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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.

Technology

Rather than replace aging servers and add an on-site backup system, The Eastern Colorado Bank moved its IT infrastructure to the cloud. While some bankers fear outsourcing such systems, the community bank has had a hosted core for several years.

Fulton hires new new CFO from Valley National roundup slide

Fulton Financial taps Valley National's Richard Kraemer as its new CFO; UBS' veteran private banker Jenny Su has left the firm; Bank of America names Kevin Brunner head of global technology, media and telecommunications investment banking; and more in this week's banking news roundup.

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Some customers reportedly complained about getting locked out of their accounts after signing up for the bank's new Strata Elite credit card. "We feel like we have done the right thing for all of our good customers," Pam Habner, Citi's head of U.S. branded cards, said Tuesday.

Flagstar-Bank-HQ-Hicksville

The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.