Penny Crosman

Reskilling and giving AI the boring work are two approaches banks take to making agentic AI palatable to workers who may fear that bots will take their jobs.

A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments. 

A commonly used standard for property and casualty insurance will offer a carve-out for generative AI liability starting in January. Startups like Testudo, Vouch and Armilla AI stand by to scoop up that business.

Robert Hartheimer's arrest comes at a time when the bank is trying to recover from a consent order and the Synapse mess.

A memo sent to 175,000 employees gives them 60 days to complete the training.

The credit score provider has developed "focused" language artificial intelligence models purpose-built for tasks like detecting payment fraud, assessing risk and recommending next best actions.

The bank will deploy Nova Credit's Cash Atlas software to determine borrowers' creditworthiness by looking at bank account data, and the vendor's Credit Passport to bank newcomers to the country.

The consumer protection agency told a Kentucky court it wants to re-examine the issues around the way bank customer data is shared with fintechs through data aggregators.

Google, Oliver Wyman and Corridor Platforms offer bankers a safe space where they can experiment with using generative artificial intelligence for customer interactions.

Several large banks are deploying agentic AI. There's a big difference between managing people and managing AI agents.

Legacy core systems and the high cost of hiring people with artificial intelligence skills are among the factors getting in the way of big AI payoffs, experts say.

The startup, which emerged from Y Combinator in 2023, has deployed its software at a long list of community banks and fintechs, including Grasshopper Bank and First Internet Bank.

Bad actors use generative AI to create automated threats that are more sophisticated than earlier generations of malicious bots, and they are going after banks' APIs.

The Coalition for Financial Ecosystem Standards, a fintech group co-founded by Sima Gandhi, is publishing guidelines for how banks and others can assess them.

Potential cybersecurity and data privacy violations are among the many dangers of giving the Tesla CEO free rein over systems and data used for Social Security benefits and tax refunds. 

Banks' AI deployments will now be supervised by states and the companies themselves, experts say.

Organizations that represent Amazon, Apple, Meta, PayPal, OpenAI and many other large technology companies accuse the consumer watchdog, which has given itself authority over companies that facilitate at least 50 million consumer payment transactions per year, of regulatory overreach.

A bot from nCino lets people in the commercial lending department quickly find information in loan documents and in policy manuals that are hundreds of pages long.

The pro-business, deregulation-friendly administration is taking office at a time when economic conditions are improving for fintechs and their investors.

The incoming administration has experience from its previous run, Bank of America's chairman and CEO said. He also said he would not join it.