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Air Canada was penalized for misinformation generated by its chatbot; Patagonia has been accused of letting a vendor's AI model analyze customer service conversations without consent. These cases have parallels in banking, where many institutions use AI-based chatbots and contact center software.
August 8
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Lincoln Savings Bank and Vantage Bank are two new clients of banking-as-a-service provider Unit. They say it improves their ability to 'go direct' rather than hinder it.
August 7
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The Bank of England and the Bank for International Settlements have built a gauge to measure stablecoin reserves, and U.K. challenger bank Monzo is offering a bonus interest rate.
August 7
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During a market rally following Monday's correction, MoneyLion was left behind despite beating analyst expectations and issuing a positive outlook.
August 6
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Monday's market decline has sparked concerns of an economic downturn, calling attention to installment lenders that market to distressed consumers.
August 5
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A long-time industry observer and bank regulation expert spells out the steps banks should take to ensure their fintech relationships are safe.
August 5
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Ent Credit Union in Colorado is using automated customer relationship management software from Creatio to help improve its employee-facing data management systems without the need for computer programmers.
August 5
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Industry participants say more direct communication between fintechs and federal regulators could help avoid bad outcomes. Some underused legal tools could help bridge the gap.
August 2
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The federal Project Fortress initiative provides defensive tools for banks. Community banking groups and regulators' associations say small banks in particular need the free and accessible help.
August 2
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The payment option has grown beyond underbanked consumers. For issuers, a $1 trillion market is at stake.
August 2
