Underpinning the technology with mathematically sound models can make a better case to consumers and regulators for why a loan applicant was denied.

Data that mimics the original set is part of coronavirus vaccine trials, and also has ramifications for mapping financial services metrics, says Aite's Ginger Schmeltzer.

The online lender, which raised $240 million, wants to take its artificial intelligence technology for evaluating borrowers to the next level and expand its partnerships with banks, its CEO says.

“If you get your credit decisions right and you manage fraud well, you can run a very efficient bank. That’s an area where AI is very applicable,” Toronto-Dominion Bank's chief AI officer says.

AI can add an extra layer that's hard for fraudsters to beat, says Nuance Communications' Simon Marchand.

Using AI can manage both privacy and security as part of AML reform, says Giant Oak's Gary Shiffman.

The number and type of channels for customer support are exploding – with Facebook Messenger, Apple Business Chat, and WhatsApp Business among the most recent additions. And channels are evolving, says Genpact's Jason Osborne.

The challenger bank will start by recommending how much users should allocate toward savings and spending, and will later transfer those amounts automatically.

With the increased shift toward digital payments, which has only been accelerated by the COVID-19 pandemic, manual data analysis and threat detection methods have failed to stop the fraudsters, says The ai Corporation's Oliver Tearle.

Smarsh, which enables banks and other clients to archive employee communications, is buying the AI firm Digital Reasoning as employers increasingly seek surveillance options for personnel working from home.

In today’s changing work environment, a one-size-fits-all policy does not make sense. An AI-based system means organizations rely less on an auditor’s luck in catching expenses abuses, and more on a systematic, evidence-based, and consistently fair approach, says AppZen's Andrew Foster.

Mastercard has rolled out a set of AI-powered tools to thwart fraud and data breaches across banks' ecosystems, particularly to benefit acquirers’ online merchants.

Artificial intelligence technology captures invoice data in any format and from any source, creating opportunities for myriad benefits in the organization, says Kofax's Michelle Trapani.

As the pandemic speeds digital adoption at financial institutions, the technology giants are pitching products that scan in data from mortgage documents and provide security and compliance controls used by in-house tech developers.

Even before the pandemic, retailers were pushing terminal makers to adjust to new trends on the fly. Technology cycles have become even shorter now — if there even are development cycles anymore.

Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.

Connected devices have become a popular way for retailers to mitigate human contact, turning forward-looking projects into near-term necessities. To keep this transition on track, NCR is using Microsoft's cloud.

During this time of economic disruption that has deep implications for the corporate sector, financial institutions need to make AI a core part of their efforts to adjust to the new normal and take advantage of the enabling technologies that can propel adoption quickly, says Canonical's Kris Sharma.

The trends were already pushing new payment experiences, which now seem less futuristic, says VeriTran's Omar Arab.