Compliance systems

It is critical that banks blend data science and their industry knowledge to better identify and mitigate compliance risk, says a director at Promontory Financial Group.

Remote exams could save the National Credit Union Administration $50,000 on travel costs alone, and participating CUs say the project is a good start – but there is still work to be done.

The company said the aim of a redesign and additional automation is to make its compliance software easier for bankers to use.

With a lighter compliance burden, small banks could shift tech spending to customer-facing innovation.

With some 3.5 million ATMs all needing to be converted Windows 10 at the same time, some credit unions are being proactive now to avoid the mad rush.

Examiners focus too much on how many suspicious activity reports banks file and too little on the true riskiness of their activities, according to lawmakers and industry representatives.

Despite impending data requirements, many small banks are still struggling with automating loan risk calculations.

Readers weigh in on a proposal for encouraging small bank installment loans, a firm that uses AI to reduce false alarms, what security improvements are needed for sharing customer data, and more.

Merlon Intelligence, a startup launching Wednesday, plans to offer banks AI software that will help them with their expensive compliance responsibilities.

Readers weigh in the effect of Federal Reserve actions on wealth distribution, how a new startup could reduce overdraft fees, Watson's attempts to catch rogue traders, and more.

Large banks and Nasdaq are applying artificial intelligence to the detection of bad behavior such as fraudulent account openings and market manipulation. The technology may spot misconduct where humans didn’t.

Violations of Bank Secrecy Act and anti-money-laundering compliance remain a hot topic for financial institutions as regulators can bar them from branch building and bank acquisitions. Here are some notable regulatory actions that are still unresolved.

Even in the age of Watson, computers are still only as smart as the people who teach them.

Artificial intelligence is moving from science fiction to practical reality fast, and it's in banks' best interest to gear up now for the changes ahead. Here are some strategies to consider.

The appeal of information pathways such as the internet were seen as possibly bringing about a "comeback" for artificial intelligence in financial services — in the 1990s.

Much of regtech focuses on automating compliance functions, but the human eye is still needed in some cases. Royal Bank of Canada and D+H have developed an assessment tool designed to help employees do their jobs better.

Banks should embrace artificial intelligence so that they can more easily navigate policy shifts that will affect their compliance resources and processes.

Financial industry groups have rolled out a plan for keeping bank customers' data safe if a mega-disaster, like a massive attack or a natural disaster, strikes.

Belmont Savings in Massachusetts isn't trying to fire or replace its employees who work the phones pursuing sales leads, but it has made some technological investments to get more out of them.

With 14 million trades a day on Nasdaq and innumerable chats and emails, the stock market's risk and surveillance officers can't look at everything. Enter artificial intelligence.