In tests, generative AI models gave different answers to questions about banks, and those answers changed as users added new prompts.
Aspiration Bank relies on software tools to pull data from diverse sources to prevent fraud in account applications.
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Finastra is the latest bank tech provider to bring stablecoins to cross-border payments, which experts say is a way banks can use blockchain post-GENIUS Act.
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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.
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By using a public blockchain, a potential digital euro could be made more widely available. Plus, Klarna expands its merchant reach as it resurrects plans for an IPO, Binance faces an audit and more in the American Banker global payments and fintech roundup.
Software can help banks move computing workloads to geographic regions where clean energy is available.
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With money flow suddenly stifled for millions of customers, demand for money management tools has skyrocketed.
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Barry Sommers, a former head of wealth management at the New York bank, is the latest high-level hire by Wells CEO Charlie Scharf.
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A program from the Worldwide Foundation for Credit Unions will provide personal protective equipment for CUs in the Eastern European nation after they were forced to close earlier this spring amid the outbreak.
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Gateway First Bank, a former nonbank home lender, rode the pandemic era's mortgage wave to No. 1 on American Banker's latest list of top-performing banks based on full-year 2022 data. Now it has to cope with the housing market slowdown.
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The top five community banks have more than $670 million in combined home equity loan portfolios as of March 31, 2023.
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Consumer advocates are protesting specific risk-weighting changes affecting borrowers with lower down payments. Also, a broader increase in requirements may discourage depository holdings of servicing.
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.
The Natural Treasury Employees Union has asked a district court to clarify whether Russell Vought, the acting director of the Consumer Financial Protection Bureau, has complied with a preliminary injunction.
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Open banking offers immense opportunities for the industry and the consumers it serves, but it will only deliver on this potential if banks proactively build customer trust and work together to assure standardization.
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Partnerships between innovative banks and fintechs must adopt a "shared responsibility" model for the safety and soundness of the partnership.
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Regulators need to consider the risk and complexity of a BaaS companies and connect the dots to bank safety and soundness and consumer protection.
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The Olympics are boosting spending in Italy, large-in-part thanks to Americans. In the U.K., Barclays is reportedly leading a meeting to seek support for an existing project. The meeting comes against the backdrop of geopolitical concerns and the dominance of American-based payment firms.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said in comments Wednesday that the central bank plans to publish its Basel III endgame capital proposal for public comment before the end of March.
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The sale of AO Citibank to Moscow-based Renaissance Capital marks the end of an exit plan that started in 2021 and expanded after Russia invaded Ukraine the following year.
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Data breach extortion group ShinyHunters used social engineering to steal customer names, addresses and phone numbers from the blockchain lender.
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About 70% of bank CEOs said in a recent survey that they are the AI decision makers in their companies. The reasons for this range from the huge impact AI can have on an organization to the fear of missing out.
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A White House Council of Economic Advisers report published Tuesday found that the CFPB cost consumers between $237 and $369 billion since its creation, an analysis that consumer advocates and some financial academics say is flawed.
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New York Attorney General Letitia James warns that scammers are coaching victims to bypass bank security and using "second act" schemes to steal more.
In a speech Tuesday, Federal Reserve Gov. Michael Barr said it was possible that artificial intelligence will boost productivity in an undisruptive way. But he said policymakers should also be wary of a financial crash if those gains are not realized or a rapid adoption that could lead to labor displacement.
The 23rd annual ranking of women leaders in the banking industry.
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