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."

While many working in home lending are looking to artificial intelligence for future efficiency and automation, job loss is also a concern among a majority of respondents in a new Arizent survey.

Keeping vendor arrangements under wraps, "pen-tests" and a few simple email setting changes can make a world of difference in avoiding future attacks, experts say.

The New York bank has deployed generative artificial intelligence from Greenlite to help analysts do enhanced due diligence on clients with higher risk ratings.

Research from J.D. Power found that bank customers are most concerned about letting AI move money on their behalf or place a barrier between them and their money.

The megalender and servicer Rocket reported annual origination volume in 2023 of $78.7 billion, a 40% decline from 2022.

The New York bank's AI research group has published 400 papers, according to new research from Evident; TD Bank Group's Layer 6 unit published 14 last year. These groups work to solve real-life problems in the business units.

Other mortgage companies have piloted various aspects of Sagent's cloud native servicing platform but Mr. Cooper will be the first to try out the completed version.

Cenlar's chief digital officer shares his story while weighing in on AI, vendor consolidation and cybersecurity.

A new generative artificial intelligence tool from Ncontracts can assist in summarizing lengthy agreements with fintech partners and identifying important clauses.

The integration of Rocket's AI-backed tool on Apple's newest product, Apple Vision Pro, is the second tie-in with the tech giant in the last three months.

As regulators repeatedly press banks and fintechs to make sure their artificial intelligence models aren't "black boxes" and comply with existing law, the burden is on lenders to prove they are making such efforts.

Its broker channel will soon have access to a generative voice tool, allowing originators to update approval letters on the go.