With financial institutions relying more and more on cloud computing services, Washington is increasingly focused on the concentration of industry data in the big three technology giants.
The bank is moving a large analytics program and a massive amount of data into Google's public cloud, which its tech chief says is more efficient, secure and better able to handle spikes in demand.
Banks need to mitigate potential bias in algorithmic predictive models using artificial intelligence, as regulators are weighing how to oversee the emerging technology.
Banks are right to fear the big tech companies that are eyeing financial services, according to Monish Kumar at Boston Consulting Group, who offers suggestions on how traditional lenders can protect their turf.
Google explored the OCC's fintech charter, then walked away; the biggest changes in digital banking could be just ahead; 'Truist' rebrand prompts lawsuit by N.C. credit union; and more from this week's most-read stories.
Readers weigh in on big tech companies walking away from OCC's fintech charter, House committee wanting Facebook to halt Libra, calls to stop Congress from delaying CECL, and more.
Many might think that the technological disruption of the industry is already underway, but it’s likely that the most significant restructuring is still yet to come.
