Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.

The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.

A multiyear agreement will enable Mphasis to use AWS platforms for modeling industry-use cases, especially concerning data extraction and document processing.

The newly launched Rocket Logic platform can pull and analyze documents instantly, helping to shrink closing times by about 25%, the lender claims.

Tracy Stephan's appointment to the new role is in line with broader federal directives follows other changes in staffing in the Office of Financial Technology.

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 an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.

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.

While the rise of artificial intelligence in home lending brings about "fascination" over its capabilities for some, others claim it's a technology people might use "to mask their incompetence."