Generative AI is exciting, but has limited fraud-busting utility. Instead of rushing to implement gen AI-powered anti-fraud initiatives, banks should focus on strengthening their existing security measures.

Banks weigh in on the fallout from CrowdStrike's outage, Patelco Credit Union navigates an ongoing legal battle over ransomware attack, JPMorgan Chase's tech usage for fighting fraud and more.

Witnesses from companies across financial services and housing, including a credit union and a core services provider, attested to the value of AI in fighting fraud and boosting customer service at a hearing in the House of Representatives.

FactSet, Brightwave and Bloomberg are among those offering generative AI models that do research legwork. But Wall Street firms have lately been taking a harder look at the cost and return of generative AI.

The Consumer Protections for Artificial Intelligence bill passed in May seeks to enhance consumer protections from the potential biases in AI systems through increased transparency and accountability from developers.

The bank is working with Adyen and Stripe to improve the transaction information that feeds AI-powered payments crime fighting. Can it convince other firms to join?

In June's roundup of top tech news: U.S. Bank partnered with Greenlight to provide financial education resources, ransomware group LockBit released data belonging to Evolve Bank & Trust, banks consider the merits of open-source and closed-source generative AI and more.

Experts from Tipalti, Tulane, Cigniti and Ingenico discuss what skills will be in demand, and the importance of not being intimidated by the speed of innovation.

During a panel discussion at American Banker's Digital Banking conference last week, experts from American Commerce Bank discussed the launch of its virtual banking platform and theorized why other executives might be slow adopters.

The real test of the value of investments in artificial intelligence and other tech upgrades is the generation of measurable value across a bank's lines of business.

The Consumer Federation of America and Consumer Reports sent a letter to the Consumer Financial Protection Bureau urging it to require banks to search for less discriminatory models. Later the same day, the CFPB issued a report saying it's doing just that.

The head of data and digital at Ally Bank came up with protective measures governing the use of generative AI and organized "AI Days" for employees to learn about Ally's progress.

The two financial institutions are testing a combination of machine learning and blockchain to catch errors and block fraud on international transactions.

The chief growth officer at Pagaya is one of American Banker's 2024 Most Influential Women in Fintech.

The chief information, data and digital officer at Ally Financial is one of American Banker's 2024 Innovators of the Year.

Zest AI more than doubled its customer base in 2023 and increased its customer base more than 50% yearly over the past four years.

The bank's director of AI transformation is one of American Banker's 2024 Innovators of the Year.

The regulator's education arm compared consumers' reactions to financial information after being told it was generated by AI versus a human.