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2 months ago | 
bankautomationnews.com | Whitney McDonald |Vaidik Trivedi
By Whitney McDonald, Vaidik Trivedi Cloud investment is a priority for financial services leaders in 2025 as they move forward with their roadmaps for AI-driven innovation, business continuity plans, personalized experiences and overall modernization. "For a financial institution, cloud plays a tremendous role as part of their modernization strategy," Dmitri Furman, global head of public cloud at $2.4 trillion [...]
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2 months ago | 
bankautomationnews.com | Whitney McDonald |Madeline Durrett
By Whitney McDonald, Madeline Durrett Tech leaders at FIs are part of an exodus of top leadership across industries since the presidential election in November 2024. In December, 230 chief executives left, according to executive outplacement firm Challenger, Gray & Christmas' Jan. 30 report. "The environment of economic, political and regulatory uncertainty that prevailed in 2024 certainly led to [...]
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2 months ago | 
bankautomationnews.com | Whitney McDonald
The growing deepfake detection market is expected to be a $15.7 billion industry by 2026, according to consultancy firm AI voice fraud detection startup Herd Security is one tech provider that banks are channeling to reduce targeted attacks against their organizations and clients, Brandon Min , co-founder and chief executive of Herd Security, tells Bank Automation News on this episode of the "The Buzz" podcast.
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2 months ago | 
bankautomationnews.com | Whitney McDonald
By Whitney McDonald Bank outages, like the one at London-based Barclays last week, are a growing threat as more banks see downtime due to vendor disruption, legacy system failure and lack of operational resiliency. In fact, 53% of financial services companies report experiencing service disruptions at least weekly, according to The State of Resilience 2025 report conducted [...]
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2 months ago | 
bankautomationnews.com | Whitney McDonald
By Whitney McDonald Mastercard's deployment of generative AI to fight fraud in 2024 has reduced false positives and enhanced fraud detection. The payments giant added generative AI to its Decision Intelligence solution, a real-time decisioning tool, in February 2024, according to Mastercard. The tool processes 143 billion transactions annually and uses generative AI to scan 1 trillion [...]
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2 months ago | 
bankautomationnews.com | Whitney McDonald
By Whitney McDonald As financial institutions increasingly look to invest in digital capabilities to meet their business clients' needs, knowing where to automate can be a challenge. Tech leaders from Landmark Credit Union and Mountain America Credit Union's digital priorities within their business banking operations include: Modernizing processes; Leveraging data analytics; Reducing and preventing fraud; Building [...]
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2 months ago | 
bankautomationnews.com | Whitney McDonald
By Whitney McDonald Electronic money services provider Wise is being ordered by the Consumer Financial Protection Bureau to pay $2.025 million in a civil money penalty for allegedly misleading U.S. clients about fees. The CFPB found that Wise sent false advertisements regarding ATM fees and free withdrawals, according to today's release from the bureau. "By deceiving customers, Wise [...]
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2 months ago | 
bankautomationnews.com | Whitney McDonald
By Whitney McDonald Business clients are demanding instant payment services from their financial services providers as they look to streamline payment processes. As instant payments volume grows on The Clearing House's Real Time Payments (RTP) network and the Federal Reserve's FedNow rail, businesses expect their banks to provide both send and receive capabilities on the payments rails, according [...]
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2 months ago | 
bankautomationnews.com | Madeline Durrett |Whitney McDonald
By Madeline Durrett, Whitney McDonald AI-driven cloud platform Derivative Path has tapped Wells Fargo's foreign exchange payment APIs to provide real-time FX rates for its regional and community bank clients. "The need for a new FX solution has grown significantly due to the increasing globalization affecting even the smallest businesses," Derivative Path Chief Executive Pradeep Bhatia told Bank Automation News. [...]
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2 months ago | 
bankautomationnews.com | Vaidik Trivedi |Whitney McDonald
By Vaidik Trivedi, Whitney McDonald Santander UK's William Vereker announced Jan. 28 he is stepping down from his role as board chair of Santander UK Group Holdings and Santander UK. Vereker, who joined the board in October 2020, plans to officially depart the company this year following the appointment of a replacement and a transition period, according to the bank's [...]
