RBC adds gen AI to ‘fraud-fighting toolbox’
Royal Bank of Canada is developing tools by combining new and old tech to fight scams powered by gen AI. The bank is blending AI and gen...
TD’s AI virtual assistant leads to 12% drop in call center volume
Gen AI delivers quantifiable returns for TD Bank, and it is planning to deploy the tech more widely. One of Toronto-based TD’s first gen AI use cases...
TD Bank says AI-driven platform boosts customer need identification by up to 30%
TD Bank has deployed AI-driven platform TD AI Prism to predict consumer needs and provide them with solutions proactively. The $1.2 trillion bank’s...
RBC to generate up to $1B in enterprise value through AI
Royal Bank of Canada is seeing increased efficiency and output through continued investment and deployment of AI. The $1.1 trillion bank launched RBC Assist for 30,000...
Valley Bank exec: Calculating ROI easier for traditional AI
Financial institutions that are deploying gen AI are seeing efficiencies, but quantifying ROI is difficult. Returns from traditional machine learning are more quantifiable than returns from generative AI, Valley Bank Chief Data and...
Citizens’ CiZi assistant logs 85% YoY growth
Citizens Bank is seeing increasing adoption and efficiency from gen AI-driven chatbots. The $222 billion bank launched CiZi, a gen AI-driven chatbot for consumers, in November 2024, and has seen an 85% year-over-year increase in use, Lamont Young, head of digital and omnichannel...
Featurespace develops gen AI-driven fraud-fighting tech
Financial institutions are clamping down on fraud by deploying AI tech ahead of holiday season. Digital payments and check payments are both under threat as gen AI has given fraudsters...
MidSouth Community FCU sees fraud loss ratio drop 51% with Casap’s AI tech
MidSouth Community Federal Credit Union has tapped AI-driven dispute-management provider Casap to enhance its operational efficiency and weed out fraudulent claims. ...
Valley Bank to roll out AI-driven commercial client servicing
Valley Bank is deploying gen AI tools throughout the organization with a focus on improving its commercial client services and interactions. The $62 billion bank is working on a gen AI commercial client servicing platform that its employees...
Cloudflare outages spur concern among banks about AI resiliency
Financial institutions are concerned about the resiliency of their AI operations after core internet service provider Cloudflare suffered its second...
