Unlike most IT investments that become obsolete in a few years, AI's ability to "learn" makes it increasingly more valuable, says Silent Eight's John O'Neill.

The London bank is trying out new models that help it assess the creditworthiness of recent college graduates, and layering on software that analyzes the fairness of its credit decisions.

The AskResearch virtual assistant helps the company's employees quickly find specific information buried in proprietary research to facilitate their work with clients. It's a creative solution to data-retrieval problems many banking companies face.

The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.

The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.

Will Graylin's new company OV Loop wants to use artificial intelligence — including the platform it just inherited with its PayFi acquisition — to connect digital ID to in-app payments, making it easier for banks to work with third-party wallets.

Machine learning and innovations such as voice assistants can give the newly mature e-commerce industry an extra push, says Qualpay's Penny Townsend.

Federal Reserve Gov. Lael Brainard said regulators are seeking to "understand the potential benefits and risks" from utilizing artificial intelligence in the financial services sector.

If you are underbanked you probably have limited access to mainstream financial services normally offered by retail banks. Many fintech startups offer alternative ways to measure credit risk, and assert that their products can help extend financial services to consumers who have not been well-served by traditional banks.

Absa Group is drawing on global training data from the fintech Kasisto and annotators who review conversations with clients to help in fine-tuning its virtual assistant.

American Express has spent years refining a decision-making engine that can tailor products and services to cardholders' needs in real time.

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.