Bank technology

The president's son has seemingly cut ties with the digital asset fintech ALT5 Sigma, whose shares lost 90% of their value after purchasing the tokens.

Banks have publicly said they're on top of the risk presented by Anthropic's Claude Mythos, which can find and exploit software vulnerabilities at unprecedented speed. Experts aren't as sure.

The digital bank and lender did not increase its full-year outlook in anticipation of an interest rate freeze.

Banks have a narrow window to shape how agent identity verification works before transaction volumes force ad hoc approaches that will be harder to standardize later.

The investment firm's Alternatives division comprised a majority of the online lender's $60 million Series C funding round.

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.

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.

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.

Only 16% of 206 banking pros rated their institution "high" or "very high" — and most of those ratings rest on no formal measurement.

First Citizens finally pulls the plug on the failed bank it acquired in 2023. Also, prediction markets are keeping regulators and lawyers busy.

James filed a pair of lawsuits against Coinbase and Gemini arguing that they violated New York's sports gambling laws.

The credit startup is seeking a limited-purpose charter from federal regulators through the Competitive Equality in Banking Act's credit card bank carveout.

The largest banks have increased their venture capital investments in AI startups by 21% over the past two years. They're looking to "co-shape" technology so that it meets their needs.

Slash Financial, a fintech originally founded for sneaker resellers, closed a Series C funding round and launched an AI assistant for digital-native business customers.

The challenge for banks is not whether to adopt AI but how to do so with discipline, judgment and a clear understanding of its limits. The history of technology firms overpromising is extensive in the banking industry.

A new International Monetary Fund working paper highlights how inadequate data sharing leaves the U.S. banking sector vulnerable to transnational fraud syndicates.