Technology

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.

Banks are boosting their use of new machine learning to improve security risk, but securing international transactions presents a different set of challenges.

Even as quantum computers still can't break encryption, the banking industry has been preparing for more than a year to start switching to post-quantum cryptography.

While financial institutions continue to recover from the widespread tech disruption, executives are asking what effective fix-it plans might look like during future events.

Nonbanks that rely on sponsor banks to underpin their financial services may assume that "going direct" is safer after the Synapse bankruptcy. But banking-as-a-service middleware has its merits.

The Swedish institution is adding savings accounts to its signature buy now/pay later service as it plots an IPO. Analysts say it will be a struggle to go against U.S. institutions.