Banks rethink vendor outsourcing amid rapid AI advancement
AI tokens cost Grasshopper Bank less than $100K a year
Smaller banks are increasingly pumping the brakes on third-party vendor contracts as they realize that building AI internally has become much more feasible. For example, Nashville, Tenn.-based Thread Bank’s AI strategy has evolved over the past several months from “basically experimenting with AI to actually engineering with it and around it,” Marty Miracle, chief digital officer and chief risk officer at the $1 billion bank, told FinAi […]
