Investment

Banks are turning to the same hyperscalers for cloud computing and generative AI. Some wonder what the consequences will be down the road.

After a California woman spent more than a decade obtaining reparations for Nazi plundering of her family's belongings, the money disappeared from her bank account. Her saga highlights a gap in fraud cases between what consumers expect from their banks and what those banks are in a position to deliver.

There is fundamental work involved in laying a modern data foundation and adopting a flexible, data-driven, cloud-based IT architecture suitable for AI implementation. Most banks aren't there yet.

Cybersecurity leaders for Visa, Deluxe and Fiserv said powerful cloud players have been unresponsive to their requests to monitor the vendors' security postures.

By training a core payment card fraud-detection platform on more than 15 billion transactions, the card network is honing the accuracy of warnings sent to issuers about suspicious purchases.

The $1.1 billion-asset Vibrant is working with the San Francisco-based distributed ledger development firm Metallicus through its Metal Blockchain Banking Innovation Program to examine use cases.

The efforts, which respond to President Biden's October executive order on AI, aim to improve synthetic content detection and improve the trustworthiness of AI models.

The financial services company has found that engineers report higher satisfaction and save time when using a copilot to assist with coding.

A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.

Mark Warren and Thom Tillis have introduced the Secure Artificial Intelligence Act of 2024 to address the unique risks of AI.