Technology

A panel at CBA Live explored the contract provisions banks need to consider before embarking on new banking-as-a-service relationships and what catches their eyes in consent orders from banking regulators.

The $4.2 billion-asset MCU in New York is working with Ameriprise Financial Institutions Group to connect members with the firm's network of digital advisors and offer investment planning options alongside its traditional products.

Specialized large language models should be harnessed to help financial institutions identify and halt fraudulent activity. The best model would involve regulator-approved pooling of anonymized customer data.

Criminals who buy and sell consumer data on the dark web are perpetrating increasingly complex credit and debit card fraud schemes, according to the card network's latest threats report.

A recent survey showed a majority of banks use generative AI, mainly for tasks like writing emails and detecting fraud, but few say they have built customer-facing products with it.

In a simulation exercise hosted by the Global Resilience Federation on Tuesday, banks and credit unions tested their ability to withstand an industrywide wiperware attack.

Banks are proceeding with caution as a new generation of AI tools arises.

Lack of understanding remains a key hurdle for adopting traditional and generative artificial intelligence-powered tools, but banks and credit unions are still eager to use AI, according to data from Arizent.

False information, job losses, diminishing skills and human interaction, among other concerns, have bankers worried about deploying both generative artificial intelligence, like ChatGPT, and more long-accepted forms of AI like machine learning, according to a new survey of American Banker readers.

As the use of internet of things (IoT) devices and artificial intelligence grow in popularity, their adoption is creating real risks for end users and insurers alike. As bad actors use it to perpetrate new kinds of fraud, carriers can also utilize it to identify these risks and fraudulent claims more quickly.