How COVID-19 Is Accelerating the Demand for Efficiency and Automation in Risk Management
The siloed and slow, often manual, processes of the past are giving way to new efficiencies of automation and cloud-based solutions.
Browsing: Artificial intelligence
Rethink Your Homepage
It turns out that a formerly tried-and-true design feature does not meet the needs of visitors to your bank’s website.
CFPB Updates Rulemaking Agenda
The Consumer Financial Protection Bureau this week announced updates to its rulemaking agenda. Items on the agenda and their associated timelines were submitted to the Office of Management and Budget in early March, prior to the outbreak of the coronavirus and the subsequent economic downturn.
Podcast: OCC’s Brooks Plans to Unveil ‘Payments Charter 1.0’ This Fall
The OCC is planning to unveil what Acting Comptroller Brian Brooks called “payments charter 1.0” as soon as this fall, Brooks said on the latest episode of the ABA Banking Journal Podcast.
OCC Issues Proposals on Bank Activities, Innovation
The OCC today proposed changes to its rules for national bank and federal savings association activities and operations to ensure that they can continue to meet the shifting needs of consumers, businesses and communities.
The Big Brain in the Black Box
AI, machine learning and alternative data are helping banks and nonbanks alike make faster decisions and expand access to credit. While fair lending concerns about “black boxes” have impeded wider adoption of these technologies, the regulatory environment is shifting.
Creating Effective Customer Communications in Times of Uncertainty
During the COVID-19 pandemic, it is even more critical that banks pay careful attention to precise and emotionally calibrated customer communications.
ABA: Banks Need Consistent Framework for Adopting AI Technologies
In a letter to the Office of Management and Budget, the American Bankers Association called for regulatory clarifications that would facilitate the adoption of artificial intelligence technologies by banks.
CFPB Director Highlights Benefits of AI to Expand Credit Access
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.
McWilliams: FDIC Guidance Forthcoming on AI, Machine Learning
The FDIC is in the process of developing guidance for financial institutions on artificial intelligence…