Busting AI myths with the ETA’s Jodie Kelley
There are a lot of misconceptions about how the payments industry uses generative AI. Jodie Kelley, chief executive of the Electronic Transactions Association, separates the reality from fiction.
Morgan Stanley drops on report of U.S. probes into wealth unit
The SEC and the Treasury’s Financial Crimes Enforcement Network have sought information on certain clients outside the U.S. who’ve raised red flags and the bank’s policies to address it.
How companies are working with payments now, with KeyBank’s Yaminah Sattarian
Businesses are using a range of payments technologies, new and old, as the instant-payments movement gathers steam. Most Influential Women in Payments honoree Yaminah Sattarian talks about what her clients want and how the payments world is changing, in conversation with American Banker Editor-in-Chief Chana Schoenberger.
Potential CFPB arbitration rule would violate CRA, GOP lawmakers say
Rep. Andy Barr, R-Ky., and Sen. Thom Tillis, R-N.C., told the Consumer Financial Protection Bureau that pursuing a rulemaking on forced arbitration, as laid out by consumer advocates’ rulemaking petition, would be an “affront to Congress.”
Fed’s instant payments network gains momentum among community lenders
Launched last July, FedNow had enrolled more than 600 participants by mid-March, according to government officials. That marked a 100% increase from the start of the year, with more banks and credit unions viewing fast payments capabilities as essential. Fraud concerns linger, however.
‘Quote mode’ chatbots, core code rewrites among banks’ gen AI uses
From internal operations to conversational interfaces for clients, bank executives are bullish on the potential for efficiency gains.
Inflation news could keep Fed to one rate cut this year
Mortgage rates rose this week as investors priced stronger than expected inflation and jobs affecting Fed moves into the 10-year Treasury.
Treasury should enhance Fincen’s company ownership database
The collection of beneficial ownership data is vital to fighting money laundering. It should be more broadly accessible, and should cover more businesses.
Unions are not a threat to the banking sector; they’re an opportunity
Instead of painting unionization as a barrier to business success, we should consider it an opportunity to rebuild trust, integrity and responsibility within the banking sector.
How can banks and fintechs get employees’ buy-in on generative AI?
To protect their own talent pipeline, financial companies need to make sure that they’re not only protecting the entry-level roles that AI threatens to take over, but getting the enthusiastic buy-in of the people most likely to be affected, according to experts from Fiserv, Segpay and Featurespace.