A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments. 

Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.

As the emerging form of artificial intelligence impacts payments, pace of payment disputes and the workload will change.

The credit union fintech and core provider partnered to launch three new agentic AI-powered tools for credit unions that work with existing systems.

As Standard Chartered boss Bill Winters says cash will soon fully give way to digital currency, Western Union, Worldline, Coinbase and Ripple entered separate collaborations to bring digital assets to wider audiences. That and more in the American Banker global payments and fintech roundup.

The urgency for financial institutions to develop new systems to detect and prevent sophisticated fraud schemes is growing.

The financial services industry is relying on outdated methods of detecting and fighting fraud. With the assistance of artificial intelligence, criminals are penetrating vulnerable systems. It's time for collective action.

AI is transforming legacy modernization efforts as Wells Fargo builds systems for agents to take on humanlike tasks and interact with one another.

As the political dispute drags on, there are implications beyond government disbursements, potentially harming corporate cash positions and the larger economy, according to payment experts from Billtrust and research firms.

The U.K. bank's "Scam Intelligence" tool uses Google's Gemini to analyze images and texts for red flags, aiming to reduce losses from authorized push payment fraud.

A commonly used standard for property and casualty insurance will offer a carve-out for generative AI liability starting in January. Startups like Testudo, Vouch and Armilla AI stand by to scoop up that business.

During Thursday's earnings call, CEO Michael Miebach said the payment company is partnering with large technology firms and offering consulting for the emerging form of artificial intelligence, attempting to expand a strategy to draw revenue beyond card processing.

The legacy money transfer firm plans to launch USDPT, a coin designed to improve international payment processing. That and more in the American Banker global payments and fintech roundup.

The challenger bank in the third quarter launched Cash Coach, an AI-powered customer insights engine that helps consumers optimize earned interest in deposit accounts and minimize interest charges on credit cards. SoFi plans to roll out a "more comprehensive" SoFi Coach that incorporates all areas of financial services as part of its strategy to rival banks.

The payment company launched new tools for merchants and entered artificial intelligence collaborations with OpenAI and Mastercard ahead of the company's second quarter earnings, which beat analyst expectations.

In an expanded partnership announced Monday, the card network and payment fintech will enable hundreds of millions of consumers and tens of millions of merchants to use new forms of artificial intelligence for shopping and payments.

The agents could overcome the consumer inertia that keeps people in low-yield bank accounts, the consultants say.

The company's software automates much of the process of getting money transmitter, lending and other types of licenses.

Amid growing deepfake threats and successful biometric bypass attempts by fraudsters, the bank added an extra layer of security to strengthen the authentication process.

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.