TD Bank Finds AI Implementation Harder than Expected
About a year ago TD Bank acquired the AI startup Layer6 and they hoped to use their technology to quickly transform how they operate; ...
Wall Street Needs to Clean Up Data Before Seeing Power of AI
JPMorgan Co-President Daniel Pinto told Business Insider that the bank is working on a massive process of cleaning of data so they can use ...
AI is Helping Banks to Fight Elder Abuse
U.S. based banks reported a 12 percent increase in elder abuse from 2017 to 2018, a number thought to be low since banks are not ...
Banks Unsure Where AI Fits best
Artificial intelligence usage continues to increase inside the banking world and banks are trying to figure out where to best utilize the new tech ...
Auto Lenders Slow to Incorporate Machine Learning and AI
Auto lenders are not yet ready to turn credit decisions over to artificial intelligence and machine learning; Mike Kane, Ally Financial Services’ vice president of consumer ...
Huntington Bank Building AI into Key Engagement Tools
Regional banks like Huntington Bank find themselves stuck in the middle of the innovation wave; they are not big enough to innovate as they ...
Fintech Funding Hits Record High in 2018
Fintech funding reached $11bn in 2018, a 38 percent jump year over year; banking startups focused on customer data, trade digital currency and artificial intelligence for ...
The Black Box Issue with AI is Starting to be Solved
One of the biggest impediments to using AI to lend is that credit decisions are made in a black box and they cannot be explained; ...
Regulators Encourage AI Testing to Combat Money Laundering
Regulators issued a joint statement this week saying financial firms should start using AI technologies to comply with the Bank Secrecy Act and combat money ...
SunTrust Bank Invests AI to Improve Payments
SunTrust Bank has invested in payments firm Payrailz as the bank looks to bring a better experience to payments and personal financial management; the ...