Banks have started to utilize new technology like AI as a tool to help build efficiency into their processes; one issue that has arisen is regulators questioning whether or not the bank is missing suspicious activity when using new technology; Cathy Bessant, chief operations and technology officer at Bank of America, thinks if the technology is better explained to regulators it could help solve this issue; AI driven providers like ThetaRay, ZestFinance, Merlon Intelligence, QuantVerse and Attivio all have products that can help bring down time spent on malicious activity and better identify issues. Source.
Sharon Miller, head of Bank of America’s small business banking, sat with TearSheet to talk about hiring, technology and what’s...
The discussion at American Banker’s annual Digital Banking Conference in Austin last week revolved around new technologies like AI and...
PeerIQ released their Q4 2018 Lending Earnings Insights Report which points to a number of themes showing the economy is strong...
Get ready for MEMX, or Members Exchange, as a group of nine retail broker-dealers, banks, and financial services firms plan...
Bank of America’s digital investment product, Merrill Edge, has seen their assets under management grow with the help of branches to serve clients; Merrill Lynch has plans to add 600 new investment centers within Bank of America branches to help with this strategy; the combination of using technology and human advice for high net worth clients is a growing trend among bigger banks as they compete with new robo entrants. Source.
At their NYC Technology Summit Bank of American executives talked about how the firm is implementing artificial intelligence; some of...
Artificial intelligence (AI) is everywhere these days as more companies look to automate repetitive tasks to save money and reallocate...
According to a recent Wall Street Journal report, costs associated with rewards credit cards increased an average of 15 percent during the...
Back in June of 2018 Bank of America set an ambitious goal for digital sales as Dean Athanasia, president of consumer...