Technology
Executives at Capital One, U.S. Bank, BMO and Atlantic Union Bank are striving for seamless onboarding and more efficient branch bankers, among other projects on their technology drawing boards.
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A recent effort by Citigroup to nudge certain customers toward digital-only statements was well intended but too punitive, observers say. The key, they argue, for banks seeking to cut costs or achieve other goals is to offer incentives to those with ingrained habits.
November 13 -
The Wyoming bank has launched its signature service, amid a legal tug-of-war with the Federal Reserve.
November 10
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In tests run by Corporate Insight, generative AI-based bots like OpenAI's ChatGPT and Google's Bard generally answer questions better than banks' virtual assistants do.
November 9 -
FTX's implosion made it even harder for crypto-related businesses to work with U.S. banks. With the fraud conviction of the company's founder, regulatory clarity may gradually come.
November 6 -
This week the Small Business Administration followed through with a controversial policy change by granting access to its flagship 7(a) program to three additional nonbank lenders. These new participants vowed to ramp up their small-business lending efforts.
November 3 -
The 16-year-old site struggled to monetize, but experts said personal financial management products should focus on engagement.
November 3 -
Companies such as Visa and Mastercard, as well as banks and retailers, are stepping up their investments in artificial intelligence to reach small businesses and spot new uses.
November 3 -
Intuit is shutting down one of the most popular personal financial management sites of its time — which attracted millions of users despite its counterintuitive approach to accessing consumer data.
November 2 -
President Biden has directed government agencies to develop new rules on protecting privacy and security, preventing intellectual property theft, reducing bias and more in banks' use of artificial intelligence models.
October 31
