Why Fifth Third is forgoing in-house AI development

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Why Fifth Third is forgoing in-house AI development Why Fifth Third is forgoing in-house AI development

Technology buzz, both inside and outside the banking industry, is centered on innovation —..
Alliant Credit Union saves customers $500M in 2024 Alliant Credit Union saves customers $500M in 2024

Alliant Credit Union is looking to create value for its customers by offering digital solutions..
Tech roundup: Giants report growing cloud revenue Tech roundup: Giants report growing cloud revenue

Tech giants are reporting growing cloud business as companies around the globe adopt generative AI..
CFPB director favors ‘the end of screen scraping’ CFPB director favors ‘the end of screen scraping’

LAS VEGAS — The Consumer Financial Protection Bureau Director Rohit Chopra hopes the financial..
I’m Out of Work. Can I Take a Job in a Predatory Industry? I’m Out of Work. Can I Take a Job in a Predatory Industry?

The magazine’s Ethicist columnist on what to do when your financial needs conflict with your..
Yellen Rebukes Chinese Lending Practices in Call for Debt Relief Yellen Rebukes Chinese Lending Practices in Call for Debt Relief

In an interview, the Treasury secretary also highlighted progress at the World Bank and the..
Fifth Third’s tech spend jumps 5% YoY Fifth Third’s tech spend jumps 5% YoY

Fifth Third Bank’s overall noninterest expenses increased in the third quarter driven by higher..
Revolut Business, Amex team up for payments acceptance Revolut Business, Amex team up for payments acceptance

London-based Revolut Business is accepting American Express cards to boost revenue.  Revolut..
Want More Inflation? Go Ahead, Let Presidents Meddle With the Fed Want More Inflation? Go Ahead, Let Presidents Meddle With the Fed

When presidents try to influence the central bank, they tend to push for lower interest rates — and ..
Wells Fargo’s tech spend up and headcount down in Q3 Wells Fargo’s tech spend up and headcount down in Q3

Wells Fargo trimmed its staff and total costs in the third quarter, with efficiency in mind.  “We..
TD Bank Pleads Guilty and Pays $3 Billion to Settle Money-Laundering Case TD Bank Pleads Guilty and Pays $3 Billion to Settle Money-Laundering Case

The penalty was the largest ever imposed by U.S. officials on a bank for violating anti-money..
Banks diversify with healthtech investment Banks diversify with healthtech investment

U.S. banks are investing in health care payments technology companies to diversify revenue.  The..
Gen AI to boost customer loyalty, Forrester says Gen AI to boost customer loyalty, Forrester says

Financial services providers are exploring generative AI uses for coding, customer service and..
U.S. Raises New Concerns Over Chinese Lending Practices U.S. Raises New Concerns Over Chinese Lending Practices

A Treasury official will call for greater transparency over emergency currency “swap” loans to..
Fed Chair Powell Underscores That More Rate Cuts Are Coming Fed Chair Powell Underscores That More Rate Cuts Are Coming

Jerome H. Powell, chair of the Federal Reserve, said that inflation is down and unemployment up..
Wells Fargo applies vendor tech across business lines Wells Fargo applies vendor tech across business lines

Wells Fargo looks across all of its business lines when making investment decisions and selecting..
Trump’s Huge Civil Fraud Penalty Draws Skepticism From Appeals Court Trump’s Huge Civil Fraud Penalty Draws Skepticism From Appeals Court

A five-judge New York appellate panel questioned both the size and validity of a judgment of more..
Real-time data drives consumer decisions post rate cut Real-time data drives consumer decisions post rate cut

Financial institutions are looking to real-time, data-driven insights to suggest actions clients..
SMEs ‘one of the biggest winners’ of open banking SMEs ‘one of the biggest winners’ of open banking

Open banking regulation set to finalize this fall will boost small- and medium-sized-enterprise..
Transactions: Citizens Bank, Navan team up for travel expense management Transactions: Citizens Bank, Navan team up for travel expense management

