Canadian earnings roundup: Banks invest in digital banking, AI

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Canadian earnings roundup: Banks invest in digital banking, AI Canadian earnings roundup: Banks invest in digital banking, AI

Canadian banks are continuing to invest in AI for improved client experiences and efficiencies. ..
The Markets Cheer Trump’s Treasury Pick, Scott Bessent The Markets Cheer Trump’s Treasury Pick, Scott Bessent

Investors seemed to signal their approval for Scott Bessent as a safe choice to implement the..
Archegos Founder Bill Hwang Is Sentenced to 18 Years Archegos Founder Bill Hwang Is Sentenced to 18 Years

Mr. Hwang was convicted in July for his role in the collapse of his investment firm that caused..
75% of FIs increased tech spend this year 75% of FIs increased tech spend this year

Banks and credit unions prioritized digital integration in 2024, with 75% saying they increased..
How Trump’s Plans for Immigration, Tariffs and the Fed Could Affect the Economy How Trump’s Plans for Immigration, Tariffs and the Fed Could Affect the Economy

Economists are trying to guess at how Trump policies could affect growth and inflation. The..
Santander Commercial Bank to build on 2024 innovations Santander Commercial Bank to build on 2024 innovations

Santander Bank plans to build on its 2024 innovation efforts in 2025 following the launch of five..
Skyla Federal Credit Union speeds up digital onboarding by 70% Skyla Federal Credit Union speeds up digital onboarding by 70%

Skyla Federal Credit Union switched consumer loan operating systems in July to meet growing demand..
BNY, Citizens, Truist train employees on AI BNY, Citizens, Truist train employees on AI

Financial institutions and tech providers are teaming up to develop training programs to help bank..
Former Truist CIO Scott Case joins Prudential Financial Former Truist CIO Scott Case joins Prudential Financial

Scott Case, former Truist Financial chief information officer, started in his new role as executive ..
China Reveals $1.4 Trillion Plan to Bail Out Local Governments China Reveals $1.4 Trillion Plan to Bail Out Local Governments

The massive support package came after a series of smaller measures in recent weeks were announced..
Trump’s 2nd-Term Agenda Could Transform Government and Foreign Affairs Trump’s 2nd-Term Agenda Could Transform Government and Foreign Affairs

The president-elect could reshape government and may dramatically transform foreign and domestic..
Truist developing intelligent router for efficient payments Truist developing intelligent router for efficient payments

Truist Financial is developing an intelligent router system that can direct payments quickly..
As Election Nears, Foreign Leaders Fear ‘a Vacuum’ in American Leadership As Election Nears, Foreign Leaders Fear ‘a Vacuum’ in American Leadership

President Biden hosted his final pre-election international visitor in the Oval Office, where the..
SEC chair warns of ‘AI washing’ SEC chair warns of ‘AI washing’

LAS VEGAS — Securities and Exchange Commission Chair Gary Gensler is warning companies against “AI..
Read a letter from Sam Bankman-Fried’s father. Read a letter from Sam Bankman-Fried’s father.

Over the past nine months, the parents of Mr. Bankman-Fried, Ms. Ellison and Mr. Singh have written ..
Apple and Goldman Sachs Must Pay Nearly $90 Million Over Apple Card Inquiry Apple and Goldman Sachs Must Pay Nearly $90 Million Over Apple Card Inquiry

The penalties and customer refunds stem from an investigation by the Consumer Financial Protection..
MSUFCU’s Ashbrook to join speaker faculty at Bank Automation Summit U.S. 2025 MSUFCU’s Ashbrook to join speaker faculty at Bank Automation Summit U.S. 2025

Ashleigh Ashbrook, vice president of digital service experience at Michigan State University..
US banks prepare for new era of consumer financial data sharing US banks prepare for new era of consumer financial data sharing

US banks will now have to give customers access to their financial data after the top consumer..
Armed Forces Bank boosts fraud prevention in 2024 Armed Forces Bank boosts fraud prevention in 2024

Dickinson Financial Corp., the holding company for $1.3 billion Armed Forces Bank, implemented an..
Commonwealth automates majority of underwriting with AI Commonwealth automates majority of underwriting with AI

