Technology

Research from American Banker shows that at least a quarter of all respondents see BNPL as a credible threat to credit card revenue.

After Dan Allison spent more than 20 years as a wealth management consultant specializing in referrals, the AI agent version of him will coach financial advisors through WealthReach's new Multiply tool.

The neobank reported a 25% year-over-year increase in revenue for the quarter ended March 31, with active users jumping 19% to 10.2 million. The company also raised its full-year 2026 guidance and authorized a $200 million share repurchase program.

The newly opened bank founded by big tech executives reached the deposit milestone within its first quarter of operations, according to a recent call report.

Citi payments exec Driss Temsamani said there's more work needed to bridge gaps to enable artificial intelligence to work broadly for payments and finance.

On Thursday, Citi will hold its first investor day in four years. The megabank, which has undergone substantial change under CEO Jane Fraser, is expected to share its strategy for driving higher profitability, deploying AI and ramping up shareholder returns.

In addition to 10 new AI agents for financial services, the company announced partnerships with software and data providers FIS, Microsoft, Verisk, Third Bridge, Fiscal AI, D&B, Experian, GLG, Guidepoint and IBISWorld.

The pilot program offers rates better than Coinbase, Robinhood and Charles Schwab and will be rolled out to all of Morgan Stanley's 8.6 million E-Trade users later this year.

If a card is immediately not easy and safe to use in an external app, consumers will quickly turn to another card, executives from Regions Bank, Pinnacle Financial Partners and Barclays warned American Banker's Payments Forum.

CEO Brian Armstrong said the company will flatten its org chart to five management layers and concentrate hiring around "AI-native" pods.