Investment

Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.

Six North American banks did well in Evident's latest assessment of banks' AI efforts, but JPMorgan and Capital One have a clear lead. 

Visa, Mastercard and Global Payments discuss impacts on customer service, web content, security and more.

A federal judge has issued a temporary restraining order against websites created by Storm-1152. That organization allegedly supplies fake Microsoft accounts to groups like Scattered Spider, whose targets include financial companies.

Members of the Financial Stability Oversight Council Thursday warned of increasing financial risks posed by artificial intelligence in its annual report, noting AI's potential to amplify cyber threats, induce herd behavior and even compromise bank safety and soundness.

The Swedish payment company is using generative artificial intelligence to make its human workforce more efficient — but also expects the technology to fill in for roles it loses to attrition.

In the coming year, banks, fintechs and credit unions will be watching the elections and working out how to incorporate AI into their businesses.

Integrating artificial intelligence into the world of banking and finance must be a cooperative effort between the industry and regulators. It's important that the discussions start now.

An increase in paper mail theft corresponds with a rise in physically altered checks that redirect funds to fraudsters.

The deadline for compliance with the Securities and Exchange Commission's new cyber disclosure regulations is coming. Banks need to be ready.