News Topic: Artificial intelligence

The software, which was developed by Feedzai, will eventually block payments that appear to be fraudulent or mistaken. ... Read full article

Rich Baich, Wells Fargo's security chief and newly appointed security advisor to the White House, shares attack types he’s worried about and top defenses. ... Read full article

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. ... Read full article

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. ... Read full article

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

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. ... Read full article

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

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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

MyBucks and its subsidiary, New Finance Bank, have opened 4,200 digital banking accounts and provided 72 loans at a Malawi branch said to be the first of its kind in a refugee camp. ... Read full article

The Omidyar Network has invested in five challenger banks. Tilman Ehrbeck, who is leading its financial inclusion efforts, says the firm will invest more in apps for gig workers and retirees next year. ... Read full article

The Federal Reserve is paying close attention to how it might regulate artificial intelligence and machine learning, Fed Gov. Lael Brainard said in a speech Tuesday. ... Read full article

Promontory Financial Group CEO Eugene Ludwig says AI tools can remove the risks — and discrimination — involved in opening the U.S. financial system to newcomers. ... Read full article

Jelena McWilliams has signaled a thaw in the agency’s approach to industrial loan companies, but she said tech firms and other nonbanks seeking charters should face the same level of regulatory scrutiny as more traditional banks. ... Read full article

The high-profile Michelle Moore will step down at year-end, to be replaced by David Tyrie. More synergy between digital operations and consumer products, while maintaining financial discipline, seems to be an important priority. ... Read full article