Square has buttressed its deep-learning with the purchase of Dessa, a Toronto-based machine learning startup that specializes in advanced risk management.
Launched in 2016, Dessa leverages ML for various technologies including managing risks, and has become known for its ability to detect deepfakes that are an increasing fraud threat, Square said in a recent
Dessa will join Eloquent Labs, a Redwood City, Calif.-based AI startup Square
After a California woman spent more than a decade obtaining reparations for Nazi plundering of her family's belongings, the money disappeared from her bank account. Her saga highlights a gap in fraud cases between what consumers expect from their banks and what those banks are in a position to deliver.
Federal Reserve Governor Lisa D. Cook highlighted concerns over private credit growth, commercial real estate distress and escalating cyber threats in remarks on financial stability at the Brookings Institution Wednesday.
Consumer debt aggregators such as Method, Payitoff, Spinwheel and Tally are partnering with financial institutions to embed solutions that aggregate account information and devise ways to optimize repayment — including with low-interest offers from the bank itself.
Federal Deposit Insurance Corp. Chair Martin Gruenberg will testify next week in Congress. Those hearings — which will come after the publication of a bombshell report detailing widespread misconduct at the agency — could signal whether he has a future at the FDIC.
Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.
