By welcoming AI-driven vendor platforms into their banks, small and midsize institutions are introducing risks that are poorly understood and potentially interrelated. Boards of directors need to start paying attention.

Royal Bank of Canada is rolling out AI across its businesses in an effort to become more efficient and generate more revenues. The Toronto-based bank recently created an internal AI accelerator that directly reports to CEO Dave McKay.

Agentic AI commerce is under development at Visa, Mastercard, PayPal and other large payment organizations, and many of these will hit banks' servers. Are banks ready for the onslaught?

Along with the AI tools, ICE Mortgage Technology also added 16 exception-based automation servicing agents with directly integration to its servicing platform.

Peter Chapman, chief technology officer at Grasshopper Bank, initially saw AI as "the best intern that you could ever have." Today the technology is taking on more advanced work at the bank.

While it's moving away from embedding transactions in ChatGPT to funneling purchases through third parties, analysts say the artificial intelligence lab's shift doesn't dilute the threat large language models pose to traditional card issuers.

The bank is partnering with a French software company to upgrade its usage of the emerging forms of artificial intelligence. Plus, Ripple plans to buy a local payment company to secure a license in Australia, and more in American Banker's global payments and fintech roundup.

The e-commerce giant has attributed outages to AI-assisted code.

Criminals are using AI and professional crime networks to scale attacks, yielding massive operational risks for banks, according to a new report from Nasdaq.

The online lender, known for being an AI pioneer, says it wants a national bank license simply for efficiency's sake.

The Salt Lake City-based regional bank has elevated two executives following the departure of longtime Chief Technology and Operations Officer Jennifer Smith.

Stripe has expanded its Shared Payment Tokens, a foundational building block to protect agentic commerce, to work with Visa and Mastercard's tokens. It's also added Affirm and Klarna.

If we allow algorithms to inherit yesterday's incentives — maximizing return, minimizing empathy — then tomorrow's system will be flawlessly efficient at reproducing inequality.

The announcement drove a large increase in Better's stock price, but UWM, Rocket and Pennymac all saw any gains earlier in the day more than dissipate.

Banks like Grasshopper are already starting to use AI agents where in the past they would have bought software as a service.

RIA leaders are debating "digital employees" but expect service models to expand to meet growing HNW needs, says industry observer Ric Edelman.