- + Banks, fintechs back in the M&A game—Mergers and acquisitions are heating up after a subdued 2023, with investors on the hunt for strategic deals, especially in the fintech and financial ...
- + Discover: AI accelerates RPA lifecycle—Discover Financial Services is looking to AI to help boost its coding and robotic process automation efforts. When implementing robotic process auto...
- + Bankman-Fried is sentenced to 25 years in prison over FTX collapse—FTX co-founder Sam Bankman-Fried was sentenced to 25 years in prison for stealing billions of dollars from customers, marking the final chapter in a c...
- + Ally Financial names Rhodes as CEO—Ally Financial named a new chief executive today, ending a three-month search. Michael Rhodes will take the reins of the bank April 29 and become a me...
- + The Power of Machine Learning in Transaction Monitoring—In the banking industry, transaction monitoring stands as a critical pillar of defense against fraud, money laundering, and other illicit activities. ...
- + nCino acquires DocFox to accelerate platform expansion—Technology provider nCino is looking to create a single platform in the cloud that offers deposits, business loans and personal loans, while meeting r...
- + European Transactions: Nationwide to acquire Virgin Money for $3.7B—Swindon, U.K.-based Nationwide Group has offered to acquire U.K.-based financial institution Virgin Money for 2.9 billion pounds ($3.7 billion) in cas...
- + Visa adds new AI tools to help fight digital fraud on payments—Visa Inc. is adding three new AI-powered fraud-prevention tools to its suite of products for business clients as the credit-card giant uses the techno...
- + MSUFCU: Failure is a key part of innovation—Financial institutions should expect to fail when exploring new technologies, Ami Iceman Hauter, chief research and digital experience officer at Mich...
- + Podcast: Mastercard developing gen AI tool for businesses—Payments behemoth Mastercard this year plans to launch a generative AI tool that will cater to businesses. Entrepreneurs looking to start a business...
- + KeyBank focuses on gen AI COE—KeyBank is establishing a generative AI center of excellence to navigate the new technology before it is regulated. “One of the things we’re hyper-fo...
- + Next-gen Financial Document Processing: A Must for Modern Banking—Document processing is a routine task in the finance industry, but does it have to be manual? In an era where the banking sector is grappling with a g...
- + Junior, senior coders split on the use of gen AI—PNC Financial Services’ junior and senior coders are split on how much they can rely on generative AI for code generation and writing. Junior coders ...
- + Arc planning global expansion—Arc Technologies looks to expand its global footprint, grow revenue and gain business customers over the next five years. The digital bank plans to c...
- + FedNow overtakes TCH in adoption—FedNow, launched just eight months ago, has overtaken its main competitor, The Clearing House’s Real-Time Payments network, in terms of the number of ...
- + 60% of KeyBank automation team targets risk—NASHVILLE, Tenn. — KeyBank is working to automate as many risk controls as possible as threats continue to tick up. “Over the last year, we shifted t...
- + The potential of AI-powered chatbots in banking customer support—Banking customer support is no walk in the park. Customers come with diverse problems, from lost cards to unclear charges, and they expect quick, prec...
- + KeyBank 2-3 years from gen AI features for customers—Both KeyBank and PNC Bank are exercising caution in how they roll out generative AI to their customers. The models need to be refined for accuracy be...
- + How AI and Automation are Changing the Banking Landscape—The banking sector is a significant component of the global economy, and it is currently undergoing a major transformation powered by the integration ...
- + Multifactor authentication critical for banks, IBM says—Financial institutions must prioritize multifactor authentication as hackers take advantage of a lack of identity protection. In 2023, cyberattacks ...
- + Fifth Third CIO: Chatbot 97% accurate in classifying customer intent—NASHVILLE, Tenn. — Fifth Third Bank says that added efficiencies to its chatbot have boosted its accuracy rate as it leans into generative AI. When i...
- + LemonadeLXP wins inaugural Demo Challenge—NASHVILLE, Tenn. — Digital banking service provider LemonadeLXP won the inaugural Demo Challenge at Bank Automation Summit U.S. 2024. Nine financial ...
