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To provide personalized customer experiences, TD Bank is developing AI technology, which has resulted in more patents for the company.   “TD has filed more than 450 patent applications in relation to AI [since 2020],” Senior Vice President and Chief Architect Licenia Rojas said on May 15 during TD Tech and Innovation Day. TD has…

Ever since Trov, the real-time insurance firm, appeared on the scene, I’ve been wondering what else could real-time finance do. If you are not aware, Trōv allows you to insure a smartphone or laptop or anything else you value for hours, even minutes. The company no longer exists – it was acquired by Travelers Insurance……

Most financial institutions are not ready for open banking, but the tedious task of prepping bank platforms can be streamlined with AI.   Three-quarters of banks are not operationally ready for open banking, according to the 2024 Digital Banking Experience Report released May 16 by Sopra Banking’s IT services provider, Sopra Steria. Along with Forrester,…

Small business clients looking to make data-driven business decisions within their operations don’t always know how to tap into their data, but JPMorgan Chase has created a solution to deliver these insights.  “Eighty-two percent of small businesses tell us that they want to use data, and they’re likely to use data in their business decision-making…

This week’s main blog discussions include … What would Taylor Swift’s bank look like? Trust and money and day-to-day life go hand-in-hand. It’s all about who you deal with, how and the outcomes. Recently, I’ve lost trust with Apple, my bank, my friend and my brother. That’s pretty sad, isn’t it? But who do I……

Things we’re reading today include … More than 6,000 UK bank branches now gone in nine years of ‘disastrous’ closures | The Guardian Brutal bank closures leave millions stranded in banking deserts – Mirror Online DWP says bank account monitoring test found 60,000 benefit claimants were breaching rules (gbnews.com) Russian court seizes assets of Deutsche……

I’ve been thinking about the dangers of AI a lot lately, especially how deep fake scams could convince people to invest in markets endorsed by fake celebrities. So, when discussing this, a member of the audience asked me if the regulators are prepared for this wave of disruption and I said ‘no’. Regulators can only……

JPMorgan Chase & Co. is immersing every new banking employee in artificial-intelligence training, preparing them for a technology Chief Executive Officer Jamie Dimon has likened to the impact of the printing press and steam engine. “This year, everyone coming in here will have prompt engineering training to get them ready for the AI of the future,” Mary…

The Securities Exchange Commission is setting stricter guidelines on how financial institutions deal with data breaches as cyberattacks climb.  The SEC proposed amendments to its “Privacy of Consumer Financial Information and Safeguarding Customer Information” regulation, implemented in 2000, according to a May 15 fact sheet from the commission. The federal watchdog is looking to implement…