Risk management

Executives said the company may take a more conservative approach when it comes to adding new loans to its books in anticipation of an economic slowdown.

Vikram Pandit, who led Citi for five years, and Ash Gupta, who helped lead American Express for 41 years, have collaborated on a risk decisioning program meant to help make digital lending more efficient and cost-effective at banks of all sizes.

Just as advances in automobile technology have made driving safer, incorporating AI into decision-making reduces financial risks.

An alert released Tuesday asks banks to give special attention to specific “commodities of concern” as they monitor transactions.

The two megabanks said that their capital requirements will rise in the wake of Federal Reserve stress tests, putting downward pressure on their distributions to shareholders. Meanwhile, Bank of America, Wells Fargo, Goldman Sachs and others announced plans to raise their dividends.

A new and larger finance industry is emerging — one in which traditional institutions aren’t nearly as dominant as they used to be.

Missed payments are rising among nonprime credits as higher prices on other goods leave consumers with less money to pay back their car and truck loans. The uptick may be a sign that the stellar credit environment for lenders is starting to turn.

Bank of Montreal hired Piyush Agrawal from Citigroup as chief risk officer to succeed Patrick Cronin, who’s stepping down later this year.

Citigroup may record losses of at least $50 million following a London staffer’s fat-finger trade that caused a flash crash in European stocks last month, according to people familiar with the matter.

People shouldn’t completely shun the crypto world after the recent collapse of a popular stablecoin, an official at the International Monetary Fund said Monday.