Technology

The days of taking shortcuts around regulation and lax fiscal discipline need to come to an end if the industry is going to reach its full potential.

The Cincinnati, Ohio, bank targeted Rize Money due to its "ease of accessibility," according to Fifth Third's head of wholesale payments. The acquisition comes as the $205 billion-asset bank has seen wealth and asset management revenue decline in recent years.

Zest AI and Origence designed a new white-labeled product for institutions that lack the resources to develop a custom platform based on artificial intelligence.

Experts say banks should start stepping up their encryption now, because hackers can steal it now and decrypt it with quantum computing later.

Artificial intelligence can help cut bias out of credit models. The Consumer Financial Protection Bureau should make it easier for lenders to adopt it.

After the departure of a key Small Business Administration official, lawmakers from both parties are calling on the SBA's chief to delay rules that could open the agency's biggest lending program to more nonbanks — or even consider reversing the changes.

The Los Angeles fintech lender has agreed to refund voluntary payments paid by borrowers in California, Connecticut and the District of Columbia. Voluntary payments for loans have come under scrutiny from consumer advocates and state officials.

During a Tuesday hearing, lawmakers talked through how to properly regulate the wide-ranging uses of AI. Some voiced support for forming a new AI agency.

The bank is focusing on pre-seed companies that specialize in fintech or other forms of technology and have diverse founders.

The New York bank is hoping for 30% to 40% productivity improvements from the use of AI in areas like software development and knowledge extraction.