News Topic: Artificial intelligence

Reports of improper charges by perpetrators who know the victim soared last year. Issuers and card networks are failing to tighten security, clearly label transactions and police chargebacks, critics say. ... Read full article

JPMorgan Chase said it wants to improve training for technology-related jobs and help community college programs. The five-year initiative is one of several the company has announced in recent years in the name of community development. ... Read full article

The companies have teamed up on a product to help banks, especially small ones, give customers more accurate insights into their own financial health. ... Read full article

ComplyAdvantage, Cinnamon and Zoovu recently raised millions of dollars to fuel expansion of their automated risk management, data-scanning and customer service products geared toward financial services companies. ... Read full article

The bank and card program provider is starting to use AI in many areas, but it's also trying to build paths forward for employees whose jobs will be affected. ... Read full article

The order coincides with concerns about China’s ambitions to dominate the sector and the likelihood of disruption for workers as the technology automates millions of jobs, ... Read full article

A year after buying the artificial intelligence fintech Layer 6, TD Bank is "rewiring how the organization has worked," Gregory Braca says. ... Read full article

Policymakers need to update banking regulations to minimize the risks posed by technology companies entering financial services, a well-known policy analyst says in a new paper. ... Read full article

Banks use anti-money-laundering and fraud systems to try to catch scams that prey on senior citizens. A few, including Wells Fargo, are working on artificial intelligence that could spot them even earlier. ... Read full article

Many bankers say they’re more comfortable with using artificial intelligence behind the scenes, but others — including Synchrony and Wells Fargo — insist AI can be used to interact with customers if it’s deployed properly. ... Read full article

There are concerns that artificial intelligence could erase jobs across financial firms, but it will actually benefit employees by cutting rote tasks, giving them time to focus on more fulfilling work. ... Read full article

The data aggregator has purchased Abe AI and plans to use the artificial intelligence firm's technology in a host of applications. ... Read full article

CFPB to scrap key underwriting portion of payday rule; Fiserv-First Data — why small banks fear big fintech; banks, credit unions help federal workers hurt by shutdown; and more from this week's most-read stories. ... Read full article

Robotic process automation is said to have a high return on investment, but adopting it on a large scale has proven challenging, especially at community banks. ... Read full article

In venturing into what's normally a province of large banks, nbkc in Kansas City, Mo., discovered innovative tax-management and other products that it could offer to its own customers or sell to other banks. ... Read full article

The accounts — which eschew paper checks and overdraft protection — appeal beyond the low-income customers they were intended for; lenders are embracing artificial intelligence systems to analyze more data to determine creditworthiness. ... Read full article

Bank technologists see the potential for AI in lending, money laundering detection, fraud and other areas. Regulators and bank executives insist on “explainability.” ... Read full article

A Colorado businessman's request for a preliminary injunction to stop the bank from using the name “Erica” has been denied. The overall case could still go to trial, but skeptical comments by the judge suggest BofA will likely prevail. ... Read full article