The Consumer Financial Protection Bureau wants to spur innovation in the use of artificial intelligence and machine learning in financial services, CFPB Director Kathleen Kraninger said today.
Browsing: Artificial intelligence and machine learning
With AI, banks of any size can deliver curated customer experiences.
The FDIC is in the process of developing guidance for financial institutions on artificial intelligence…
Former Comptroller of the Currency Eugene Ludwig talks about the current state of artificial intelligence in banking and the outlook for community banks and compliance professionals.
How digital voice technology helps banks large and small improve efficiency, reduce fraud and enhance the customer experience.
Today banks have the capacity to recreate the lifetime relationships that used to be the norm in banking. And if they want customers to stick around—even when they get offered a slightly better interest rate somewhere else—most banks need to put a heavier focus on communications. They must continually demonstrate to customers that they have offerings to meet their present and future financial needs, no matter what life stage they’re in.
Banks that decide to implement AI or machine learning capabilities must consider not just how to approach the system upgrade itself, but also how to communicate the new controls to regulators.
ABA yesterday urged the Consumer Financial Protection Bureau to use its authority to update outdated disclosure rules to meet the needs of consumers and facilitate seamless digital payment experiences.
Regulatory guidance wants models that can be challenged. But when artificial intelligence turns a model into a black box, how can bankers manage model risk?
The chairman and CTO of a small, century-old community bank shares the how’s and why’s of bringing machine learning, AI and APIs to banks of every type.