Technology

The Treasury Department's chief AI officer said artificial intelligence can relieve the burden of mind-numbing activities such as anomaly detection and can spur employees to think more creatively.

A letter led by Sen. Elizabeth Warren, D-Mass., urges bank regulators to crack down on banking as a service, while another led by Sen. Jack Reed, D-R.I., asks that the Consumer Financial Protection Bureau more closely monitor buy now/pay later companies.

As the toll of financial crime rises, the card network is attempting to boost its fraud-fighting game by buying threat intelligence firm Recorded Future.

As banks deploy AI to cut costs, some face pressure to define long-term value, Finovate speakers said this week.

The card network is building a model for account-to-account payments, which are gaining popularity, while Swedish regulators criticize Klarna's money-laundering prevention efforts. That and more in American Banker's global payments roundup.

Mark McArdle advised attendees to remain cautious about the reasons behind implementation of artificial intelligence.

The bank has partnered with a fintech, Zentist, to give dentists a system that automates insurance and billing processes.

As the Consumer Financial Protection Bureau increases scrutiny of earned wage access, cash-back fees and airline rewards, industry lobbyists are pushing back, while some groups cheer the move.

Crooks can use deepfakes and other machine learning tools to circumvent traditional authentication security methods. Payment experts discuss how firms can protect themselves.

The payment company is enabling consumers to stack multiple cash-back offers as a way to lure consumers to its alternative digital wallet.