Jack Henry is using Google AI to defend 7,400 institutions
Fiserv chose OpenAI. FIS chose Anthropic. Jack Henry just chose Google. The supervisory guidance that would govern any of it excludes agentic AI.
Are rising bankruptcies a concern for banks’ 2Q earnings?
The volume of bankruptcy filings has been climbing, particularly among small businesses. But analysts note that the numbers are still below pre-pandemic levels.
JPMorgan’s AI beat the 60-40 in tests; advisors aren’t worried
In pitting AI agents against historic 60-40 portfolio results, JPMorgan found AI won every time. But researchers could not rule out the possibility that the systems could have essentially cheated.
First Hawaiian strikes $2B deal to return to U.S. mainland
The Honolulu-based company said it plans to acquire TriCo Bancshares in Chico, California, and retain all of the seller’s 68 branches.
Mastercard’s Vocalink rumors and the rise of payment protectionism
The card network may sell a London-based processing subsidiary, reportedly amid government pressure on U.S. payments domination in local markets.
Consumer groups team up to battle EWA lobby
A group of 24 state-focused advocacy groups are banding together to form a national coalition to fight against industry lobbies as a federal EWA law threatens states’ regulatory independence. Opponents of EWA say it resembles payday lending.
The risks of the Workday AI lawsuit for banks
The HR software is used by scores of U.S. banks, including many of the largest ones. The case also raises broader questions about job candidate screening and who is liable when an AI tool causes disparate impact.
How BMO’s chief AI officer is building trust in AI models
Kristin Milchanowski shared some of the ways her team is working toward a return on AI and making models more trustworthy at American Banker’s Digital Banking Conference.
San Francisco to vote on whether to set up public bank
A November ballot measure will ask voters whether to establish the nation’s first municipal public bank. The harder question of how to capitalize such a bank is being left for later.
Fed’s Waller ‘concerned’ about rising inflation
The Federal Reserve governor said the central bank should consider near-term rate hikes if core-measures of inflation continue to climb.