AI-driven ‘SaaSpocalypse’ fears overblown, experts say
SaaS companies have been on a rollercoaster over the past year as AI has moved from experimentation to execution — forcing investors, operators and customers to rethink...
FactSet’s AI-driven AML tool reduces false positives by up to 80%
Financial data company FactSet is doubling down on AI across its product stack and has launched two AI-driven products this month. The New York-based company, whose clients include First...
OakNorth anticipates doubling origination volume in the US
London-based digital bank OakNorth is betting big on the U.S. OakNorth expects to double its U.S. origination volume this year after originating roughly $3.2 billion in loans since...
UiPath credits agentic AI for speeding mortgage decisioning by 50%
UiPath is using agentic AI to streamline mortgage lending operations by targeting one of the most complex and manual processes in financial services: loan origination and...
Experts: Banks can cut fraud loss reserves by 50% by 2030 with AI
AI can help reduce fraud attempts and save money through better real-time detection, experts say. “If banks are losing less money, then they can also trim down their...
Former U.S. Bank exec joins Wells Fargo’s commercial banking arm
Prageeth Sandakalum has joined Wells Fargo as executive director of product management, a position that sits at the intersection of product, commercial banking and AI. Most recently, he...
Inside Look: Bank of America’s top-down AI training handbook
Bank of America is focused on training its leaders to use AI as it deploys tools to make operations more efficient. The bank appointed Michael Wynn as the head of its academy for...
Data infrastructure key for Bankwell’s AI deployment
Bankwell is investing in its data infrastructure in order to achieve the best returns from its AI deployment. “We are investing in building a robust data infrastructure,” Ryan Hildebrand, executive...
PayPal builds ‘plug-and-play’ agentic AI platform
PayPal is building an agentic AI platform that allows consumers to buy products through a chatbot. The payments company aims to “provide a plug-and-play...
Transaction: Bankwell taps Kobalt Labs for AI-driven compliance management
Bankwell will use fintech Kobalt Labs’ AI-driven solution to improve compliance operations. The $3.2 billion bank had previously implemented AI in functions including SMB lending operations and data analytics, but hadn’t applied it to risk and...
