Technology

The core-processing vendor FIS wants to dream big like fintech startups when it comes to developing future services, but it also seeks to be large enough to offer multiple services in an era when banks are cutting back on third-party providers.

Philip Jefferson

Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.

Left: Merchants & Marine Bank branch. Top right: Ryan Hildebrand, chief innovation officer of Bankwell Bank. Bottom right: Kim Kirk, chief operations officer of Queensborough National Bank & Trust.

Community banks are in the early days of experimenting with AI and the earlier days of writing policies to govern its usage. It's key to do both at once.

Trump sovereign wealth fund

The president directed Treasury Secretary Scott Bessent and Howard Lutnick, the nominee for Commerce secretary, to create the fund, following through on an idea Trump floated during his campaign.

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Huntington's $7.4 billion acquisition of Cadence would give the Ohio-based bank a top-five market share in both Dallas and Houston. It comes just a week after Huntington closed its last Texas acquisition.