Investment

The digital-only bank has adopted machine learning to process loans faster, more accurately and with better fraud detection than in the past.

The risk is growing that criminals or hostile nations could use quantum computing to hack into the ledger systems that control bitcoin and other digital currencies.

There is no doubt 2020 was a year of contactless transactions. But what implications do contactless payments present when it comes to security?

Though she acknowledges pressure to say digital currencies and blockchain are the technologies of the future, Bank of America's Cathy Bessant favors the more practical benefits that could stem from advanced mobile data networks and even 3D printing.

Bank of America is devoting more resources to fighting cyberattacks after seeing a jump in threats amid the pandemic.

Some say Equifax, Experian and TransUnion are too slow to investigate grievances, prompting more complaints to the Consumer Financial Protection Bureau. But the big three say other forces are at work.

The bank's blockchain venture with Temasek and DBS, called Partior, creates a wholesale blockchain network.

The Tennessee company said an unauthorized party gained access to dozens of accounts and obtained less than $1 million from some of those accounts.

With greater connectivity and more information being shared about customers and transactions, there will be more potential to generate valuable business intelligence, says Citizens' Matt Richardson.

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.