The biggest banks need to get creative about the kinds of products and services they offer, and their efforts to attract a broader customer base.

Republican legislators and the American Fintech Council expressed worries recently over how the FDIC has managed its innovation efforts, highlighting the significant changes to an office established to head those efforts.

When customers are targeted directly with fake text messages that lead to account takeover, artificial intelligence, and in some cases generative AI, can play a role in fighting the fraud, experts say.

Artificial intelligence promises to replace a large percentage of entry-level analysts, call center workers and others, while leaving most senior managers untouched.

The San Francisco company entered into a pact with its regulator when it acquired Radius Bank three years ago. "The operating agreement, by design, in some ways slows you down," said CEO Scott Sanborn.

The $1 billion-asset institution shuttered its mobile banking platform for digital asset purchases on Wednesday, following a consent order from the Office of the Comptroller of the Currency received in October of last year.

Top House Financial Services Committee Republicans questioned the Federal Deposit Insurance Corp.'s stance on innovation, and said they were worried about the impact that would have on the bank examination process.

Experts explain which features customers expect, which they love and where banks are creating a competitive edge with their apps.

Challenger banks, like traditional banks, are under pressure to operate with fewer expenses. Artificial intelligence is part of the answer, and the impact on the workforce may be profound.

In this month's roundup of popular tech news: SEC responds to successful hack on its X account, community banks get closer to fintech hubs, the Office of the Comptroller of the Currency weighs in on Blue Ridge Bancshares and more.