Large language models, bespoke hardware and embedded AI are attracting banks' tech dollars, experts say.
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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Apple is developing its own payment processing technology and infrastructure for future financial products, part of an ambitious effort that would reduce its reliance on outside partners over time, according to people with knowledge of the matter.
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In global news this week, Apple blocks Russia's Mir network; N26 gets hit with anti-money-laundering penalties in Italy; Santander brings new B2B payments tech to Brazil; and more.
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These tech titans still depend on banks to back their payment cards and loans. But their vast audiences mean any financial product they offer is a competitive threat.
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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Vanguard Group announced Thursday that it has named F. William McNabb, its president and chief executive officer, to succeed John J. Brennan on Jan. 1 and become the third chairman in the firm's history.
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MarketRiders, for example, allows individual investors to type in their age, time horizon, investment experience and risk tolerance, and then sit back while a computer algorithm analyzes the information and tells them what to buy and sell.
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Ted Tozer, president of the Government National Mortgage Agency, wants more hands to monitor the growing number of nonbank MBS issuers.
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U.S. Bancorp agreed to pay $10 million while Banco Santander settled for $3.4 million following missteps in how they handled earlier orders from regulators to fix faulty foreclosure practices, according to the Office of the Comptroller of the Currency.
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Mortgage REIT says five-year transition plan won't have an impact on its financing model.
If the industry's largest players reported more payment information to the credit bureaus, many consumers would qualify for better offers from competitors, the Consumer Financial Protection Bureau said. It's the latest example of the bureau's increased scrutiny of credit card companies.
The decision means the six largest Canadian banks will enter 2024 with the requirement to hold Common Equity Tier 1 capital of at least 11.5% of risk-weighted assets.
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Wells Fargo remains the TBTF poster child and regulators continue to do too little to address the problem. And as always, small banks suffer collateral damage.
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As businesses change strategy and staff deployments quickly, their payment needs and flows will change rapidly, says BHMI's Jack Baldwin.
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Fintechs like LendingClub and Varo Money illustrate how the traditional financial system is changing. Banks that don’t rapidly evolve with technology will be obsolete.
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Freedom Bank is rolling out Freedom@Work, which offers perks for employees of participating companies, as part of a wider strategy to attract more consumer deposits.
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The card network behemoths and the London-based bank are looking to expand account-to-account payments through fresh partnerships and investments. Plus: President Trump withdraws Shift4 CEO's NASA nomination, and tokenized payments gain steam in Europe in this week's global payments roundup.
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House lawmakers discussed the recently introduced market structure bill, with Democrats expressing concerns that the bill could enable banks to evade securities laws.
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KeyBank and Pathward Bank are among the banks whose customers are asking them for digital asset services. But bankers remain cautious in this time of regulatory uncertainty.
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Two bankers detailed how artificial intelligence is transforming fraud detection and incident response for their institutions. The technology lets analysts ask datasets direct questions.
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Marianne Lake will oversee strategic growth and the company's fast-growing overseas consumer bank.
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Flexible work arrangements are helping fintechs recruit and retain top talent.
Inclusion is a core tenet of the company, with headquarters in both the U.S. and India and a mission to expand access to education.
The 23rd annual ranking of women leaders in the banking industry.
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