulatory pendulum might swing back toward the industry’s liking. That theme will likely continue in 2018.
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A regulatory relief package is likely to come out of the Senate in the new year, and lawmakers could follow it up with a housing finance reform push. But the midterm elections could cause some reform initiatives to grind to a halt.
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The Consumer Financial Protection Bureau on Wednesday launched a rate spread calculator and validation tool for financial companies reporting Home Mortgage Disclosure Act data starting Jan. 1.
Billy Beale joined the small Virginia bank in May, several months after its fintech partnership strategy landed it in hot water with regulators. "There's still a lot of just blocking and tackling that we've got to do to get the bank to work the way it's supposed to," he says.
The Treasury Department's chief AI officer said artificial intelligence can relieve the burden of mind-numbing activities such as anomaly detection and can spur employees to think more creatively.
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Data that mimics the original set is part of coronavirus vaccine trials, and also has ramifications for mapping financial services metrics, says Aite's Ginger Schmeltzer.
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The pandemic and social unrest made 2020 one of the most challenging years in recent memory, but there is much the industry can learn from the past 12 months.
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Remote learning and work heightens the security risk, says Pulse Secure's Mike Riemer.
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Four years after its launch, the Mission Driven Bank Fund has ended its fundraising well short of its original $500 million target. Still, organizers are hopeful that the fund's performance will attract other investors to the sector.
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U.S. Bank's merchant acquiring unit has expanded its partnership with embedded finance fintech Liberis to offer its small business clients working capital loans.The two companies previously offered loans in the U.K., Ireland and Poland.
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Legal experts say President Trump's unprecedented move to fire Cook over alleged past misconduct will likely be hashed out in court, but there is little precedent to determine whether a sitting board governor can be removed for past actions.
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Aron Levine, the Canadian bank's new U.S. president, said BMO intends to invest in technology and spend more on branches. The company's moves, which also include the recent combination of its U.S. businesses, are part of a plan to boost its return on equity.
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A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.
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The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.
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New York Attorney General Letitia James alleges that Zelle's parent company, Early Warning Services, failed to adopt basic safeguards to combat fraud. The Consumer Financial Protection Bureau dismissed a similar lawsuit in March without an explanation.
Bank groups, especially those representing the largest institutions, did little in the way of a public campaign against the provisions in the stablecoin bill that could disintermediate traditional banking, but are picking up steam for the upcoming market structure fight.
The 23rd annual ranking of women leaders in the banking industry.
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