Investment

A recent survey of financial institutions found that for smaller banks and credit unions, customer experience is once again a top priority and among all banks, the interest in advanced AI is higher than ever.

The fintech, a partner of OpenAI, is also a provider to several developers of emerging artificial intelligence.

U.S. Bancorp and Truist picked literal names for their virtual assistants to avoid confusing customers, while Fifth Third and Regions created characters called "Jeanie" and "Reggie" to put clients at ease. Other companies are trying to split the difference.

The payments company launched a $100 million fund for generative AI, creating a potential group of partners that can build on the card network's global scale.

A remnant of the failed bank, now owned by First Citizens, is trying to reclaim its once-prominent role in venture-debt lending to startups. But competition from HSBC and JPMorgan Chase as well as fintechs has multiplied in recent months.

Financial institutions must adopt a tech mindset that aligns with – and promotes – broader enterprise goals.

In a Wednesday Congressional hearing, an assistant superintendent explained why her school district decided to pay a ransom to cyber criminals. It's a cautionary tale for banks, which are often targets.

The card network has teamed with Rochester Institute of Technology's Dubai satellite to foster local AI talent, and has several other AI efforts underway.

Financial institutions are generally familiar with ChatGPT, but other options exist such as language models sold by Anthropic and Cohere. Research firms, academics and others are racing to develop benchmarks for comparison shopping.

Through its commitment of up to $4 billion in Anthropic, the e-commerce giant can bring advanced analysis, shopping and checkout tech closer to the point of sale — and farther away from traditional transaction processors.