Investment

Eightfold AI, which many companies use as they screen job candidates, is being accused of gathering information about applicants without their consent. The lawsuit also alleges that the company uses an algorithm to judge candidates without explaining how it works.

Faraz Shafiq, formerly of AWS and Google, will oversee the bank's vision for enterprise-wide artificial intelligence initiatives.

The bank technology seller closed the sale of its payment processor to Global Payments, which sold its card issuing unit to FIS. Helping banks get a handle on artificial intelligence is a big part of FIS' plan to reach banks.

As the Trump administration signals interest in reforming AML regulations, the industry must come together in support of new rules that promote efficiency and effectiveness in the fight against financial crime.

The U.K. conducted simulated cybersecurity attacks on its banks' live systems and found they lack basic patching and identity controls.

Goldman Sachs makes leadership changes across its global credit business; JPMorganChase names Simon Dale global head of the credit portfolio group lending; Citi hires Anand Govind as a managing director on its technology investment banking team; and more in this week's banking news roundup.

Once seen as a sleepy corner of the financial services industry, asset servicing has become increasingly important for banks as artificial intelligence, blockchains and a generational transfer of wealth alter the landscape.

The acquisition will improve how clients can use agentic artificial intelligence to attract and reel in consumers.

Tech giants such as Google and OpenAI are pushing to bring commerce and checkout into their platforms. But for many merchants, solving the question of how payments fit in is less of a priority.

The bank's AI-based virtual assistant, which began development 10 years ago, is now used by 42 million customers and more than 200,000 employees. It does everything from sending wire transfers to unlocking corporate phones.