Technology

Celtic Bank is the latest large Small Business Administration lender to turn to an AI origination platform for smaller-dollar loans. Live Oak Bank, which has been piloting the same platform, says it's poised for big growth in the same segment.

Rodney Hood, former acting Comptroller of the Currency and former chair of the National Credit Union Administration, says the credit scoring system is broken and AI can fix it.

Just as the invention of pneumatic nail guns didn't eliminate the need for expert carpenters, the appearance of new AI tools for banks won't obviate the need for experienced and well-trained bank employees.

Regulators can compel regulated stablecoin issuers to perform AML checks and even freeze assets. But there are a lot of digital currencies out there beyond stablecoins.

A business unit CEO Jane Fraser called a "crown jewel" during the bank's first-quarter earnings call says its reaping efficiencies through virtual assistants.

There's been an onslaught of nonbank financial technology company charter applications and approvals already this year.

The Pennsylvania-based regional bank said it will collaborate with OpenAI to deploy artificial intelligence across its commercial banking operations. OpenAI technical teams will be onsite to build custom AI capabilities.

In order for artificial intelligence to be useful, it has to be powered by accurate information, three community-bank executives agreed at a virtual panel hosted by American Banker.

American Banker's BNPL Tradeoff Survey finds risk and regulatory fears are leading many banks and credit unions to hold off on offering the lending product.

Fintech firm IntraFi's most recent quarterly survey of bank executives showed rising pessimism among bankers related to "instability in Washington," as well as growing concerns about technology-enabled fraud.