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Luis Valdich, managing director of Citi Ventures, and Alex Sion, managing director of private equity firm Motive Partners, explain how they envision advanced AI changing work in financial services.
March 1
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Some U.S. banks postponed taking action on ISO 20022, a new global financial messaging standard, while they were busy with preparations for FedNow's faster-payments launch last year. This may not leave them with enough time to meet a March 2025 deadline.
March 1
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The growing buy now/pay later industry requires regulations, but existing regulations for credit card lenders are not fit to the purpose. BNPL needs bespoke guidelines to protect consumers.
March 1
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The turmoil at New York Community Bancorp resumed Thursday with the departure of CEO Thomas Cangemi. The embattled regional bank, which also recorded a $2.4 billion goodwill impairment charge and disclosed other new problems, saw its share price plunge.
February 29
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The Toronto bank has been under investigation by U.S. and Canadian supervisors for alleged shortcomings in anti-money-laundering compliance. CEO Bharat Masrani pledged "comprehensive enhancements" but declined to pinpoint the exact fixes and their costs.
February 29
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In a 31 to 20 vote, the House Financial Services Committee voted to advance a resolution disapproving of a Securities and Exchange Commission accounting bulletin that banks say would undercut their ability to custody crypto.
February 29
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A mixed-race couple claims a "whitewashed" valuation in 2023 returned a price 39% higher than the depository-approved result a year earlier.
February 29
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A consortium of banks focused on cybersecurity has published a series of white papers aimed at navigating the challenges and opportunities of AI in the financial sector.
February 29
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Research from J.D. Power found that bank customers are most concerned about letting AI move money on their behalf or place a barrier between them and their money.
February 29
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The changes made to the schedule of bringing advanced credit metrics to major mortgage investors Fannie Mae and Freddie Mac affect bi-merged reports and Vantagescore 4.0's implementation.
February 29
