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How Artificial Intelligence Is Reshaping Banking

Artificial intelligence is transforming the banking industry, with far-reaching implications for traditional banks and neobanks alike. This transition from classic, data-driven AI to advanced, generative AI provides increased efficiency and client engagement never seen before in the banking sector. According to McKinsey’s 2023 banking report, generative AI could enhance productivity in the banking sector by…

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Banks, State Regulators Slam FDIC’s Bank Board Director Proposal

Banks and an unexpected ally state bank regulators are rejecting a proposal from the Federal Deposit Insurance Corp. to increase board directors’ risk-management responsibilities following a series of bank failures last year. The FDIC wants to require bank board directors to manage the risk profile of their financial institutions and minimize potential conflicts of interest…

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