McDonald’s agreed to sell Dynamic Yield, an artificial intelligence startup acquired under its former CEO in 2019 for more than $300 million, to Mastercard.

The use of artificial intelligence and machine learning in financial services, while promising, is not without risk. It's on federal regulators to ensure that algorithms relied on by banks and credit unions aren't harming businesses and consumers.

The company’s software analyzes banks’ loan programs and rejections for signs of discrimination.

During the pandemic, the use of digital assistants by low- to moderate-income consumers has soared. One reason: Those seeking loan modifications or fee waivers see the technology as less intimidating than humans.

Inventors at Bank of America kept originating ideas, leading to a record-setting first half of the year, even while continuing to work from home.

The Los Angeles credit union started out by creating a self-service bot it named Royce. CEO David Tuyo discusses Royce's contributions and other ways artificial intelligence is improving efficiency.

The Birmingham, Alabama, bank has developed artificial intelligence-based systems that can flag suspicious activity and guide customer service representatives. Amala Duggirala, the bank’s chief operations and technology officer, describes the AI work she and her team have been doing.

The suburban New York bank says Skye, its conversational artificial intelligence assistant, is doing the work of 100 full-time employees.

The data analytics provider has deployed cloud hosting to scour international payments for signs of fraud and money laundering.

Math-based machine learning tools hold substantial promise in advancing the fairness of consumer lending and developing benchmarks for the entire industry.

Financial institutions said they needed more time to weigh in on issues such as how they use artificial intelligence for fraud prevention and underwriting.

ISO 20022 prioritizes speed and security, creating a runway for major new innovations like machine learning, says NICE Actimize's John Buzzard.

Both vendors use remote hosting and web delivery to support e-commerce, APIs and other technologies that go beyond their traditional focus on the ATM and point of sale.

The digital-only bank has adopted machine learning to process loans faster, more accurately and with better fraud detection than in the past.

With greater connectivity and more information being shared about customers and transactions, there will be more potential to generate valuable business intelligence, says Citizens' Matt Richardson.

The technology is simulating the work of teams of analysts and traders to pick stocks and rebalance asset allocations in the bank's newest investment index.

Ken Meyer, who will speak at American Banker's Digital Banking AI & Automation conference next week, says banks should be able to quickly catch up with big technology companies and financial services upstarts in the adoption of artificial intelligence without alienating customers or running afoul of regulators.

A European Union plan would require rigorous data-quality checks and testing of applications of artificial intelligence that it says violate consumers' privacy and other rights.

“You all will not let me breathe” is just one example in the CFPB’s complaint database where a consumer likened alleged mistreatment by a financial institution to social injustice. An artificial intelligence firm uses technology to help companies flag such language.

Artificial intelligence (AI) is increasingly gaining ground in a number of areas of banking and financial services. However, there is growing evidence that AI systems are biased.