Bankers often say they use retrieval augmented generation to keep their generative AI deployments safe from hallucination. But they may be hanging too much hope on this idea, according to Seth Dobrin, former chief AI officer at IBM. https://bit.ly/3TC6vLb
American Banker
Online Audio and Video Media
New York, New York 189,881 followers
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
About us
American Banker, an Arizent brand, is the banking industry's most powerful information resource providing analysis, insight and perspective on the business of banking. American Banker covers the people, trends, regulations and technologies driving the industry, helping readers keep pace with changes and opportunities in the marketplace. Executives and industry influencers also engage via American Banker's online and live conferences and seminars.
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http://www.americanbanker.com
External link for American Banker
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- Online Audio and Video Media
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- 201-500 employees
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- New York, New York
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- Privately Held
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New York, New York 10004, US
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Updates
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American Banker reposted this
Banks are eager to secure Apple's lucrative credit card business, which includes a premium portfolio and accelerated growth that outpaces the wider #creditcard industry. Apple Card users are affluent, young, and more likely to maintain outstanding balances, making this an attractive portfolio for any major bank. But those same banks are going to have to pay for it. Read more about the implications and opportunities on American Banker. https://lnkd.in/evCJ44in
What's at stake for banks vying for Apple Card's business
americanbanker.com
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Hundreds of thousands of Americans leave prison each year with little or no financial literacy. It’s in the interest of banks and the communities they serve to educate them, write Rafael Rogel, of Beneficial State Bank, and Joey Pagaduan, of the Center at Impact Justice, in @AmerBanker @BankThink.https://bit.ly/4gw3UMw
Banks should help people returning from prison gain financial literacy
americanbanker.com
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"It's mind boggling." What the crypto election means for bankers https://bit.ly/3TBzXAK
Welcome to the crypto election
americanbanker.com
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American Banker reposted this
Six months after I wrote about the unclear succession plan at TD, the company has answers. CEO Bharat Masrani is retiring next April, and passing the torch to Raymond Chun, who currently leads Canadian personal banking. Masrani made clear in recent months that he would stay at the helm to see the bank through its anti-money-laundering troubles in the U.S., which will likely cost upwards of $3 billion. "The anti-money-laundering challenges we face took place on my watch as CEO and I take full responsibility," Masrani said in today's succession announcement. Find latest for American Banker in the comments.
The CEO of TD has been at the helm for nearly a decade, and is pushing 70. Now, it's unclear who will take his place, or when. Read my latest for American Banker on the unclear succession plan at one of Canada's largest banks:
TD's 'million-dollar question:' Who will be its next CEO?
americanbanker.com
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25 or 50? That was the question coming into this week's Federal Open Market Committee meeting. Federal Reserve Board officials had all but guaranteed a rate cut, leaving bankers, borrowers and everyone in between to wonder whether it would lower its benchmark rate by 25 basis points or 50. In a move that surprised some observers, the FOMC opted to lower its policy rate by half a percentage point, or 50 basis points, to between 4.75% and 5%. The move ends the Fed's post-pandemic monetary tightening campaign and marks a shift toward focusing more on employment protection than inflation reduction. Read about the move and how we got here in my piece for American Banker. https://lnkd.in/eFyyDgwP
Fed cuts interest rates by half percentage point
americanbanker.com
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For bank regulation, the election has been defined by an unusual degree of uncertainty. Former President Donald Trump is often difficult to pin down on specific policy points as he sways between different camps on issues. Vice President Kamala Harris is a latecomer to the campaign and has had little time to flesh out her vision in many niche policy areas. "What's unique and challenging about this election is that both candidates are unclear as to what they'll do," said Aaron Klein, a senior fellow in Economic Studies at the Brookings Institution.
Flying blind: Bankers lean on policy glimpses to evaluate Harris, Trump
americanbanker.com
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American Banker reposted this
Big news this morning from TD today and my colleague, Catherine Leffert, has the details. More to come later today.
TD CEO Bharat Masrani to retire amid AML compliance woes
americanbanker.com
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Powell: Regulators will 'move as a group' on Basel re-proposal; Silvergate executive blames regulators for bank's collapse; lessons from the CBA's foray into social media influencer campaigns; and more in today's newsletter.
Basel re-proposal gets Fed chair's support; CBA experiments with influencers; Silvergate's woes
American Banker on LinkedIn
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American Banker reposted this
Why are crypto companies spending millions to influence the outcome of the presidential election? Political reporter Claire Williams has the story, today's installment of American Banker's series on the election and how it will impact financial services.
Welcome to the crypto election
americanbanker.com