2+ day, 9+ hour ago   (646+ words) OpenAI, the artificial intelligence company behind ChatGPT, is courting investment banks with a new launch designed to work like a junior Wall Street employee. The company announced in a blog post on Thursday that it has released "a tailored ChatGPT…...

2+ day, 19+ hour ago   (409+ words) AI agents are also beginning to participate directly in payments. Visa's U.S. pilots have executed agent-initiated consumer and B2B purchases, while several European banks including Barclays, BBVA, ING, and Lloyds Banking Group have completed live agent-executed transactions. While banking agents are typically…...

2+ day, 20+ hour ago   (649+ words) A big mistake to avoid when calculating the ROI of an AI investment is failing to account for costs created when the system gets things wrong. A useful way to think about the economic impact is: Net AI initiative value…...

3+ day, 21+ hour ago   (789+ words) Overview bullets generated by AI with editorial review. Microsoft released a setting last year that blocks external emails that disguise themselves as internal. Researchers showed last week that a small workaround gets threat actors past it. The setting, Reject Direct…...

4+ day, 12+ hour ago   (814+ words) Like any AI model, a generative AI model is only as good as the data it's fed. But how do you know you have good data?Some bank technologists are answering this question with the concept of a "nutrition label....

4+ day, 17+ hour ago   (535+ words) A seemingly impossible security problem to get around in today's world is the fact of centralization. The world is so large and so complex that it is impossible to expect every bank in the country to develop its own security…...

1+ week, 1+ day ago   (1360+ words) Overview bullets generated by AI with editorial review. An illicit website reportedly spent this week selling driver's license scans, including the infrared and ultraviolet images banks use to catch fake IDs, before it went offline. The service, called Nexus, claimed…...

1+ week, 1+ day ago   (936+ words) Building from the ground up has its appeal, but for one Georgia-based investment group, the prospect of growing and reaching profitability years ahead of schedule proved more enticing. The investors behind the proposed Georgia Skyline Bank still aim to exploit…...

1+ week, 1+ day ago   (751+ words) Walmart's quest to be a financial services provider is accelerating as an affiliate fintech expands its reach into auto finance. OnePay this week launched My Garage, enabling a variety of auto-related payments and access to financial information through a single…...

1+ week, 3+ day ago   (492+ words) As financial institutions increase their use of artificial intelligence, the risk that results when AI models go astray will also increase. New American Banker research suggests credit unions do not give this risk the same weight as other financial firms....