Technology

The recent leadership turmoil at OpenAI underscored the importance of the due diligence banks must conduct before working with a generative artificial intelligence vendor.

Financial services companies are still in the early days of utilizing artificial intelligence, meaning they must closely examine any partnership with a third party. This includes demanding evidence to back up any performance claims these outside companies make.

With the growing interest in generative AI, it seems inevitable that some banking jobs will change while others will be eliminated entirely.

Fintechs that jump ship to more stable sponsor banks need to prove they have a solid business and take compliance seriously.

The Virginia bank is one of three that have been publicly admonished by regulators this week due to problems related to their banking-as-a-service programs.

The San Francisco technology company is partnering with Onramp Invest to offer registered investment experts tools for facilitating larger digital asset transactions.

As regulators repeatedly press banks and fintechs to make sure their artificial intelligence models aren't "black boxes" and comply with existing law, the burden is on lenders to prove they are making such efforts.

As new CEO Alex Chriss streamlines the payment company's strategy, 2024's first major product rollout stresses data-driven, personalized connections between merchants and consumers.

The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial technology firm that processes trillions of dollars of securities-lending transactions every month.  

Charging a nonsufficient funds fee on a debit, ATM or peer-to-peer payment that gets declined immediately would be considered "abusive" under a proposed rule from the Consumer Financial Protection Bureau.