Penny Crosman

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.

Wells Fargo wants to use the real-time payments network being developed by the Federal Reserve for 24/7 liquidity management. The online-only First Internet Bank aims to use it to help customers manage their bills and cash flow.

The banking giant is using technology to empower corporate customers to keep tabs on and resolve issues with cross-border payments.

The Providence, R.I., bank partners with tech companies like Apple and Microsoft, it has 25 fintech partnerships and it rewards employees for new ideas, says CEO Bruce Van Saun.

The special-purpose bank, licensed by the state of Wyoming, has drawn the support of investors and some policymakers. But banking groups say the digital assets that underlie its business model are highly volatile.

The Chicago fintech, which currently offers personal loans and credit cards, will add deposit accounts with the acquisition of Level.

The technology excels at spotting money laundering and suspicious transactions, but it still can't be trusted to help bank customers make big decisions, such as what to do with retirement savings.

The data aggregator, whose planned merger with Visa was called off in January, intends to use the funds to accelerate its global expansion.