Leading investors say too many traditional financial institutions, out of their depth in fintech investment, end up placing controls that slow down otherwise nimble young companies.
The lab works with more than 200 data scientists to create access to affordable credit and help financial firms match products to customers, the company says.
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.
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.
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.
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.
