Machine learning

The bank’s AI-driven virtual assistant, which lets people quickly search transactions and cancel subscriptions and other recurring charges, was an instant hit. But BofA will have to take a number of steps to sustain erica's early momentum.

Financial institutions can improve monitoring of suspicious activity and potentially risky customers using algorithms, but they need to treat this new technology with caution.

A popular AI open-source platform with bank investors is being combined with IBM hardware and Nvidia processors in the hopes of creating high-speed, “driverless” AI.

Banks are making business customers happy with new digital billing services as machine learning meets the lockbox.

Financial institutions can improve monitoring of suspicious activity and potentially risky customers using algorithms, but they need to treat this new technology with caution.

Black Knight has acquired HeavyWater, a developer of artificial intelligence and machine learning technology for the mortgage industry, and plans to incorporate the startup's borrower data verification and other automation capabilities into its existing product suite.

A broader cross-section of hires and added training could help financial institutions avoid problems with algorithm-based discrimination in lending.

On the first day of the 2018 CUNA CFO Council conference, futurist Mike Walsh gave credit unions a hint of the world to come from both a consumer and business point of view.

Bank executives say artificial intelligence will create jobs, while analysts say the opposite. Employees are anxious but willing to try to work with it. All agree AI is already making an impact.

Envestnet's aggregator rolls out PFM features meant to appeal to younger clients — and links to Alexa.

Google's new voice assistant technology may be the best right now at imitating human speech. That makes it a potentially powerful tool for bankers — and for cybercrooks.

Bank executives say artificial intelligence will create jobs, while analysts say the opposite. Employees are anxious but willing to try to work with it. All agree AI is already making an impact.

A multilayered approach that allows one type of fraud tool to pick up the slack when another layer fails, according to Robert Capps, a vice president at NuData Security.

Manuela Veloso, head of the machine learning department at Carnegie Mellon University, will join the bank in July.

AI in a car can be fatal. What could go wrong with AI in a bank? A new council established by BofA and Harvard hopes to minimize unintended consequences that could jeopardize consumers' financial well-being or discriminate against them.

While the banking industry is divided on the use of conversational technology, the San Francisco company believes chatbots can make it easier for customers to discuss their finances.

Voice authentication software has improved call center service at Virginia Credit Union and shortened call times by nearly 25 percent.

HSBC is letting artificial intelligence software predict the types of reward offers card customers prefer. It's driving up response rates in marketing tests, but the process raises privacy and other issues.

Artificial intelligence is expected to bring financial services to millions, yet it could also make unethical decisions that unfairly deny credit and widen the divide between haves and have-nots, says Nicolas Economou of the nonprofit Future Society.

In a move rare for the industry, the bank bought a team of data scientists to bolster its artificial intelligence efforts in areas including product recommendations and fraud prevention.