Seemingly legit businesses are often used to mask illicit operations banking on human trafficking, sometimes leading FIs to unwittingly support the practice. In the latest Digital Banking Tracker, Dr. James Cockayne, head of secretariat for the UN’s Financial Sector Commission on Modern Slavery and Human...
Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and...
Implementing AI might be all the rage, but are banks buying too much into the hype? FIs need to cut through the noise and find use cases which solve their biggest pain points, says David Berglund, SVP and AI leader at U.S. Bank. In the...
Businesses in nearly every industry need to worry about risks, especially when it comes to fraud and security. But those dangers are even more pressing in the banking industry, where bad actors are increasingly attacking financial institutions (FIs) on multiple fronts, and using multiple techniques....
Oh, Canada? A good market to be in for FIs seeking to create digital only banks, if you get the rates right, the timing right and do the fine tuning on the fly. EQ Bank’s CDO, Dan Dickinson tells Karen Webster that low operating costs...
Monzo, the digital bank, announced Monday (Aug. 6) that it is making its bank accounts open to anyone in the U.K. between the ages of 16 and 17. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
Lloyds Banking Group was hit by a computer outage that left customers unable to conduct fund transfers for several hours, according to officials. The outage impacted hundreds of customers of Lloyds and Halifax, which both operate under Lloyds Banking umbrella. Get the Full Story Complete...
FIs' investment in artificial intelligence (AI) and machine learning (ML) is expected to reach $57.6 billion by 2021. In the latest Digital Banking Tracker, PYMNTS tracks the latest developments driving investment in the space. Plus, Moiz Kohari, SVP and chief technology architect at State Street,...
Banks are increasingly turning to AI as they look to gain an edge over their competition. In fact, over 80 percent of banks with more than $150 billion in assets have explored use of technology, and experts predict banks will invest more than $57 billion...
