Bank technology

Technology executives at financial institutions must strike a balance between jumping on new technologies while justifying their business case for the bank.

Lack of understanding remains a key hurdle for adopting traditional and generative artificial intelligence-powered tools, but banks and credit unions are still eager to use AI, according to data from Arizent.

Goldman Sachs is unloading the home improvement lending platform GreenSky after a misadventure in consumer finance. However, the consortium buying GreenSky plans to invest heavily in its growth, and Synovus says it's eager to deepen its partnership with the online lender.

The custody bank will offer clients technology from Microsoft that lets them analyze their data in near-real time, hosted on the latest versions of Microsoft's public and private clouds.

The enforcement action involved problems with the Japanese-owned Union Bank's information security and operational risk controls.

Research from J.D. Power found that bank customers are most concerned about letting AI move money on their behalf or place a barrier between them and their money.

Large global banks are experimenting with tokenization to make complex transactions faster, efficient and more auditable.

BMO Financial Group doubled its mainframe capacity, prepared a cloud staging platform and used chaos engineering to ensure its Bank of the West integration went smoothly.