- + Bank of America’s CashPro Chat reaches 60% adoption—NASHVILLE, Tenn. — CashPro, Bank of America’s business banking platform, is seeing increased adoption as features and services are added. Adoption of...
- + Now is the time to reimagine wealth management—The Music is Starting to Stop Recent years have been extremely lucrative for wealth advisors; both the independents and full-freight firms. Low cost o...
- + Wells Fargo AI pipeline hits 191 projects—NASHVILLE, Tenn. — Wells Fargo is amping up its artificial intelligence project pipeline. The bank has 191 AI, machine learning and natural language ...
- + BankUnited deploys chatbot for internal searches—NASHVILLE, Tenn. — BankUnited has deployed an AI chatbot to help employees search for information and procedures internally. The deployment was disclo...
- + Arc sees 12X originations growth after SVB collapse—NASHVILLE, Tenn. — Arc Technologies charted a 12X increase in loan originations year over year in 2023, as it gained customers and deposits when busin...
- + Arc sees 12X growth after SVB collapse—Nashville, Tenn. — Arc Technologies charted a 12X increase in loan originations year over year in 2023, as it gained customers and deposits when busin...
- + Wells Fargo forms internal council on gen AI deployment—NASHVILLE, Tenn. — Wells Fargo has created a generative AI council within the organization to study implementation, development and deployment of gen ...
- + Inside Wells Fargo’s gen AI council—NASHVILLE, Tenn. — Wells Fargo has created a generative AI council within the organization to study implementation, development and deployment of gen ...
- + Navigating the Future of Credit Risk: The AI and Automation Advantage—In the dynamic world of financial services, the need for rapid and precise credit decisions has never been more crucial. This demand is driving a tran...
- + Fintech Funding: Tough 2023 attributed to ‘cautious’ VCs, high interest rates—Fintech valuations and funding rounds had a tough year in 2023 as high interest rates pushed investors into capital conservation mode. In 2023, “VCs ...
- + 3 themes to watch at Bank Automation Summit U.S. 2024—NASHVILLE — Bank Automation Summit U.S. 2024 kicks off today with panelists from BankUnited, Fifth Third Bank and Wells Fargo taking the stage to disc...
- + AI that shows how your business flows: Bringing together generative AI and process intelligence—AI has landed for the consumer. It’s no longer a topic for data scientists and IT alone. But what is Generative AI? Equally as mystifying is Process I...
- + Fintechs look to megabanks a year after SVB collapse—Fintechs are looking to legacy banks with strong portfolios to provide seamless onboarding and digital capabilities following the regional banking cri...
- + Grasshopper CEO previews faster check clearance—Digital Grasshopper Bank will roll out an improved check-clearing process this year to streamline the time between depositing a check and gaining acce...
- + APWHY? Public APIs, Automation, and The Strategy Banks Are Missing—We Were Promised Flying Cars In 2014, Gartner predicted over 75% of the Fortune 1000 would have public APIs by 2017. This number is way higher in 2024...
- + CFPB: Open banking update—Consumer Financial Protection Bureau Director Rohit Chopra released an update today on the bureau’s Personal Financial Data Rights rule-sharing based ...
- + Inside ING’s hybrid, multi-cloud strategy—ING Bank is moving its operations to the cloud for scalability, efficiency and security. The $967 billion bank’s operations are 65% on a private clou...
- + Podcast: Grasshopper CEO Butler talks growth—Grasshopper Bank is investing in its digital offerings to meet its clients where they want to be met — whether through self-service channels or other ...
- + Navy Federal developing omnichannel platform—Navy Federal Credit Union is developing an omnichannel lending platform as credit unions and captives prioritize technology upgrades in the face of in...
- + The Role of Digital Document Collection in Fraud Prevention—Navigating the landscape of finance and technology requires innovation and a strategic vision addressing industry challenges. A big concern is the sta...
- + Transactions: Greylock FCU selects Alkami for digital banking—Greylock Federal Credit Union has selected Alkami to improve its digital banking offerings. The $1.5 billion credit union will implement the Alkami D...
