Finding board directors who understand the pace of change is a tall order. But banks of all sizes can find innovation-minded board directors by mining other industries and investing in annual training.

Despite advancements in AI for transaction monitoring, financial institutions share little in the way of fraud data, undermining efforts to combat crimes including check fraud.

In this month's roundup of top tech news: Organizations like First Horizon and TransUnion explore the use of artificial intelligence, Metropolitan Commercial Bank leaves the banking-as-a-service marketplace, BNY Mellon and Microsoft team up to oversee a new data management platform and more.

The steady drumbeat of consent orders against banks that offer banking as a service continues, with regulators telling banks to keep a closer eye on their fintech partners' compliance with the Bank Secrecy Act and money laundering rules.

The proposed data sharing rules could create opportunities for forward-thinking financial institutions to better serve their customers and meet ever-growing expectations for digital finance.

There are lingering questions related to the agency's 1033 proposal, including how to balance access to information with fraud prevention. But financial institutions should look for ways that access to additional data could help them create better products.

Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.

The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.

The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.

A panel at CBA Live explored the contract provisions banks need to consider before embarking on new banking-as-a-service relationships and what catches their eyes in consent orders from banking regulators.