Some bankers fear the use of artificial intelligence in detecting crime could catch innocent customers in a dragnet. Proponents say it can do a better job of spotting true criminals.
U.S. Bank has begun using Einstein, Salesforce’s AI software, to give front-line staff insights into customer activity and recommendations. Other banks are likely to add similar tools.
The Spanish bank's VC arm added two companies focused on artificial intelligence to its portfolio this week. Both firms promise to help banks connect better with customers.
As the CFPB prods banks to improve their debt collection processes, tech firms are applying artificial intelligence, chatbots and self-service portals to create a more enlightened approach.
Readers this week highlighted the need for banks to upgrade payments systems, debated a small bank’s decision to ditch its legacy core vendor, lamented populist initiatives of the GSEs, and more.
Jerome Powell says it's “now or never” to cut the government’s role in mortgage finance; Justice Department is monitoring eight banks for suspected money laundering.
