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?
Browsing: Artificial intelligence / machine learning
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.
The banking agencies, along with the Financial Crimes Enforcement Network, today issued a statement encouraging banks to consider, study and — where appropriate — implement innovative approaches to anti-money laundering and Bank Secrecy Act compliance.
As the financial industry continues to find new uses for artificial intelligence capabilities, Federal Reserve Governor Lael Brainard outlined regulators’ approach to the supervision of these new technologies in a speech today
Synthetic identity theft is a fast-emerging vector of financial fraud, reaching $8 billion and accounting for the majority of fraud on payment cards, according to expert estimates.
The average cost of a data breach globally — including a number of breach-related factors such as investigations and recovery, notifications and cost of lost business — was $3.86 million in 2018, according to a new study from Ponemon Institute and IBM Security.
As the leader of a 32-person R&D team helping U.S. Bank’s business lines implement new technology and scout out the most promising financial innovations, Dominic Venturo is on the front lines of fintech innovation in the banking world. On the latest episode of the ABA Banking Journal Podcast, Venturo talks about recent and upcoming innovations that U.S. Bank is rolling out.