A data-driven approach, regardless of human or machine involvement, is a state that organizations need to move to in order to maximize detection in the present and to ease the transition to a more primarily machine-driven future, writes Oliver Tearle, head of research at The ai Corporation.

The companies have teamed up on a product to help banks, especially small ones, give customers more accurate insights into their own financial health.

ComplyAdvantage, Cinnamon and Zoovu recently raised millions of dollars to fuel expansion of their automated risk management, data-scanning and customer service products geared toward financial services companies.

Crooks are using techniques that move quickly, making AI a good bet when searching through many layers of transaction data, according to Jie Wu, a director at GoodData.

To take full advantage of AI’s opportunities, employers must understand and overcome lingering doubts from their employees.

The financial services industry has plenty of tasks, such as card issuance, that can benefit from the automation that artificial intelligence brings, writes Jie Wu, a director at GoodData.

The bank and card program provider is starting to use AI in many areas, but it's also trying to build paths forward for employees whose jobs will be affected.

Technology companies have pushed machine learning as a way to combat a fraud threat that's increasing in size and sophistication, and there are signs emerging security innovation is making a difference.

The order coincides with concerns about China’s ambitions to dominate the sector and the likelihood of disruption for workers as the technology automates millions of jobs.

A bounty of stolen payment credentials and complex processing makes online travel booking a crook's delight, but machine learning could be the tonic to combat a wave of fraud.

Technology investors are bulldozing cash into blockchain and artificial intelligence, but the “why” is just starting to emerge, as is the true nature of the innovation.

A year after buying the artificial intelligence fintech Layer 6, TD Bank is "rewiring how the organization has worked," Gregory Braca says.

Policymakers need to update banking regulations to minimize the risks posed by technology companies entering financial services, a well-known policy analyst says in a new paper.

Banks use anti-money-laundering and fraud systems to try to catch scams that prey on senior citizens. A few, including Wells Fargo, are working on artificial intelligence that could spot them even earlier.

The New York based Petal uses machine learning to optimize the limited financial data available for low-information consumer groups and millennials, who often turn to installment loans from companies such as Affirm, Klarna and PayPal Credit.

Many bankers say they’re more comfortable with using artificial intelligence behind the scenes, but others — including Synchrony and Wells Fargo — insist AI can be used to interact with customers if it’s deployed properly.

There are concerns that artificial intelligence could erase jobs across financial firms, but it will actually benefit employees by cutting rote tasks, giving them time to focus on more fulfilling work.

The data aggregator has purchased Abe AI and plans to use the artificial intelligence firm's technology in a host of applications.

The core-banking vendor won the investment and ringing endorsements from the trade group and several banks because its open system and cloud delivery could eventually challenge entrenched tech players.

In recent years, new machine learning algorithms and big data have reduced fraud losses to an extent — however, their impact has been relatively limited, in part because the industry has been reluctant to use them. But the use of such technology is soon likely to become far more widespread in the U.K., and across the EU.