The president of the planned Georgia Skyline Bank says he's cautiously optimistic that his group can raise $35 million of startup capital in time for an opening early next year.
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.
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Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.
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Multifunction wallet apps will support shopping, loyalty, paying at the pump or EV charging station and crypto asset management, challenging the roles of U.S. financial institutions.
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Here's what's happening around the world
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Putnam Investments announced a new suite of income-oriented funds designed to help advisers better serve their clients' retirement issues.
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Pacific Investment Management Co. raised more than $1.5 billion for a private pool to buy assets from banks looking to strengthen their balance sheets, according to two people with knowledge of the fund raising.
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Goldman Sachs Group Inc., the fifth-biggest U.S. banking company by assets, will continue making principal investments with the firm's own money because executives do not think the so-called Volcker Rule prevents the practice, a Bank of America Corp. analyst said.
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The Badger State's institutions also saw earnings and allowance for loan losses increase.
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Some companies on SourceMedia’s Best Fintechs to Work For list offer their employees extra time off to live boldly.
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The federal banking agencies will not hold a hearing on a proposal to reduce the number of residential real estate transactions that require an appraisal.
K2 Intelligence, an adviser on compliance and cybersecurity, has hired a former FBI cryptocurrency expert and a former regulator who worked on New York's digital currency regulations.
Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.
While executives this week signaled they could accept policies that put pressure on the economy, analysts said the lighter regulatory touch is unlikely to offset Trump's tariff regime.
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Banks need to come together to create interoperable tokenized deposits, as part of an effort to bridge the gap between traditional finance and blockchain.
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Government has an exciting opening to use its unprecedented reach and newfound trust among small-business owners to connect entrepreneurs with sources of capital that can help them grow.
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The central bank has a long history of diluting the effectiveness of the Community Reinvestment Act.
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Mastercard has added an "agentic cloud" to speed deployment, while Visa has issued a protocol to help AI agents communicate. That and more in American Banker's global payments and fintech roundup.
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The conditional approval came with residency waivers for board directors and green-lights the bank's business model, which is aimed at serving tech companies and ultra-high net worth customers in the digital asset space.
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Federal Reserve Gov. Christopher Waller said Wednesday that breakthroughs in artificial intelligence will undoubtedly make life easier and lead to growth, but acknowledged that the technology's adoption will lead to short-term labor market disruptions.
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Acting Federal Deposit Insurance Corp. Chair Travis Hill said the agency will open the bidding process for failed banks to private equity and other nonbanks, streamline resolution plans and revamp its bidding and funding models, reforms spurred by 2023's bank failures.
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Federal Reserve Governor Stephan Miran said the economic standoff with China could increase market volatility, further necessitating the central bank to move its policy stance to neutral.
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"We actually see a little bit more strength in the nonprime [consumer]," CFO Brian Wenzel told American Banker.
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Chayt said the bank has been able to onboard customers "at the speed of fintech" rather than "the speed of banking."
Posnett gets paid to worry about the volatility of the macro environment. Her answer: Q2 investment banking fees are 26% higher than the same period in 2024.
The 23rd annual ranking of women leaders in the banking industry.
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