- + On the job with … Director of Innovation Management at Mastercard Foundry—Mastercard Foundry, the innovation hub for product development at the card giant, is creating a new technology-focused position, as it continues its t...
- + First Financial Bank posts 27% increase in CDs using AI—First Financial Bank has grown its operations and attracted new customers through implementation of an AI-driven digital assistant. The $4.8 billion...
- + Podcast: Digital bank grows account volumes by 420%—Fintel Connect helps Live Oak Bank increase its deposit volume. The digital, FDIC-insured bank looked to affiliate marketing platform Fintel Connect ...
- + ClearBank eyeing EU license—Bristol, U.K.-based ClearBank has applied for a license to expand its services to Europe in search of growth. ClearBank officials are hopeful for app...
- + ClearBank eyeing EU license for Q2—Bristol, U.K.-based ClearBank has applied for a license to expand its services to Europe in search of growth. ClearBank officials are hopeful for app...
- + 1 in 5 Bank of America patents AI-focused—To keep up with consumer demand for digital capabilities, Bank of America’s inventors focus on solving client problems and removing friction through i...
- + Open banking: An opportunity for banks to sell data—Banks are looking for ways to monetize the sharing of consumer data as open banking regulations are passed across the globe. Open banking pushes bank...
- + Mastercard implements executive oversight on gen AI—To ensure that data is handled responsibly, Mastercard uses an established set of data and tech responsibility standards as well as additional senior ...
- + TD rolls out Tap to Pay for iPhone—TD Bank is targeting microbusiness payments with the launch of its Tap-to-Pay solution that helps turn iPhones into point-of-sale machines. The solut...
- + Academy Bank’s AI playbook—Academy Bank is investing in AI this year to ensure that its operations are more efficient and more useful for the end user. “Our top goal for the ye...
- + Transactions: JPM subsidiary buys LayerOne Financial—JPMorgan subsidiary Neovest Holdings has acquired investment management company LayerOne Financial for an undisclosed sum. Neovest, a fintech for bro...
- + JPM subsidiary buys LayerOne Financial—JPMorgan subsidiary Neovest Holdings has acquired investment management company LayerOne Financial for an undisclosed sum. Neovest, a fintech for bro...
- + 5 questions with … Google Cloud’s James Dean—James Dean, global generative AI specialist and financial services industry lead at Google Cloud, will speak at Bank Automation Summit U.S. 2024 on Mo...
- + Dave posts first quarterly profit since going public—For the first time since going public in 2022, digital bank Dave posted a profitable quarter. Dave reported fourth-quarter adjusted EBIDTA of $10 mil...
- + Dave posts first quarterly profit since 2016 inception—For the first time since it was founded in 2016, digital bank Dave posted a profitable quarter. Dave reported fourth-quarter adjusted EBIDTA of $10 m...
- + Why Fifth Third is forgoing in-house AI development—Technology buzz, both inside and outside the banking industry, is centered on innovation — including the ongoing ramp of cloud migration and the excit...
- + Lloyds prioritizes cybersecurity, regtech investment—Lloyds Bank is looking to invest in cybersecurity and technology related to insurance and regulatory monitoring in 2024 amid uncertain macroeconomic c...
- + Podcast: Citizens’ approach to new tech—Citizens Bank takes a measured approach to adopting new technology. The best new products are created with an abundance of identified use cases, Jo ...
- + JPM exploring synthetic data for AML, software engineering—JPMorgan is exploring the use of synthetic data to streamline its anti-money laundering and software engineering processes. Synthetic data refers to...
- + Citizens receives patent for its Digital Butler—Citizens Bank’s virtual assistant, Digital Butler, was granted a patent this week for its “high degree of personalization,” Jo Wyper, executive vice p...
- + 5 questions with … ING’s Marco Eijsackers—ING Bank’s Marco Eijsackers, is head of CIO office, where he is focused on developing and deploying emerging technologies within the $967 billion bank...
- + Canadian banks focus on tech, efficiency, innovation—Canadian banks leaned into technology spend during the most recent quarter as efficiency and innovation remained a priority. “Transformational level ...
