RPA

The CEO of the Hauppauge, New York credit union is one of American Banker's 2024 Innovators of the Year.

First Busey Corp. is investing in software to eliminate the drudgery of some tasks. But this Best Bank to Work For will judge the success of the tech initiative by employee engagement more so than just efficiency. The goal is to boost morale.

Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.

Robotic process automation is normally the province of large banks, but Extraco Banks in Texas and Carter Bank in Virginia are training bots to perform repetitive, mind-numbing tasks.

KeyBank, Regions and others are using self-service portals, robotic processing automation and virtual assistants to digitize the collections process and make it more humane in anticipation of rising delinquencies.

Employees at first feared the process might eventually lead to the elimination of their jobs. Ultimately, however, the bots let employees focus on more important tasks, the bank says.

The custody bank has deployed more than 300 bots and is using artificial intelligence throughout the organization.

Credit decisions were a natural place to start with artificial intelligence, but now banks and credit unions are taking the technology to all parts of their businesses.

Capacity, formerly Jane.ai, originally designed its chatbot to answer consumers' questions, but when employees started using it, that gave the startup an idea for a new business line.

As robotic process automation expands into day-to-day lending operations, IBM is teaming up with UiPath, a startup that specializes in the new technology.

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.

Robotic process automation is said to have a high return on investment, but adopting it on a large scale has proven challenging, especially at community banks.

The bank is using AI in its chatbot, in trading and other areas. It also has concerns about the potential for bias to creep into the software.

More than 1 million jobs will be lost to AI by 2030, according to one estimate. But new jobs are also being created. Are banks and their employees ready?

More than 1 million jobs will be lost to AI by 2030, according to one estimate. But new jobs are also being created. Are banks and their employees ready?

Key efforts for banks include developing AI applications, adding fintech allies and strengthening cyberdefenses.

Execs from Bank of America, Wells Fargo, BBVA, Ally Bank and others outlined their AI strategies, progress to date and lessons learned at BankAI this week.