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.