mastodon 4.7.2#FinServ Consultant | #Strategy #Fintech #Payments #Banking #Innovation | #Marathoner | Views my own! 🇨🇴🇪🇸🇮🇱🇺🇸🏳️🌈
#AI is exhausting workers so much, researchers have dubbed the condition ‘AI brain fry’
https://www.cnn.com/2026/03/13/business/ai-brain-fry-nightcap
Ars Technica Pulls Article With
AI Fabricated Quotes About AI Generated Article
A story about an AI generated article contained fabricated, AI generated quotes. At this rate, soon we won’t be able to know what’s real and what’s #AgenticAI
PNC to cut 777 FirstBank jobs this summer
The reductions at the acquired bank’s Colorado headquarters are designed to stem “overlap.” PNC, in a statement, touted the Denver market as a strong, strategic talent base for technology at the bank.
Repay attracts $1B takeover offer
The payments processing services company is the target of an unsolicited offer from an investor, just as it’s trying to acquire another company.
https://www.paymentsdive.com/news/repay-attracts-1b-takeover-offer/818178/
DOJ rescheduling medical #Cannabis may reignite bank interest
The DOJ is moving federal and state-approved medical products immediately to Schedule III, and will consider fully rescheduling the substance
https://www.americanbanker.com/news/doj-rescheduling-medical-cannabis-may-reignite-bank-interest
Mission Lane applies to become a bank
The startup filed the first credit card bank charter application in roughly 20 years, an observer said. The charter would allow Mission Lane to affix home-state interest rates on loans nationwide.
IMF Says AI Can Win Fraud Fight if Banks Start Sharing Data
The IMF’s call for deeper cooperation and data sharing is, in many ways, a recognition that the existing paradigm has reached its limits.
Bread's strong earnings tempered by economic worries
Bread Financial reached an inflection point for loan growth and posted its sixth consecutive quarter of improving credit.
https://www.americanbanker.com/payments/news/breads-strong-earnings-tempered-by-economic-worries
Unpatched #AI flaw poses risk to banking sector
Security researchers highlighted an architectural flaw in Anthropic's Model Context Protocol that the company has declined to patch.
https://www.americanbanker.com/news/unpatched-ai-flaw-poses-risk-to-banking-sector
Iran-related risks manageable for banks, but duration is key
Banks' direct exposures and losses from the Iran conflict have been limited, but the longer the war goes on, the greater the risk of recession and broader financial losses become, experts say.
https://www.americanbanker.com/news/iran-related-risks-manageable-for-banks-but-duration-is-key
Huntington's profits rise, but it boosts reserves on war worries
The downside of the more cautious stance is that it shaves five basis points off Huntington's expected net interest margin for 2026. The company still beat analysts' first-quarter profit expectations.
https://www.americanbanker.com/news/war-worries-prompt-huntington-to-boost-reserves-by-4b
Bankers say they're #AI fluent, but measurement is 'ad hoc'
Banks spent 2025 opening their wallets for AI. When asked this spring to rate how fluent their workforces have actually become, most landed on "moderate."
https://www.americanbanker.com/news/bankers-say-theyre-ai-fluent-but-measurement-is-ad-hoc
Amex CEO gushes over next gen
Steve Squeri believes the younger cohort of Amex card holders are suited to withstand economic storms.
https://www.paymentsdive.com/news/amex-ceo-gushes-over-next-gen/818320/
FIS, Barclays extend core banking tie
The payments processor has won a multi-year extension of its core banking technology contract with the British financial institution.
https://www.paymentsdive.com/news/fis-barclays-extend-core-banking-tie/817930/
Banks should move forward on #AI with eyes open to potential risks
Banks should be actively experimenting with AI. The challenge is how to do so with discipline, judgment and a clear understanding of its limits.
Visa, Mastercard face new suit over card fees
Three plaintiffs say a 2019 settlement in card fee litigation should not give the card networks years of legal immunity for antitrust claims.
https://www.paymentsdive.com/news/visa-mastercard-face-new-suit-over-card-fees/818294/
Why Truist is testing bill pay with Zelle
Zelle parent Early Warning Services has been looking for popularize new use cases for its payments network beyond its peer-to-peer roots
https://www.americanbanker.com/payments/news/why-truist-is-testing-bill-pay-with-zelle
Huntington whittles expense growth
The regional bank is pruning some investments in hiring and technology amid a tighter focus on controlling cost increases, its CFO said.
https://www.bankingdive.com/news/huntington-bank-expense-growth-cfo-wasserman-earnings/818409/
As banks rely more on vendor platforms, the compliance burden shifts
Shared infrastructure creates a specific kind of risk that traditional supervision was not designed to see.
