Investment

Financial institutions, regulators, and developers are aligning around a common goal of creating infrastructure that makes our global financial system faster, more efficient, and more secure.

The company's new CEO, and long-time chief technology officer, shares his views on why some banks are stuck in old ways of determining creditworthiness, how Upstart has been modifying its underwriting models and the objections people sometimes have to AI-based lending.

Plans were moving along smoothly for a new data center in Franklin County, Missouri — until residents found out about it. Now the project is facing a fierce public backlash, and a local community bank is caught in the crossfire.

Three senior officials say attackers will eventually breach bank defenses, and supervisors should plan for it — while U.S. regulators stay nearly silent.

Bankers and tech executives at SAS' annual conference said agentic AI is still in the "terrible twos" stage and requires human supervision.

The revelation that Mythos, the latest version of Anthropic's Claude large language model, can unearth unknown vulnerabilities in computer systems and websites is a crisis moment, especially for community banks.

Federal Reserve Gov. Lisa Cook said Friday that she believes tokenization could improve efficiency across the financial system, including faster settlement times and more effective recordkeeping. But those advantages will take place within traditional finance rather than supplanting it, she said.

The lenders' examples of using generative artificial intelligence were more practical than transformational, but in any case data challenges represent a common problem.

Citi payments exec Driss Temsamani said there's more work needed to bridge gaps to enable artificial intelligence to work broadly for payments and finance.

On Thursday, Citi will hold its first investor day in four years. The megabank, which has undergone substantial change under CEO Jane Fraser, is expected to share its strategy for driving higher profitability, deploying AI and ramping up shareholder returns.