News Topic: Machine learning

A broader cross-section of hires and added training could help financial institutions avoid problems with algorithm-based discrimination in lending. ... Read full article

Envestnet's aggregator rolls out PFM features meant to appeal to younger clients — and links to Alexa. ... Read full article

Google's new voice assistant technology may be the best right now at imitating human speech. That makes it a potentially powerful tool for bankers — and for cybercrooks. ... Read full article

Bank executives embrace the idea of artificial intelligence and say it will create jobs, while analysts say it will reduce jobs. Employees are anxious about AI but willing to try to work with it. All agree AI is already making an impact. ... Read full article

Manuela Veloso, head of the machine learning department at Carnegie Mellon University, will join the bank in July. ... Read full article

AI in a car can be fatal. What could go wrong with AI in a bank? A new council established by BofA and Harvard hopes to minimize unintended consequences that could jeopardize consumers' financial well-being or discriminate against them. ... Read full article

While the banking industry is divided on the use of conversational technology, the San Francisco company believes chatbots can make it easier for customers to discuss their finances. ... Read full article

HSBC is letting artificial intelligence software predict the types of reward offers card customers prefer. It's driving up response rates in marketing tests, but the process raises privacy and other issues. ... Read full article

Artificial intelligence is expected to bring financial services to millions, yet it could also make unethical decisions that unfairly deny credit and widen the divide between haves and have-nots, says Nicolas Economou of the nonprofit Future Society. ... Read full article

In a move rare for the industry, the bank bought a team of data scientists to bolster its artificial intelligence efforts in areas including product recommendations and fraud prevention. ... Read full article

Banks are increasingly investing in technology that will enable them to deliver highly personal and customized communications with customers. ... Read full article

With so much uncertainty, the only thing that's clear is how different the sector may look a year from now. Here's an overview of the leading trends in technology that will impact banking in 2018. ... Read full article

TD Bank's new lab seeks to divine the future of banking. ... Read full article

BankMobile, the digital-only subsidiary of Customers Bank in Wyomissing, Pa., is planning to use software by Upstart to offer its first credit product to the students it reaches through relationships with 800 universities. ... Read full article

Key efforts for banks include developing AI applications, adding fintech allies and strengthening cyberdefenses. ... Read full article

As many as a dozen financial institutions are deploying IBM’s Watson to search for signs of employee misconduct so they can avoid a Wells Fargo-size scandal. But the legal and technical limits of its use are major issues. ... Read full article

Banks such as Citigroup, Regions and TD have decided they need to offer mobile customers truly customized experiences. They are experimenting with different ways of doing so that come across as helpful without being intrusive. ... Read full article

Bankers need to set aside their post-crisis aversion to risk, recapture some of the magic they once practiced as innovators, fear fintechs less, and worry about the Googles and Amazons more, says Peter Memon, a bank IT veteran turned global consultant. ... Read full article