The appointment ends a seven-month search for a permanent CEO. Milotich was named interim CEO in February following the resignation of former CEO and director Simon Khalaf.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
-
By integrating its new installment product with its widely popular mobile wallet, Apple is more likely to capitalize on spending data than to focus on creating a large loan portfolio.
-
Klarna adds chatGPT, BNP Paribas outsources to the Nordics, Mastercard teams with a French fintech and more.
-
With FedNow set to launch in July, UMB is looking at ways to implement the instant settlement network with payroll and other transaction types.
-
A bill before Congress that would increase worker retirement savings would be a burden to small employers, according to a report from Aite Group.
-
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.
-
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.
-
The announcement Tuesday by Sen. Orrin Hatch that he will retire at the end of the year could have a ripple effect throughout the Senate, including the leadership of the Banking Committee.
-
Startups that have developed the technology for real estate finance are starting to conduct a broader array of transactions, including property sales.
-
Fannie Mae's serious delinquency rate climbed to a high not seen since March 2017, but remained lower than it was 12 months prior.
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.
The movement of cash to money market funds from bank accounts will diminish lenders' ability to finance small and midsize firms, BlackRock Investment Institute said in a new paper. BlackRock and other money managers have spent much of this year readying to fill that void.
The Consumer Financial Protection Bureau issued guidance reminding banks that they must be able to prove that consumers have opted in to overdraft services in order to charge overdraft fees.
-
Compassionate billing, transparency and digital processing can all improve conditions for providers and patients, says Cedar's Florian Otto.
-
This oldest consumers in this next group are approaching their mid-20s, so financial institutions must tweak their marketing if they hope to reach them in an meaningful way.
-
The simplest of mechanisms, having evolved over time, has now become a trending solution, a beacon of a brighter time and an essential service provider in an hour of need, says PPS' Tessa Unsworth.
-
Federal Reserve Gov. Lisa Cook's lawsuit against President Trump is challenging his move to remove her from office because allegations against her do not constitute "cause." How courts weigh in could dictate the future of the central bank's independence from the White House.
-
As the holiday shopping season approaches, retailers are grappling with how to optimize their inventory and set prices amid higher tariffs. A new Wells Fargo report sheds light on how businesses are adapting.
-
On Thursday, the two banks disclosed a presentation that seeks to reinforce the strategic rationale behind the proposed $8.6 billion deal.
-
Self Financial sees earned wage access as the perfect complement to its suite of credit building products. It's the latest example of EWA being paired with broader financial wellness products.
-
The Canadian bank said it will take at least a year to hit an inflection point in U.S. loan growth. It has been shedding assets in an effort to free up space for growth in more promising business lines.
-
The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
Medallion Financial CEO Andrew Murstein sees more growth on the horizon for the New York lender's fintech banking operation, which saw activity spike in the first half of the year.
The Federal Reserve said it would rescind its novel activities supervision program created to monitor how banks use emerging tech.
The 23rd annual ranking of women leaders in the banking industry.
- Partner Insights from Alacriti
-
Partner Insights from FIS -
Partner insights from Infosys -
Partner Insights from Alloy
