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Machine learning drives loan approvals worldwide, but legal accountability frameworks built for human underwriters haven't been updated for algorithms operating at scale.
Anthropic is rolling out roughly 10 pre-built AI agents for banking and finance, targeting pitchbooks, credit memos, KYC compliance, underwriting, and insurance claims.
FIS is deploying Anthropic-powered AI agents into credit decisioning, AML compliance, and fraud prevention across 20,000 financial institutions — one of the broadest AI distribution deals in banking to date.
Exclusive American Banker research finds agentic AI is in production across credit underwriting, fraud detection, and customer service at leading banks — and stablecoin adoption is outpacing expectations alongside it.
Fed Vice Chair Michelle Bowman acknowledged banks are deploying AI for fraud detection and credit underwriting faster than regulators can update frameworks to govern it.
Global banks are investing record sums in AI while deploying almost none of it at scale — held back by regulatory explainability requirements, legacy infrastructure, and model validation backlogs.
Workable solutions to AI's power grid strain exist — but permitting bottlenecks, eliminated tax credits, and political obstacles are blocking 2,500 gigawatts of energy projects worldwide.
OpenAI has acquired Hiro Finance, a startup that built an autonomous personal finance assistant with direct bank and credit card connectivity — the company's clearest move yet into vertical-specific AI where the stakes involve real money.