Investment

Mitsubishi UFJ Financial Group is in talks to invest about $200 million in Akulaku, an Indonesian online lender backed by Jack Ma's Ant Group, according to people familiar with the matter.

Harris, who leads the New York State Department of Financial Services, will join the Financial Stability Oversight Council next year. She will replace Charles Cooper of Texas as the representative of state bank supervisors.

WaFd Bank is using conversational artificial intelligence to make the contact center and online chat experience smoother for both customers and agents.

The challenger bank for Black and Latino individuals introduced Elevate, a membership-only tier that includes access to private clubhouses and networking aimed at people of color.

The bank will apply the company's AI first to its risk models, an HR avatar and a metaverse presence.

It's only been two months since the Biden administration posted its blueprint for an AI Bill of Rights, but government agencies are starting to apply it in areas of financial services where discrimination is a concern, according to speakers at a Brookings Institution event.

Banking companies are increasingly using application programming interfaces that transfer customer information to third-party money-management apps popular with consumers. But fraudsters are exploiting vulnerabilities in the technology to steal information.

A blueprint for a shared ledger for digital money would include central bank digital currencies, bank deposits and e-money from companies like PayPal — but not unsupervised cryptocurrencies.

Security researchers recently infiltrated a cybergang that stole account credentials with convincing, spoof websites. Could an ABA-endorsed solution help?

Btech Consortium, a partnership between several small banks, a venture capital firm and an asset manager, will identify emerging technologies that meet their members' near-term needs.