The future of AI in banking is not as clear as you might think
Even the leaders of the largest banks in the country can’t agree on the impact artificial intelligence will have on the industry. But there are some steps everyone can take to ease the transition.
Wearable payments get a boost from new market entrants
The market for payments via smartwatches, glasses, rings and wristbands is poised for swift growth in the coming years.
Credit issues put damper on profits at SBA specialist Newtek
The nation’s number-one Small Business Administration lender by number of loans doubled its loan-loss provision in the third quarter, and problem loans spiked. CEO Barry Sloane tabbed inflation and high interest rates as culprits.
Wells Fargo raises hurdle for higher advisor payouts for first time in 5 years
Wells Fargo Advisors Head Sol Gindi says advisors on average will have to increase their revenue generation by about 2% annually to make up for the change.
Mastercard touts the importance of agentic tokens
CEO Michael Miebach said during the company’s third-quarter earnings call that one-time virtual cards as a go-between were not a long-term solution to facilitate agentic payments.
Ex-Treasury Sec. Paulson urges US to tame national debt
Henry Paulson, who helped steer the country through the global financial crisis, says the nation’s ballooning deficits threaten to cause another disaster.
When should RIAs hand clients to next-generation advisors?
With more than 72% of rookie advisors leaving the profession, firms need to train junior advisors well. Here’s how they do it.
Happen Bank ties 26% credit growth to home improvement loans
The lender-turned-bank is protecting itself against rising interest rates with extra hedging investments and anticipating external AI agent activity.
Freddie Mac’s loan acquisitions top Fannie’s as rates rise
Freddie has a smaller outstanding portfolio than Fannie but it has been more competitive when it comes to the dollar volume of single-family mortgages it buys.
Amex recruits its next chief risk officer from US Bancorp
Jodi Richard, who has been U.S. Bancorp’s risk chief since 2018, will oversee American Express’ global risk organization. The hire comes as Amex deals with anti-money-laundering compliance penalties.