Predictive analytics

U.S. fintechs attracted $5.8 billion in the fourth quarter as institutions sought an AI edge.

In a move rare for the industry, the bank bought a team of data scientists to bolster its artificial intelligence efforts in areas including product recommendations and fraud prevention.

Banks are increasingly investing in technology that will enable them to deliver highly personal and customized communications with customers.

Separate apps for banking and PFM are too much for most customers to handle, so the Canadian bank is adding automated advice and savings to mobile banking — and it’s relying on artificial intelligence and predictive analytics to make it all work.

Wells Fargo is piloting features that could help customers boost savings or plan for a trip.

More and more banks are using advanced geographic information systems to help make decisions around branch consolidation, lending in low-income communities, monitoring fraud and even deploying talent.

Banks want and need to rival tech giants in their use of customer analytics. Some think artificial intelligence is the key to making it happen.

As artificial intelligence makes analytics better, the question of who gets to benefit from the intel will come up more. Fintech startup wallet.ai believes customers should be told of propensities that might be hurting them.