Artificial intelligence

7 (realistic) predictions about fintech in 2019

12/12/18

Even the best technologies take time, making it necessary to rein in expectations about what will happen and won't happen in the coming year.

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CFPB catches flak from banks, credit unions on risks of AI

12/06/18

Executives urged the consumer bureau at a public meeting to keep a closer eye on artificial intelligence innovations developed by fintech firms that are subject to less regulation.

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Wells fires district managers; Canadian banks back away from U.S. buys

12/06/18

This may be “the first wave” of managers being held accountable for the phony accounts scandal; high prices discouraging cross-border acquisitions.

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CommonBond braces for shift to Gen Z in buying student-coaching fintech

12/04/18

The online lender has acquired NextGenVest, which uses AI and text messaging to advise high school and college students about getting loans. CommonBond’s goal is to better understand the distinctly different demographic group rising behind millennials.

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Fed seeks market data from banks; Regulators encourage new technology

12/04/18

The Fed wants more information on Treasury and mortgage-backed securities; will overlook compliance failures resulting from pilot programs.

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SunTrust's AI investment fuels a future of payments by digital assistants

12/03/18

Banks are facing the potential of disruption by digital assistants from Apple, Amazon and Google — and are pouring money into machine learning to provide their own option for automating consumers' financial lives.

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Swelling corporate debt could come back to bite banks: OCC

12/03/18

The agency's semiannual report on risks in the industry focused heavily on the high volume of commercial loans as well as banks' exposure to nonfinancial corporate debt, which is near a record share of GDP.

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Agencies push banks to use AI, other means to fight launderers

12/03/18

The federal regulators said in a joint statement that they will take a bank's level of innovation into account in supervising its anti-money-laundering procedures.

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SunTrust's AI investment fuels a future of payments by digital assistants

12/03/18

Banks are facing the potential of disruption by digital assistants from Apple, Amazon and Google — and are pouring money into machine learning to provide their own option for automating consumers' financial lives.

[more]

Startups' new approach to PFM: Sit back, let us handle it

11/28/18

The latest personal financial management tools provide a more passive approach for customers that analyzes patterns and suggest ways to fix issues.

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