Galileo Processing has created a digital banking product that seeks to provide wealth managers with the offering they generally lack: an in-house savings account that pays competitive rates.
New posts for two women executives at JPMorgan Chase spur a fresh round of speculation about the race to succeed CEO Jamie Dimon someday. And Comerica's heir apparent finally gets the call.
Measures of loan performance were generally better than expected at Ally, American Express, Synchrony and Sallie Mae. Their 1Q reports suggest that consumers remain able to meet their obligations despite a long run-up in debt.
There’s currently a focus on investing in technology and data to remain competitive, but financial firms also need to ensure they are helping workers adapt, argues Synchrony’s Margaret Keane.
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.
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.
Though banks are generating more revenue from interchange and annual fees, those gains have been offset by declines in income from cash advances and late fees.
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.