Citizens Bank has teamed up with Navan to provide its commercial customers with travel expense..
Central Banks Around the World Are Cutting Rates Central Banks Around the World Are Cutting Rates

Inflation has fallen in most developed nations, and central bank officials are now trying to steer..
An Interest Rate Cut An Interest Rate Cut

We explore the politics of today’s Fed announcement.
European Central Bank Cuts Rates for Second Time in Three Months European Central Bank Cuts Rates for Second Time in Three Months

The reduction, to 3.5 percent from 3.75 percent, comes as inflation has slowed and the bank faces..
Online Credit Unions Offering High Interest Rates on Savings May Be Fakes Online Credit Unions Offering High Interest Rates on Savings May Be Fakes

Ontario’s financial regulator has issued warnings about three websites illegally claiming to be..
For the Fed, a Sign That the Job Market is Cooling but Not Imploding For the Fed, a Sign That the Job Market is Cooling but Not Imploding

Fed officials have been watching the job market as they move toward a rate cut this month. Friday’s ..
Why It’s So Hard for China to Fix Its Ailing Economy Why It’s So Hard for China to Fix Its Ailing Economy

A real estate collapse has made consumers cautious and businesses wary, as China confronts a crisis ..
50% of Bank of America transactions are contactless, leader says 50% of Bank of America transactions are contactless, leader says

ATLANTA — Contactless transactions saw a boost amid the pandemic and contactless payments are here..
Transactions: BNY, CBA join for cross-border near real-time payments Transactions: BNY, CBA join for cross-border near real-time payments

BNY has joined forces with Commonwealth Bank of Australian to provide its customers with near..
How Wall Street Learned About Last Week’s Labor Data Before the Public How Wall Street Learned About Last Week’s Labor Data Before the Public

The Labor Department provided insight into a recent lapse in which revised payrolls data were given ..
The Crypto Industry Loudly Defends Telegram’s Pavel Durov The Crypto Industry Loudly Defends Telegram’s Pavel Durov

When the messaging app’s founder, Pavel Durov, was arrested, he received a flood of support from a..
TD Bank expects to pay $2.6B for US compliance lapse TD Bank expects to pay $2.6B for US compliance lapse

TD Bank took a provision of $2.6 billion in the third quarter as it estimates the cost of fines..
Beware Politicians’ Newfound Love of Crypto Beware Politicians’ Newfound Love of Crypto

Politicians’ newfound love of crypto probably has more to do with a cynical bid for young voter..
StanChart invests in fintech M&A company, joining Citi, BNP StanChart invests in fintech M&A company, joining Citi, BNP

Standard Chartered Plc will take a stake in United Fintech Group, becoming the fourth large bank..
Global markets show recovery after Monday rout Global markets show recovery after Monday rout

Global markets are calming today after suffering a rout on Monday on the heels of a..
Mastercard Open Banking’s Katharina Luschnik to speak at Bank Automation Summit Europe 2024 Mastercard Open Banking’s Katharina Luschnik to speak at Bank Automation Summit Europe 2024

Katharina Luschnik, vice president for product sales and open banking at Mastercard, will speak at..
The Economy Is Looking Pre-Recessionary The Economy Is Looking Pre-Recessionary

Will a sluggish Fed snatch defeat from the jaws of victory?
Inside Cambridge Savings Bank’s 3-year digital roadmap Inside Cambridge Savings Bank’s 3-year digital roadmap

Cambridge Savings Bank is executing a three-year digital roadmap with automation, client experience ..
How Fed Rates Influence Mortgages, Credit Cards and More How Fed Rates Influence Mortgages, Credit Cards and More

Higher rates benefit those who can save, but for borrowers, falling rates would reduce bills on..
Trump’s Ideas Threaten the Foundation of America’s Economy Trump’s Ideas Threaten the Foundation of America’s Economy

Policy proposals from Donald Trump and his circle threaten the huge advantages the United States..
BNP has identified 780 AI use cases BNP has identified 780 AI use cases

BNP Paribas is investing in AI, cloud infrastructure and cyber security as part of its..
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