Big tech raises AI CapEx guidance, investors wary
The world's largest cloud providers used their latest quarterly reports to tell Wall Street the same thing: AI infrastructure spending...
Fintech funding remains robust, sovereign wealth funds pull back
Despite economic uncertainty and low liquidity in certain sectors of the economy, fintech funding has been relatively robust as several AI providers secured money this month. ...
AI CapEx lays groundwork for future growth, Fed chair says
The Federal Reserve’s benchmark interest rate held steady on July 29 in a 9-3 vote, as new Chairman Kevin Warsh pointed to surging AI-driven capital investment as a defining feature of the economic...
ING closes mortgages in 30 minutes with agentic tool in select markets
ING Bank is streamlining lending processes and client communication with agentic AI. The Netherlands-based bank rolled out an agentic mortgages tool in the second quarter that helps consumers apply for a mortgage and submit documents while the bank...
SoFi’s gen AI-driven financial guide logs 500k chats since launch
Digital bank SoFi is launching a host of new products focused on lending, money management and investing. In the second quarter, the company launched SoFi Coach, a gen AI-driven smart financial guide tool that helps customers better understand their financial standing...
Happen Bank attributes loan volume growth, call center staffing declines to AI
More than 90% of all issued loans processed at Happen Bank in the second quarter did not involve a person. That record was driven by AI and machine learning optimizations across the digital bank’s origination...
Extend making AI take ‘night shift’
Extend, the virtual card and spend management platform, has put AI to work around the clock — especially the hours when...
Inside CSI’s AI strategy to manage rising token costs
Banking technology provider CSI has developed a three-tiered AI deployment framework designed to maximize productivity gains while managing runaway token costs. The Paducah, KY-based company is...
Client AI CapEx eating into IBM’s software business
IBM’s software business is taking a hit as its clients focus their spending on AI infrastructure development over software. The company reported second-quarter revenue of $17.16 billion,...
Santander reports AI business growth of $96M
Banco Santander said targeted deployment of AI across its operations has created €84 million ($96 million) in business value in the first half of the year. “Our network businesses...