Commonwealth Credit Union is using Zest AI’s underwriting solution to speed up customer service and ..
Wells Fargo opens innovation hub in California Wells Fargo opens innovation hub in California

Wells Fargo’s Innovation Center in Menlo Park, Calif., is hosting meetings with partners and..
Ally focuses on digital experience in face of outflows Ally focuses on digital experience in face of outflows

Ally Financial expects deposits to flow out as interest rates go down, but it is looking to digital ..
Morgan Stanley gen AI exec Picariello to be fireside speaker at Bank Automation Summit U.S. 2025 Morgan Stanley gen AI exec Picariello to be fireside speaker at Bank Automation Summit U.S. 2025

Bank Automation News is pleased to announce Koren Picariello, an executive director at Morgan..
U.S. Bank invests in branch modernization in Q3 U.S. Bank invests in branch modernization in Q3

U.S. Bank increased its technology spend in the third quarter to further digitalize capabilities..
Transactions: PayNearMe, PayPal expand integration Transactions: PayNearMe, PayPal expand integration

Payments platform PayNearMe announced Oct. 3 that it will integrate PayPal’s full-stack processing..
Talks Between European Banks May Kick-Start More Cross-Border Deals Talks Between European Banks May Kick-Start More Cross-Border Deals

Investors are cheering a possible tie-up between UniCredit of Italy and Germany’s Commerzbank, but..
Grasshopper reduces manual reviews with Alloy risk solution Grasshopper reduces manual reviews with Alloy risk solution

Grasshopper Bank has reduced manual reviews in its onboarding process by 57% through fintech..
Bank of England Holds Rates Steady but Signals Gradual Easing Bank of England Holds Rates Steady but Signals Gradual Easing

The British central bank has emphasized its intention to move steadily to ensure that inflation..
After Fierce Lobbying, Regulators Soften Proposed Rules on Banks After Fierce Lobbying, Regulators Soften Proposed Rules on Banks

A top Federal Reserve official said that blowback to proposed rules on capital requirements led him ..
Carl Icahn, Activist Investor, Faces Intense Scrutiny From Wall Street Carl Icahn, Activist Investor, Faces Intense Scrutiny From Wall Street

The value of the 88-year-old activist investor’s company has fallen by nearly $20 billion. Mr...
Stock Slide as Investors Wrestle With Shifting Bets on Rate Cuts Stock Slide as Investors Wrestle With Shifting Bets on Rate Cuts

The stock market “can’t win” at the moment, said Andrew Brenner, head of international fixed income ..
78% of regional FIs say AI can help find new business 78% of regional FIs say AI can help find new business

Regional and community banks are investing in AI for new business opportunities, revenue growth and ..
100% of Amex fraud models tap AI, ML 100% of Amex fraud models tap AI, ML

American Express’ credit and fraud models completely use machine learning and AI.  “In fact, the..
Transactions: Akoya, Nova Credit team up on financial access Transactions: Akoya, Nova Credit team up on financial access

Today, API-connected data access network Akoya teamed up with credit infrastructure and analytics..
Gen AI reduces agent response time by 70% at Discover Gen AI reduces agent response time by 70% at Discover

Discover Financial Services is tapping generative AI to speed up call center agent response and..
How to Avoid Online Scams and What to Do if You Become a Victim How to Avoid Online Scams and What to Do if You Become a Victim

Here are tips on how to dodge some of the most devastating schemes and what to do if you or someone ..
TD cautious about consumer-facing AI TD cautious about consumer-facing AI

TD Bank is taking a conservative approach to AI for consumer-facing operations as it taps the tech..
How to Avoid Another Recession How to Avoid Another Recession

The Fed should preserve its option to pivot as new developments arise.
Transactions: U.S. Bank joins forces with Billtrust for B2B payments Transactions: U.S. Bank joins forces with Billtrust for B2B payments

U.S. Bank is working with payments service provider Billtrust to provide business customers with an ..
Transactions: BNP teams up with Orange for retail financing Transactions: BNP teams up with Orange for retail financing

Paris-based BNP Paribas is working with telecom service provider Orange to provide its 21.8 million ..
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