In the consumer deposits and payments products space, the banking as a service (BaaS) model creates significant opportunities for fintech innovation and consumer choice — but BaaS arrangements have also drawn the attention of...more
Curious about how financial institutions, their service providers, and their federal regulators are using and overseeing machine learning and other AI tools? A new GAO report published on May 19th (the “Report”) provides a...more
5/28/2025
/ Artificial Intelligence ,
Banking Sector ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
GAO ,
Machine Learning ,
NCUA ,
OCC ,
Regulatory Oversight ,
Risk Management
Artificial intelligence (AI) offers financial institutions the opportunity to enhance operational efficiency, customer experiences and financial and other risk management. However, these models must be subjected to...more