Investment

Commonwealth Bank of Australia has developed an advanced artificial intelligence tool that can spot harassment in transaction messages.

Bank customers' complaints of sudden account closures track a rise in automated anti-money-laundering decisions and possibly outdated AML rules.

During a second day of comparatively mild questioning from lawmakers in semiannual oversight hearings, Consumer Financial Protection Bureau Director Rohit Chopra said artificial intelligence could exacerbate existing weaknesses in the financial system without tighter protections.

An email security company has found a 12-fold increase in the number of phishing emails it has seen since the advent of ChatGPT, and malicious models may be to blame.

Top tech news in November: The Office of the Comptroller of the Currency's appointee to the Office of Financial Technology comes into question, Mint's closure presents opportunities for banks, bank and fintech leaders look toward generative artificial intelligence for innovation and more.

The banking industry needs to seriously grapple with the potential — for good and for ill — that generative AI presents for its future.

While ransomware group Alphv/Blackcat claims to have orchestrated the incident, title insurance company Fidelity National Financial has not yet stated whether confidential data was compromised.

JPMorgan set a target last year of $1 billion in "business value" generated by AI in 2023, and the firm increased that goal to $1.5 billion at its investor day in May.

The world's biggest banks have slowly begun experimenting more with artificial intelligence in recent months, spurred by the promise that it will help them boost staffers' productivity and cut costs.

Honorees on this year's list of the Most Powerful Women in credit unions have adopted tools powered by AI to help provide 24/7 support to members in a variety of languages, while also expanding access to vital capital for those from underserved communities.