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 ...
Alfresco’s Use of AI Simplifying Bank Loan Process
Financial services software giant Alfresco Software, has launched the first technology demonstration utilizing artificial intelligence (AI), machine learning (ML), and process automation to ...
Revolut Invests Heavily in Data Science and Engineering to Reduce Fraud
Revolut has spent the last year investing heavily in data science and engineering techniques to reduce the level of fraud for their more than 3 ...
Ping An Looks Outside China Using Fintech and AI to Scale
Ping An has built one of the most powerful conglomerates in the world utilizing fintech and AI to help scale in recent years; now ...
Powering Small Business Lending with AI
As small businesses have been underserved by banks, other alternative finance platforms have come in to fill the gaps; OakNorth Analytical Intelligence has found that ...
SEC Launches New Division to Work with Fintech Startups
The U.S. Securities and Exchange Commission (SEC) is launching a new division to work with fintech startups and companies looking to do an initial ...
TD Banks Wants 90 Percent of Transactions to be Self Serve
TD Bank has a goal where 90 percent of transactions are self serve within 3 years; “Today in Canada we have 81 percent of ...
Only a Handful of Big U.S. Funds are Using AI
A new survey of over 900 institutional investors by Fidelity shows 71 percent of U.S. based investment funds are not testing how AI can ...
Early Lessons from Financial AI Implementation
Last week at BankAI speakers talked about some of the early lessons they learned when implementing AI for financial services; lessons include funding & ...