It's early days in the Connecticut bank's testing of Cascading AI, but one clear benefit has emerged: The software can handle the many inquiries that come in on Friday nights, after loan officers have gone home.

OpenAI, Anthropic, Microsoft, Meta Platforms, and Alphabet's Google are among more than 200 members of a newly established AI Safety Institute Consortium under the department, the Commerce Department said.

Plaid named Cloudflare's Jen Taylor as its first president as the financial-technology company continues to diversify its products and readies itself for a public listing.

CEO Alex Chriss told analysts the company's AI-heavy product rollouts won't improve financial results in the near-term.

The San Francisco-based electronic signature company's chief executive Allan Thygesen announced Tuesday that roughly 400 employees across the company were being let go as part of restructuring for the 2025 fiscal year.

"Some difference of views has emerged" between the Dutch banking regulator and two U.S. counterparts — the OCC and FDIC, bunq told American Banker.

Financial institutions' fintech partnerships are facing higher levels of scrutiny. More consistent and direct monitoring of their partners can put them in a better position.

As virtual assistants become central to banking, financial institutions of all sizes must embrace and leverage this transformation to redefine the customer experience.

The $18.5 billion-asset institution saw member growth increase by 22% year-over-year and fund levels surge in the first six months of last year after deploying a new deposit origination platform.