Technology

Federal Reserve Board Gov. Christopher Waller said interlinking instant payments systems could come with a steep price tag for banks and heightened risks for customers.

A minority of American Banker's Best Credit Unions to Work For report using AI. But such projects could help excite employees about their roles and eliminate routine work.

The largest issuer in the U.S. has added consumer perks to its collaboration with DoorDash in an effort to expand relationships in its payments business.

The banking-as-a-service company is still going through bankruptcy proceedings and millions in customer funds remain missing, but founder Sankaet Pathak has already made a fresh start and won venture capital support.

Social Security numbers are a dime a dozen on the black market, so cybercriminals are going after bigger and more sophisticated databases.

Banks are concerned about the lack of clarity regarding legal liability in the Consumer Financial Protection Bureau's open banking rule, and fear that they will end up on the hook for data breaches or unauthorized transactions caused by a fintech or data provider.

The superregional bank is buying Salucro Healthcare Solutions for an undisclosed amount. Salucro provides online billing and payments services to health care providers.

If efforts to make AI-based loan decision models less discriminatory degrade accuracy, that is problematic for the entire industry. 

As with EVs, digital money was a niche product for years before gaining widespread acceptance. Now, digital blockchain-based monies might be on the verge of a major breakthrough.

Vice Chair for Supervision Michael Barr says generative AI could present financial-stability risks if certain models are used ubiquitously.