Bank Automation News

Previously known as Bank Innovation, Bank Automation News has been a leader in monitoring the changes in digital banking since 2009. As the future of innovation leans towards automation, we have shifted our coverage to deliver insights that help industry professionals achieve better outcomes. Automation represents a significant advancement in financial services technology. It has the potential to enhance or completely change various banking processes, ranging from customer service to compliance, lending options, and investment strategies. This technology is set to bring about the most significant changes in financial institutions since the digitization of services following the Credit Crisis. Banks that haven’t yet invested in automation need to start focusing on this area to stay competitive. This shift will also require investment in training and educational resources. Bank Automation News is the first and only source dedicated to news and education in this growing area of financial technology. We offer a Premium subscription service that includes unlimited access to Premium articles, a weekly video update, exclusive discounts for events, and much more. Subscribers to the Premium plan gain access to valuable data and exclusive market insights. For those looking for even more benefits, our Premium Plus subscription includes everything in the Premium package, plus passes to all Bank Automation News events, a library of on-demand conference content, exclusive monthly webinars, and additional perks.

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Google Cloud combats 'shadow AI' with security measures

2 days ago | bankautomationnews.com | Vaidik Trivedi

By Vaidik Trivedi AI is being adopted at breakneck speed within the financial services industry, introducing a new threat: shadow AI. Shadow AI is the unauthorized use of AI by an employee, Derek Holt, chief executive of IT solutions provider Digital.ai, told Bank Automation News. "Large enterprises and FIs make rules on what tech solutions [like AI] employees [...]
CFPB X account 'doesn't exist' anymore

2 days ago | bankautomationnews.com | Vaidik Trivedi |Whitney McDonald

By Vaidik Trivedi, Whitney McDonald The Consumer Financial Protection Bureau's X account is gone. "This account doesn't exist," reads social media platform X, formerly Twitter, on what used to be the regulatory agency's official account. Since President Donald Trump took office Jan. 20, the CFPB has experienced sweeping changes: In April, the CFPB issued staff reduction notices to more than [...]
Lender OakNorth to originate $1.5B in 2025

3 days ago | bankautomationnews.com | Vaidik Trivedi

By Vaidik Trivedi London-based online lender OakNorth has originated over $1 billion since making its U.S. market debut in July 2024. Small- and medium-sized businesses have flocked to OakNorth for its services, and the lender is looking to expand through the real estate market, Ben Barbanel, head of debt financing at OakNorth, told Bank Automation News. "This year, [...]
CFPB could 'water down' open banking rule, founder says

4 days ago | bankautomationnews.com | Vaidik Trivedi

By Vaidik Trivedi Since Donald Trump took office on Jan. 20, the Consumer Financial Protection Bureau has seen significant transformation. Actions by the Trump administration have roiled the Consumer Financial Protection Bureau (CFPB), reducing its headcount, rolling back lawsuits against major FIs and placing a freeze on new regulation. One regulation that may be revisited is Section 1033, [...]
HSBC launches tariff tool to aid SMBs

1 week ago | bankautomationnews.com | Vaidik Trivedi

By Vaidik Trivedi As tariff-related pressures mount, HSBC is launching a trade financing and payments solution to help businesses conduct cross-border trade. Businesses across economic sectors including electronics, pharmaceuticals and apparel are choosing a wait-and-see approach, Ajit Menon, managing director and U.S. head of global trade solutions at HSBC, told Bank Automation News. "Every client irrespective of size [...]
AI writes up to 30% of code at Microsoft, CEO says

1 week ago | bankautomationnews.com | Vaidik Trivedi

Despite recent reports sounding alarms about big tech pulling back on AI-driven data center capital expenditures, executives have calmed the markets during first-quarter earnings calls by reaffirming their commitments to build out the tech. Apple, Amazon, Google, Meta and said they are significantly increasing investments in data centers and other infrastructure to bolster AI. Meta and financial conglomerate Nomura Holdings are among Meta's AI clients, according to the company.
Senate proposes GENIUS Act to provide clarity on stablecoin, payments

1 week ago | bankautomationnews.com | Vaidik Trivedi

By Vaidik Trivedi The U.S. Senate has introduced a Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which seeks to provide clear guardrails and proper regulatory oversight for the development of stablecoins. "We believe the United States should be the premier destination for digital assets," Treasury Secretary Scott Bessent testified at a House Financial Services Committee [...]
Huntington Bank resolves multiday outage

1 week ago | bankautomationnews.com | Whitney McDonald |Vaidik Trivedi

By Whitney McDonald, Vaidik Trivedi Huntington Bank has been experiencing transaction processing delays. A spokesperson at the $210 billion bank told Bank Automation News: "Due to a processing issue, some Huntington Bank customers may have experienced issues accessing account information and delays in the processing of certain transactions. The issue has been resolved." Consumers started reporting issues May 6 via [...]
Huntington Bank experienced transaction processing delays today

1 week ago | bankautomationnews.com | Whitney McDonald |Vaidik Trivedi

By Whitney McDonald, Vaidik Trivedi Huntington Bank has been experiencing transaction processing delays. A spokesperson at the $210 billion bank told Bank Automation News: "Due to a processing issue, some Huntington Bank customers may have experienced issues accessing account information and delays in the processing of certain transactions. The issue has been resolved." Bank customers reported outages via real-time outage [...]
Fiserv resolves data center outage

1 week ago | bankautomationnews.com | Whitney McDonald

By Whitney McDonald Fiserv's network issues are resolved following Friday's outage, which stemmed from a planned network enhancement at one of its data centers. The data center glitch affected peer-to-peer payment provider Zelle's transactions during the outage. "On Friday morning, we experienced an internal issue that temporarily disrupted service," Fiserv told Bank Automation News. "The issue was fully [...]