Artificial intelligence

Agencies may issue information request on AI adoption, Fed official says

01/12/21

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.

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South African bank's approach to chatbots offers lessons for U.S. players

01/08/21

Absa Group is drawing on global training data from the fintech Kasisto and annotators who review conversations with clients to help in fine-tuning its virtual assistant.

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Fresh off IPO, Upstart aims to push boundaries of AI-based lending

12/20/20

The online lender, which raised $240 million, wants to take its artificial intelligence technology for evaluating borrowers to the next level and expand its partnerships with banks, its CEO says.

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TD sees big role for AI in fraud detection, lending decisions

12/10/20

“If you get your credit decisions right and you manage fraud well, you can run a very efficient bank. That’s an area where AI is very applicable,” Toronto-Dominion Bank's chief AI officer says.

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Douugh launches with AI to help the affluent improve financial habits

11/17/20

The challenger bank will start by recommending how much users should allocate toward savings and spending, and will later transfer those amounts automatically.

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Push to keep tabs on employees spurs union of monitoring firms

11/10/20

Smarsh, which enables banks and other clients to archive employee communications, is buying the AI firm Digital Reasoning as employers increasingly seek surveillance options for personnel working from home.

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BofA adapting consumer tech for use with corporate clients

10/15/20

Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.

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Databits: AI & automation

10/06/20

The industry has long talked about embracing digital technology — but the time for talk may be over.

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HUD finalizes contentious revamp of fair lending rule with one tweak

09/09/20

The final version of the amended rule, like the original proposal, makes fair lending claims tougher to prove; but it does soften language that otherwise might have allowed mortgage companies to use algorithms to prove nondiscrimination.

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Bank of America dominates digital banking. Here’s how it plans to stay ahead.

08/31/20

The bank is making continuous improvements, including integrating Merrill Lynch accounts into its banking app and adding a security feature to Zelle.

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