The anatomy of a ransomware attack
Inside one community bank’s cybersecurity nightmare scenario.
Browsing: Technology
Customer satisfaction grows with online banks
Customer satisfaction with online-only banks is growing, although the number of new customers opening direct bank accounts has so far declined this year, according to a new survey by JD Power.
Poll: Americans largely positive about digital banking options
Americans are slightly more likely to trust physical banks over digital banks, although they have largely embraced virtual banking options, according to a new survey by research firm UserTesting.
Report outlines policy strategies to support digitalization for mission-based banks
To help support minority depository institutions and community development financial institutions advance in digital transformation, policymakers and regulators must address bottlenecks that limit growth, according to a recent report by National Bankers Association Foundation.
Understanding (and using) ChatGPT in banking
Even with all the promise of ChatGPT, and similar conversational AI technologies, humans should be part of the loop and review the outputs that are produced.
Podcast: Counting down to the FedNow launch
After years of being “FedSoon,” the Federal Reserve’s instant payment network FedNow is preparing to go live this summer. What do banks need to know in the final months before launch?
Federal agencies issue joint statement on AI-based discrimination
While AI and automated systems can be useful, they have the potential to produce outcomes that result in illegal discrimination, representatives from four federal agencies said in a joint statement.
Fed’s Waller: AI and tokenization offer both risks and rewards
Both tokenization and artificial intelligence technology hold considerable promise for the banking industry, but they also come with risks, Federal Reserve Governor Christopher Waller said.
OCC’s Hsu sees potential benefits, drawbacks in open banking
Open banking promises to give consumers more control over their financial data than ever before, but with that control comes heightened liquidity risk for banks and the potential for prejudiced results, Acting Comptroller of the Currency Michael Hsu said.
Cybersecurity: What threat-ready really means for banks
The necessity for continuous risk assessment triggers the need for appropriate resources to meet the demands of new and emerging threats.