Technology

Sunrise Banks and other members of the Global Alliance for Banking on Values are encouraging their employees to train the generative AI models they use, so that the models understand values-based banking.

Federal Reserve Board Gov. Stephen Miran said the growth of stablecoins and cryptocurrencies will likely impact monetary policy and could lead to lower interest rates.

Eric Girard, who became the bank's head of embedded banking and co-head of commercial product in October, is aiming to make the technology more accessible.

Crypto is slowly but surely being integrated into the banking applications consumers trust and use every day. It's not the crypto revolution purists imagined, but it's very good news for consumers and bankers alike.

Federal Reserve Vice Chair Philip Jefferson said that as interest rates have moved toward a more neutral level, "it makes sense" now to proceed with caution.

The payment and commerce company's stock fell as much as 12% in afterhours trading on Thursday after the fintech missed Wall Street's earnings estimates, despite posting growth in all lines of business and increasing its full year guidance.

The digital neobank is expecting spending to stay strong through current economic conditions, and a new credit card is projected to bring in increased revenue.

Analysts say the fintech must "grow like a fintech, but be profitable like a bank" as its capital base shrinks to its lowest level to date.

A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments. 

Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.