The Bank of New York Mellon had 117 different AI solutions in production at the end of September, Chairman and CEO Robin Vince said. That's up 75% from the second quarter.
Ashley Madison, an online extramarital dating service that claims to protect users' privacy and security, has had its customer database compromised.
-
How the next generation of payments technology is being developed in fields such as public transit, sports and long-haul trucking.
-
Australia plans to put Apple Pay and Google Pay under the same rules that apply to credit cards, NatWest is inviting customers into its branches for a tabletop game about the perils of financial scams and more.
-
Two years after acquiring the installment lender Afterpay, Block, which also owns Square, is seeing the payoff of a strategy that focuses on the sale of specialty items.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
-
Stuart Hendel is heading to Bank of America Corp.'s Merrill Lynch unit to head its global prime brokerage unit, the company said Monday.
-
Eager to escape more scrutiny and red tape from regulatory reform, some hedge fund managers are closing shop to concentrate on managing money for themselves, relatives and essential employees as unregistered family offices.
-
Bank of America Corp.'s head of U.S. wealth management, Lyle LaMothe, is retiring after 24 years at Merrill Lynch, according to an internal memo.
-
The acting head of the Federal Housing Finance Agency has promised substantial changes for Fannie Mae and Freddie Mac, but the exact mechanics and timeline of an administration plan are still a mystery.
-
Among the things we've learned this earnings season: C&I is back, fee income is flat, and leveraged lending is beginning to "rear its ugly head."
-
Recent comments attributed to the acting head of the Federal Housing Finance Agency (who is also comptroller of the currency) have stoked speculation about the Trump administration’s housing finance policy.
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
Tom Krause, the chief executive of Cloud Software Group, and Marko Elez, an engineer who has worked for SpaceX and social-media platform X, have offices in the Treasury Department, according to sources.
-
Under procedural changes recently adopted by the Consumer Financial Protection Bureau, the director could pursue more enforcement actions administratively without federal court approval. Financial firms may have a harder time defending themselves as a result.
-
A supervisory letter detailing their failings in assessing exposure to a collapsed hedge fund suggests that the Federal Reserve believes banks are falling short in basic risk management.
-
The data from these transactions could help millions of borrowers with thin or nonexistent credit files. But how the credit reporting industry collects and treats the data may matter more than the data itself.
-
Don McCree, who has led commercial banking at Citizens since 2015, plans to retire next year. His successor, Ted Swimmer, who was in charge of capital markets, took over on Tuesday.
-
The Fairmont, West Virginia, bank is taking a $7.6 million hit to rid itself of $73 million in long-duration, low-yielding securities, though the sale of its payments subsidiary the week before cushions the blow.
-
House Financial Services Committee ranking member Maxine Waters, D-Calif., asked bank regulators to give banks the supervisory clearance to extend lines of credit and modify loan terms for federal employees furloughed after the government shut down last week.
-
Federal Reserve Gov. Stephen Miran sidestepped whether policy setting pressure from the administration is a welcomed development, but reiterated that he wants to avoid succumbing to "groupthink."
-
The Federal Deposit Insurance Corp. approved proposals Tuesday that would define "unsafe or unsound practices" and ban the use of "reputation risk" in supervisory exams.
-
The messaging service is building a network of banks to support the technology that underpins digital currencies. Technology experts say this "single location" concept encourages legacy institutions to adopt digital assets, but it's just one of many options.
- 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.
The fintech Versatile Credit lets merchants provide point-of-sale credit to consumers in all FICO ranges.
The industry has developed materials for banks looking to promote anti-scam awareness and more resources for banks.
The 23rd annual ranking of women leaders in the banking industry.
-
Partner Insights from Alloy -
Partner Insights from Alloy -
Partner Insights from Alloy -
Partner insights from scienaptic
