Huntington National Bank has debuted a new operating system designed for small businesses. The 1866 Studio, named for the year the bank was founded, was built using Google’s Gemini artificial intelligence (AI) platform, the tech giant announced Monday (Oct. 19). “Small business owners shouldn’t have to become experts in every...
Santander has teamed with Nvidia to come up with capabilities for evaluating artificial intelligence models and agents for banking. This work by the Santander AI lab is designed to help determine which AI model is best suited for a task and deploy it in the...
Several of America’s regional banks posted robust third-quarter earnings last week amid strong commercial loan demand. And as Reuters reported Friday (Oct. 16), these earnings add to indications that the U.S. economy is still resilient even in the face of increasing borrowing costs. People have...
As FinTechs scale, they bring banks more deposits, loans, transactions and fees while gaining more choice over which institutions provide the funding and infrastructure behind them. Upgrade facilitated more than $53 billion in credit through a model built with banks and loan buyers when it...
Truist exited its third quarter with higher deposits, continued growth in consumer spending and stable underlying credit quality. An earnings call Friday (Oct. 16) indicated that the new Truist CEO, Mike Lyons, wants a larger share of customers’ primary banking relationships. Average deposits rose 3.6%...
As technology makes it easier for clients to move deposits in search of higher interest rates, banks must compete by providing better solutions, PNC Financial Services Group Chairman and CEO William Demchak said Thursday (Oct. 15). Demchak said this during the bank’s third-quarter earnings call,...
Cross River Bank now offers Ripple’s U.S. dollar-backed stablecoin, Ripple USD (RLUSD), through its Core Operating System, Cross River said in a Thursday (Oct. 15) press release. This integration establishes RLUSD as an additional payment rail on Cross River’s platform, in the same environment as...
Bank of America’s profits dropped 17% during the third quarter, according to a Wednesday (Oct. 14) quarterly earnings press release, following a $1.2 billion regulatory fine over money laundering violations. The second-largest bank in the United States reported third-quarter earnings one day after the U.S....
Bank of America’s consumers spent more in the third quarter while moving a larger share of their banking activity onto the company’s digital channels, giving the bank growth in transactions and engagement at the same time that its checking account franchise continued to expand. Combined...