Technology

The Port Angeles, Washington-based bank said it has already invested "significant resources" into enhancing its compliance management for fintech partnerships, after self-reporting a problem last year.

While ransomware group Alphv/Blackcat claims to have orchestrated the incident, title insurance company Fidelity National Financial has not yet stated whether confidential data was compromised.

JPMorgan set a target last year of $1 billion in "business value" generated by AI in 2023, and the firm increased that goal to $1.5 billion at its investor day in May.

The rebound in Adyen and its European fintech peers this month has been notable, but investors should brace for a bumpy road ahead.

The world's biggest banks have slowly begun experimenting more with artificial intelligence in recent months, spurred by the promise that it will help them boost staffers' productivity and cut costs.

An investigation uncovered the fact that Prashant Bhardwaj, whom the Office of the Comptroller of the Currency hired to be Deputy Comptroller and Chief Financial Technology Officer in March, had a resume full of lies.

Michael Lewis takes a more sympathetic approach than many other observers to the former CEO of the crypto exchange FTX in his latest book, "Going Infinite."

Honorees on this year's list of the Most Powerful Women in credit unions have adopted tools powered by AI to help provide 24/7 support to members in a variety of languages, while also expanding access to vital capital for those from underserved communities.

Record-high rates and the questionable future of credit performance put pressure on fintechs whose bread and butter was lending to low- and moderate-income folks.

The decision to restore him to the world's best-known AI startup marks a significant victory for Microsoft which worked with fellow investors to reverse Altman's firing. CEO Satya Nadella publicly supported Altman throughout the turmoil and briefly agreed to hire him at Microsoft to start a new in-house research group.