Citi attributes 100K hours of savings to gen AI deployment
Citigroup is starting to realize returns on its investments in generative AI and tech modernization. The $1.7 trillion bank reported that its gen...
Oracle studies scammers, embeds AI into AML to thwart them
Tech company Oracle is developing anti-money laundering tools with gen AI amid climbing fraud and financial crime. Nearly $2 trillion — or roughly...
Klarna, Google Cloud develop AI-powered payments experiences
Global payments provider Klarna is partnering with Google Cloud to use artificial intelligence to enhance its payment services for more than 114 million...
AI’s growth leaves financial regulators struggling to catch up
Regulators are still at an “early stage” in their efforts to track the risks posed to the financial system by the rapid adoption...
European Central Bank taps Feedzai’s AI tools for fraud, AML detection
The European Central Bank is tapping fraud mitigation service provider Feedzai to secure its upcoming payment channel, the digital euro. The Lisbon-based Feedzai’s...
Fifth Third to buy Comerica in the year’s biggest US bank deal
Fifth Third Bancorp agreed to buy Comerica Inc. for about $10.9 billion in stock, the largest US bank deal this year and a...