J.P. Morgan Payments not worried about escalating token cost, exec says
J.P. Morgan Payments is not sweating runaway AI token costs as the firm continues scaling AI usage internally and externally. As financial institutions grapple...
Nvidia launches AI-driven fraud detection tool
Financial institutions are abandoning fragmented AI architectures in favor of unified transaction foundation models, and early results suggest the shift...
JPMorgan’s AI robot boasts 99% accuracy in check, document processing
Checks might seem antiquated, but they still move trillions of dollars annually, which is why JPMorgan says it is betting that robots can handle the mountain of...
Inside look: AWS’ agentic payments tool for developers
Financial services providers are early adopters of Amazon Web Services’ Amazon Bedrock AgentCore, an agentic AI payments tool that streamlines processes for developers by independently making payments. National Australian Bank and data analytics firm LexisNexis are...
RBC’s token usage jumps 500% in a year
Royal Bank of Canada is deploying AI throughout its operations to drive productivity and to strengthen its position moving forward, both of which are increasing its token usage. With increasing use of AI, the bank reported its AI token usage increased by 500% in its fiscal second quarter, ended...
Wells hires former Google AI leader as head of AI for WIM
Wells Fargo's Wealth & Investment Management business has hired former Google AI leader Andre Mansour to lead its AI initiatives. “I’ll be focused on shaping our AI roadmap,...
AI-powered offers help BMO drive $61.5M in annualized revenue
BMO Financial Group put AI at the center of its second fiscal quarter story, disclosing revenue and productivity gains as the bank pushes AI deeper...
TD’s agentic AI tool doubles same-day mortgage approval rates
TD is using agentic AI for labor-intensive mortgage lending tasks including information synthesis and same-day mortgage approval. TD’s agentic AI tool, built by the bank’s in-house AI...
National Funding using AI to calm anxiety among SMB borrowers
Online lender National Funding is using AI to ease borrower anxiety and meet small-business customers on their own terms. As economic uncertainty weighs on businesses, the company is...
Plaid’s AI-driven LendScore can reduce lending risk by up to 41%
Financial data aggregator Plaid created LendScore, its AI-driven credit risk tool, to provide an alternative to the slim view lenders get from traditional credit files. AI-driven LendScore is built on cash flow and behavioral data drawn from more than 1 million financial transactions each day...
