Technology

Tests of models from OpenAI, Google and others found their advice tends to disadvantage names commonly associated with racial minorities and women.

FedNow emerges as a key component of our industry's digital transformation, filling the void in our payment infrastructure and paving the way for a new era of banking.

Banking Circle US is the first company to use Connecticut's uninsured bank charter for wholesale and merchant activities. This kind of charter makes sense for payments firms, but questions persist about overall viability.

Financial industry workers don't need to be concerned about losing their jobs to AI — they need to be concerned over which of the many opportunities they will want to seek out when the time comes.

Bellwether Community Credit Union's partnership with the New York ad tech firm Prizeout is working to build out gift card programs and generate added sources of non-interest income.

The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.

Companies are taking vastly different approaches to how they implement generative AI, whether it's to empower employees or to overhaul the way they bring products to market.

Recent months have seen an uptick in enforcement actions against banks engaging in banking-as-a-service strategies. Observers are split on whether that enhanced scrutiny is temporary or terminal.

KeyBank receives "outstanding" rating from the Office of the Comptroller of the Currency on its most recent Community Reinvestment Act exam; Georgia Bankers Association's board elects a new incoming president and CEO; BNY Mellon hires a former GEICO executive; and more in this week's banking news roundup.

Despite its game-changing potential, crypto adoption has remained relatively low, hampered by an unsavory reputation and lack of regulations. Advancements and clarity in regulations and oversight are needed.