Liability for missteps by vendors, jurisdictional headaches tied to locations of servers and legacy technology are other potential impediments.

Modernizing the bank’s app and digital-banking experience won’t necessarily result in Citigroup needing fewer people in its retail bank, CEO Michael Corbat said.

Werner Loots, the bank’s first head of transformation, is helping the bank redesign how work is done, then streamlining and digitizing as much as possible.

Chris Maher, CEO of OceanFirst Financial, shares how employees’ roles have already changed and his bank’s efforts to help them navigate AI.

European Union privacy watchdogs are gearing up to police digital assistants after revelations that Amazon.com Inc. workers listened in on people’s conversations with their Alexa digital assistants.

The acquisition will vastly expand Visa's platform, giving it nearly Amazon-like influence.

Digital banking will become less visible because it will be embedded in other daily activities with the help of AI, voice interfaces and other emerging technologies.

Akin to the democratization of computing power through personal computers, the growing use of AI will continue to fuel new products and services in payments and have a significant impact on society. But AI will also introduce tremendous challenges due to its potential use by threat actors, says Visa's Paul Fabara.

New, risk-based technologies powered by AI and machine learning (ML) enable financial institutions to analyze transaction, device, geographical and behavioral data to make real-time security decisions, detecting and preventing fraud as it happens, says OneSpan's Michael Crichton.

It can be a painful process for a bank to go digital, but there are ways to ease the transition.