Technology
Technology
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As financial institutions increasingly rely on artificial intelligence for anti-money-laundering and fraud detection, they face challenges in meeting regulators' demands for complete transparency and documentation.
October 25 -
American Banker's latest innovation report found that strategic corporate transactions are important for most banks but offer distinctive challenges. Fintech acquisitions give banks maximum control but can be hard to integrate if the buyers don't approach the process thoughtfully.
October 24 -
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Banks already share consumers' transaction data with fintechs, mostly through data aggregators, and often grudgingly through screen scraping. The proposed 1033 regulation could give more control to consumers, better data access to fintechs and a competitive edge to big banks over smaller ones, some observers say.
October 23 -
Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.
October 23 -
The global clearinghouse inked the deal with Securrency as part of its push to expand the use of the emerging technology in capital markets.
October 20 -
The Consumer Financial Protection Bureau's proposal would give consumers a legal right to grant third parties access to financial data for a specific use, but firms cannot sell the data or use it for their own benefit — including by feeding it into algorithms or artificial intelligence.
October 19 -
After scrambling to launch bots in the early pandemic, banks including Fifth Third and KeyBank are taking the time to thoughtfully design intelligent digital assistants with better navigation and seamless handoffs to human agents.
October 19 -
There are good reasons to be skeptical in the face of predictions of a revolution in banking led by generative artificial intelligence.
October 19 -
Ripple, Coinbase and Circle all received licenses to operate under the nation's stablecoin regulations, which offer more clarity than American rules do.
October 19 -
Questions about how it will be implemented and whether the rest of the market will follow the agency's lead make the expense involved difficult to estimate.
October 19 -
The "Get My Rate" tool, launched on Sept. 4 in collaboration with SavvyMoney, tells current and prospective members what loan rates they qualify for without adversely affecting their credit scores.
October 18 -
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The bank suffered its third breach in three years, this time by virtue of a vulnerability in Progress Software's file-transfer system. But Flagstar is only one of many such victims.
October 18 -
How to use, govern and adopt AI were some of the main themes from the Monday event.
October 17 -
Billy Beale joined the small Virginia bank in May, several months after its fintech partnership strategy landed it in hot water with regulators. "There's still a lot of just blocking and tackling that we've got to do to get the bank to work the way it's supposed to," he says.
October 16 -
On JPMorgan Chase's third-quarter earnings call, CEO Jamie Dimon debated with Wells Fargo Securities analyst Mike Mayo over whether recent advances in AI present an advantage to traditional banks or to their challengers.
October 16 -
The recent round of terminations comes after the neobank cut 225 employees in January.
October 13 -
The credit bureau is embedding its Experian Boost feature in the new account, which aims to help people strengthen their credit profiles through on-time bill payments.
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