BankThink
The headlong rush to apply AI to all sorts of internal systems runs the risk of damaging consumer trust in the industry. Banks should look to their history and be deliberate about how they integrate AI into their systems.
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As geopolitical threats loom, the U.S. needs a better-coordinated AML strategy. The Treasury Department's Financial Crimes Enforcement Network should take the lead in implementing needed reforms.
February 23
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Banks are deploying extremely powerful AI systems but expecting generalist employees to operate them safely and consistently without redesigning workflows around the technology. That virtually guarantees a bad outcome.
February 20
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Doubling down on what has worked in the past — especially if it's still working now — may inadvertently trap banks into business models ill-suited for the future. Smart bankers make room for change before it is forced on them.
February 18
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As artificial intelligence increasingly plays a role in the regulation of banks and other financial services firms, regulators need to be certain that these new systems aren't importing old biases into modern oversight.
February 17
Banc of California appoints Chris Healy its new executive director and head of payments; Lia Fordjour is named chief financial officer of the American Bankers Association; Airwallex is the latest fintech to lean on sports sponsorships; and more in this week's banking news roundup.
JPMorganChase, Citi, Vantage Bank and Custodia Bank have all chosen ethereum as the underpinning for blockchain projects such as tokenized deposits. The chairman of the Enterprise Ethereum Alliance explains the OG blockchain.
Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
BankThink is American Banker's platform for informed opinion about the ideas, trends and events reshaping financial services. View our