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Machine Learning FinTech Financial Institutions

Benesch

AI Reporter - May 2025

Benesch on

The use of AI in banking was a topic in April, as Bank of America revealed it will spend $4 billion on AI initiatives in the coming year. The bank cited AI’s usefulness in reducing IT support calls and the over 90% usage...more

Orrick, Herrington & Sutcliffe LLP

Fed’s Barr discusses generative AI’s potential impact on financial stability

On February 18, Fed Vice Chair for Supervision, Michael S. Barr, delivered prepared remarks at the a conference, discussing the rapid advancements in AI and its potential impact on the economy and financial stability. Barr...more

MoFo Tech

AI Trends for 2025 - AI and Financial Services: Balancing Innovation with Regulatory Compliance

MoFo Tech on

As the adoption of artificial intelligence (AI) continues to expand, the financial services industry is leveraging this technology in many ways. AI’s application in credit decision making has become increasingly prominent,...more

A&O Shearman

UK Treasury Committee publishes call for evidence on AI in financial services

A&O Shearman on

The UK Treasury Committee has published a call for evidence on AI in financial services, in light of growing use of the technology across the sector including in retail banking, investment banking, insurance and pensions...more

Carlton Fields

2 Across: Changing Financial Product Recommendations

Carlton Fields on

Artificial intelligence (AI) can and is already changing how firms and registered representatives recommend financial products to customers. AI has the potential to enhance recommendations that registered representatives...more

Troutman Pepper Locke

CFPB Highlights Fair Lending Risks in Advanced Credit Scoring Models

Troutman Pepper Locke on

Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) released its latest Supervisory Highlights report, focusing on the use of advanced technologies in credit scoring models. ...more

A&O Shearman

Bank of England and UK Financial Conduct Authority Findings on Third Survey of Artificial Intelligence and Machine Learning in UK...

A&O Shearman on

The Bank of England published the findings of its third joint survey with the U.K. Financial Conduct Authority on the use of Artificial Intelligence and machine learning in financial services. The survey aims to build on...more

Troutman Pepper Locke

Exploring AI's Potential in Financial Services With John Sun of SpringLabs — The Consumer Finance Podcast

Troutman Pepper Locke on

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Partner Mark Furletti, and special guest John Sun, CEO and co-founder of SpringLabs. The discussion delves into the transformative...more

BakerHostetler

CFTC Sharpens Focus on Artificial Intelligence with Appointment of Chief Artificial Intelligence Officer

BakerHostetler on

In October 2023, the Biden Administration released an Executive Order on governing the development and use of AI in a safe and responsible manner, while working with federal agencies to regulate and disperse the benefits of...more

WilmerHale

CFTC Issues Request for Comment on Uses of AI

WilmerHale on

On January 25, 2024, the Commodity Futures Trading Commission’s (CFTC) Staff issued a request for comment (RFC) on the current and potential uses and risks of artificial intelligence (AI) in the markets that the CFTC...more

Wilson Sonsini Goodrich & Rosati

Fintech in Brief: Trends to Watch in 2024

Where will the fintech industry head in 2024? Our fintech and financial services partners make a few predictions below....more

Ballard Spahr LLP

OCC Risk Perspective Report Focuses on Third-Party Relationships with Fintechs

Ballard Spahr LLP on

In its Fall 2023 Semiannual Risk Perspective, published on December 7, the Office of the Comptroller of the Currency (“OCC”) reported on key issues facing the federal banking system. In evaluating the overall soundness of...more

Troutman Pepper Locke

The Uses and Risks of AI in BSA/AML Compliance: Navigating the Future of Financial Crime Prevention

Troutman Pepper Locke on

In the realm of financial crime prevention, the adoption of generative artificial intelligence (AI) technologies has the potential to revolutionize Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance. AI offers...more

Goodwin

Generative AI and Financial Services: A Recent View From the UK Regulator

Goodwin on

In a recent speech, Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), set out the FCA’s latest views on the role of artificial intelligence (AI) in financial services. The speech highlights many benefits but also...more

Hogan Lovells

AI regulation in financial services in the EU and the UK: Governance and risk-management

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Artificial intelligence (AI) and machine learning (ML) technology have started to transform financial services and bring about new business opportunities, but with risks. AI governance should be adopted by financial...more

Morgan Lewis

How AI is Advancing the Securities and Commodities Industry

Morgan Lewis on

Artificial intelligence (AI) is transforming the global financial services industry, including by helping financial institutions offer innovative new products, increase revenue through efficiencies, and improve customer...more

Hogan Lovells

The role of AI in the new UK Consumer Duty

Hogan Lovells on

This article is the second in a series on areas impacted by AI. It focuses on the upcoming implementation of a new Consumer Duty, a higher standard of behaviour for financial services firms directly or indirectly interacting...more

Lowenstein Sandler LLP

AI in Credit Decision-Making Is Promising, but Beware of Hidden Biases, Fed Warns

Lowenstein Sandler LLP on

As financial services firms increasingly turn to artificial intelligence (AI), banking regulators warn that despite their astonishing capabilities, these tools must be relied upon with caution. Last week, the Board of...more

K2 Integrity

[Webinar] Fighting Financial Crime Effectively through Federated Machine Learning - November 18th, 11:00 am - 12:00 pm EST

K2 Integrity on

Over 95% of Anti Money Laundering (AML) alerts are false positives. Despite this, today’s under-staffed and under-resourced institutions continue to use outdated, reactive, and expensive systems for AML monitoring. This...more

Goodwin

Fintech 2020: A Global Survey on the State of Financial Technology

Goodwin on

Letter from Our Co-Chairs - As the digital transformation of financial markets accelerates at breakneck speeds, fintech presents significant opportunities and challenges for both investors and innovators around the world. ...more

A&O Shearman

UK Regulators Take Steps to Establish Financial Services AI Public Private Forum

A&O Shearman on

The Bank of England and the U.K. Financial Conduct Authority are establishing the Financial Services AI Public Private Forum that Governor Mark Carney announced in June 2019. The regulators are calling for expressions of...more

A&O Shearman

European Banking Authority Publishes Report on Big Data and Advanced Analytics

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The European Banking Authority has published a report on big data and advanced analytics in the banking sector. The report sets out the findings of the EBA's review of big data and analytics and presents key pillars and...more

White & Case LLP

Financial Institutions M&A: Sector trends - June 2019: Stampede of the unicorns

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Financial institutions M&A sector trends: fintech — H1 2019 and outlook for H2 2019 - H1 2019 has seen European fintech M&A hit new heights. Fintechs have enjoyed funding support from established financial institutions,...more

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