Machine learning

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

The software, which was developed by Feedzai, will eventually block payments that appear to be fraudulent or mistaken.

Executives urged the consumer bureau at a public meeting to keep a closer eye on artificial intelligence innovations developed by fintech firms that are subject to less regulation.

Striking the right balance between personalization and privacy is just one challenge the startup Finn AI is grappling with as it refines the artificial intelligence behind banking through Alexa and other devices.

The regtech firm Arachnys, which in 2010 entered a field dominated by established data providers, recently raised $10 million after gradually building a collection of 23,000 data sources that helps bankers protect themselves from money launderers and other criminals.