Machine learning

A joint venture between the military-focused Palantir and investment conglomerate TWG will sell cybersecurity protection to financial institutions that are wary about the safety of artificial intelligence.

United Wholesale Mortgage, Celink, Cenlar and others are utilizing artificial intelligence to streamline call center operations.

Witnesses from companies across financial services and housing, including a credit union and a core services provider, attested to the value of AI in fighting fraud and boosting customer service at a hearing in the House of Representatives.

The tool will streamline the LOs search for company mortgage offerings, guidelines and product-related questions, Guild said.

In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.

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

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.

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."

Banks and fintechs wonder if regulators are getting more comfortable with machine learning-based ways of assessing credit, or if agency oversight will mean a crackdown. 

Federal Reserve Gov. Lael Brainard said regulators are seeking to "understand the potential benefits and risks" from utilizing artificial intelligence in the financial services sector.

The Libor transition is creating huge headaches for the industry; harnessing AI technologies may be the key to tackling it.

The automated closing disclosures software aims to be "40% faster than the 'old fashioned' method," a company spokesman said.

The CFPB is giving stakeholders until Dec. 1 to file comments on a potential overhaul to its rules related to the Equal Credit Opportunity Act, which prohibits discrimination in credit and lending decisions.

The agency sought feedback on potential changes to the Equal Credit Opportunity Act. But a coalition of industry and advocacy groups want a longer comment period to afford “a greater opportunity for thoughtful public participation.”

IBM called for rules aimed at eliminating bias in artificial intelligence to address concerns which range from identifying faces in security-camera footage to making determinations about mortgage rates.

Wealthfront could roll out a debit card, automated bill pay and direct deposit in early 2020, Chief Executive Andy Rachleff said.

Brent Chandler of FormFree, Tim Mayopoulos of Blend and Tamra Rieger of Evergreen Home Loans share their Digital Mortgage 2019 highlights

Rick Lang of Freddie Mac, Tim Mayopoulos of Blend and Tamra Rieger of Evergreen Home Loans discuss the key objectives – from customer experience to system integrations – that mortgage companies are pursuing through digitalization.

Aaron King of Snapdocs, Brent Chandler of FormFree, Tim Mayopoulos of Blend, and Chris Backe of Ellie Mae talk about system fragmentation, data access issues, personnel management and other hurdles that still stand between the industry and comprehensive digitalization.

PointPredictive has rolled out IncomePASS, which uses machine learning technology to determine if the borrower's income as stated on the application is realistic.