- + Quantum tech can increase trading speed by 15% to 20%—Quantum tech provider Quantum Dice has developed hardware to make financial services operations faster and more efficient. The Oxford, U.K.-based co...
- + What bank execs are saying about embedded finance—LONDON — Will embedded finance technology usher in a new era of banking, or is the impact of the technology overblown? Bank executives from ClearBank...
- + National Bank of Canada prioritizes cost management in Q1—National Bank of Canada focused on cost management and overall efficiency as it boosted tech spend and pulled back on headcount in the first quarter o...
- + Canadian transactions: RBC acquisition of HSBC Canada set to close March 28—Royal Bank of Canada’s deal to acquire HSBC Canada for $10 billion, announced in November, is expected to close on March 28. The bank announced last ...
- + BMO focuses on digital-first strategy—BMO continued to deliver on its digital-first agenda during its 2024 fiscal first quarter through innovation and new offerings. The Montreal-based b...
- + Scotiabank tech spend climbs 13%—Scotiabank‘s tech spend climbed in the fourth quarter as the bank invested in digitalization and automation to keep up with client demand. The Canadi...
- + 60% of ING’s mortgage applications are video based—LONDON — ING Bank saw increased adoption of its video-based customer service options in 2023, specifically for mortgage applications. “Almost 50% of ...
- + Arivo CEO prioritizes AI, looks to boost efficiency 30%—Subprime lender Arivo Acceptance Chief Executive Landon Starr will continue to embrace technology while making structural adjustments to the company’s...
- + Bankers will see AI transform three-quarters of day, study says—Artificial intelligence is likely to replace or at least lend a hand in tasks that take up almost three-quarters of the time bank employees now spend ...
- + Unlocking the Power of AI: Identifying Bank Statement Fraud through Knowledge Graphs—Artificial Intelligence (AI) is a game-changer in financial services, particularly in detecting and preventing fraud. It is proving its efficacy in id...
- + FIS certified to send, receive payments on FedNow—Technology provider FIS is now certified to send and receive payments on the FedNow payments rail as demand for the rail grows. FIS has 215 clients i...
- + BNY appoints Gerdeman as global head of data and analytics—BNY Mellon has appointed Julie Gerdeman as its global head of data and analytics. Gerdeman will be responsible for managing software and data for nea...
- + Podcast: Jack Henry’s incoming CEO talks 4 tenets of leadership—Jack Henry Chief Operating Officer Greg Adelson will take over as chief executive for the tech provider in July. On this episode of “The Buzz” podca...
- + First Bank CIO Thomas joins Bank Automation Summit U.S. 2024 speaker faculty—Terrence Thomas, executive vice president and chief information officer at First Bank, will speak at Bank Automation Summit U.S. 2024 on Monday, March...
- + Envestnet data and analytics revenue falls 7% YoY—Envestnet data and analytics revenue fell during its fiscal fourth quarter amid rumblings in December of a Yodlee sale. The wealthtech giant’s data a...
- + Cap One could dodge law requiring added processing capacity—Capital One could be excluded from the proposed Credit Card Competition Act of 2023 if its acquisition of Discover Financial Services goes through and...
- + Nvidia’s data center revenue up 409%—Chip manufacturing behemoth Nvidia posted record revenue in the fourth quarter as companies across industries look to develop and deploy generative AI...
- + Lloyds Bank to reduce costs by $1.5B in 2024—Lloyds Bank is modernizing its technology and expects to save 1.2 billion pounds ($1.5 billion) through the efforts in 2024. The London-based bank’s...
- + FIS leader talks M&A, tech integration—Institutions approaching mergers and acquisitions must consider how to combine cultures, business models in addition to their tech stacks. Tech stack...
- + Transactions: U.S. Bank, Pagaya join forces for AI-driven underwriting—U.S. Bank is using technology company Pagaya to leverage its AI-driven underwriting for personal loans to consumers. Pagaya’s AI-powered credit deci...
As of 3/29/24 3:50am. Last new 3/28/24 6:15pm. Score: 209
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