Investment in the latest technology is crucial for banks and credit unions if they are to compete effectively, while the lack of tech talent continues to be an issue.

At best, artificial intelligence will be a tool that helps good bankers be better at their jobs. It won't replace them.

Researchers at the Federal Reserve Bank of Philadelphia have come up with a plan for letting banks innovate with artificial intelligence and widening access to credit at the same time.

A consortium of financial companies said premiums are rising despite a relatively low level of overall risk, causing some banks to reconsider their policies.

The generative AI technology has been through a cycle of media buzz, disappointment and disillusionment.