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  • Wells Fargo, JPM, Citi, Bank of America share this year’s AI productivity gains

    AI is responsible for productivity gains at some of the nation’s largest banks, leaders said at the Goldman Sachs 2025 U.S. Financial Services Conference this week.   Executives from Bank of America, Citi, JPMorgan and Wells Fargo quantified AI efficiency gains, from coding to operator savings.  Bank of America: AI-driven Erica is equivalent to 11K FTEs  The $2.5 trillion bank’s AI-driven consumer business assistant, Erica, had 1.4 billion digital connections with customers in […]

    Whitney McDonald

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  • Nearly 80% of Citi’s workforce has access to AI tools

    Citi is deploying AI at scale internally to drive efficiency, with several tools already available to nearly 80% of its team. The $1.6 trillion bank introduced internal AI tools to more than 182,000 colleagues in 84 jurisdictions in 2025, and plans to expand access, Payal Jain, head of application engineering and platforms at Citi, told […]

    Vaidik Trivedi

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  • Fintech Enova International to acquire digital-first Grasshopper Bank for $369M

    Publicly traded fintech Enova International (NYSE: ENVA) said today it has agreed to acquire Grasshopper Bancorp and subsidiary Grasshopper Bank in a cash-and-stock deal valued at about $369 million. ENVA stock jumped 11.7% to $157.92 today. Grasshopper, a digital-first bank founded in 2019, holds more than $1.4 billion in assets and roughly $3 billion in […]

    FinAi News, AI-assisted

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  • 2025 brings leadership rethink as banks install chief AI officers worldwide

    The global banking sector is adding to its C-suite to keep pace with the AI revolution.  Enter the chief artificial intelligence officer (CAIO).  A CAIO is an executive focused on the oversight of development, strategy and implementation of AI, according to IBM.  Banks in the U.S., U.K., Europe and Australia — even digital banks — are hiring CAIOs to propel AI strategies.  The $2.1 trillion Wells Fargo, for one, announced in November that Saul Van Beurden, will lead AI efforts at Wells as head of AI, co-CEO of consumer […]

    Whitney McDonald

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  • FourLeaf FCU sees 53.8% jump in auto loan origination with AI

    FourLeaf Federal Credit Union is using AI to grow its auto loan portfolio, increasing originations while keeping quality lending standards.  The $14 billion credit union has exceeded $1 billion in loan originations so far in 2025, up from $650 million in 2024, Chief Executive Linda Armyn told FinAi News. That’s a 53.8% year over year increase in auto loan origination volume with nearly three weeks to go. FourLeaf attributes the growth to its partnership with […]

    Vaidik Trivedi

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  • Why HCLTech is teaming up with AWS on gen AI

    Global technology provider HCLTech is developing gen AI solutions both internally and by teaming up with AI giants to meet the demands of its financial services clients, which include:  $904 billion NatWest;  $1.6 trillion Deutsche Bank; $2.1 trillion Barclays; and   The $868 billion State Bank of India.  HCLTech is embedding Amazon Web Services’ gen AI platforms, including AWS Bedrock and SageMaker, into its operations, Srinivasan Seshadri, chief growth officer and global head of financial services at HCLTech, told FinAi News.  This collaboration […]

    Vaidik Trivedi

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  • Wells Fargo CEO sees AI impacting companies’ workforce decisions

    Wells Fargo & Co. Chief Executive Officer Charlie Scharf said artificial intelligence poses a significant opportunity to improve efficiencies and has the potential to influence companies’ headcount decisions. The San Francisco-based lender has rolled out generative-AI tools to its engineers, making it 30% to 35% more efficient for them to write code, Scharf said at […]

    Bloomberg News

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  • How Rocket Mortgage quantifies AI returns

    Rocket Mortgage is quantifying AI returns by measuring the number of loans per team member.  “If I think about what AI does best, it’s almost hard for me to think about a better case study than a mortgage company,” Brian Brown, chief financial officer and treasurer at Rocket Companies, parent of Rocket Mortgage, , said Dec. 3 during the UBS Global Technology and AI Conference 2025.  Mortgage companies are […]

    Whitney McDonald

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  • RBC adds gen AI to ‘fraud-fighting toolbox’

    Royal Bank of Canada is developing tools by combining new and old tech to fight scams powered by gen AI.  The bank is blending AI and gen AI tech to fight fraud, Geoffrey Morton, senior director of fraud strategy at RBC, told FinAi News.  “We’re exploring specifically within scams,” Morton said. “It’s one thing to be able to detect the scam activity but it’s another problem to convince […]

    The post RBC adds gen AI to ‘fraud-fighting toolbox’ appeared first on FinAi News.

    Vaidik Trivedi

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  • OpenAI finds AI saves workers nearly an hour a day on average

    OpenAI’s artificial intelligence products are saving workers an average of about 40 to 60 minutes a day on professional tasks, according to a large survey conducted by the ChatGPT maker amid lingering skepticism of the economic benefits of AI. Employees in industries such as data science, engineering and communications, as well as certain roles like accounting, […]

    Bloomberg News

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  • BNY boosts Eliza AI platform with Google Cloud’s Gemini

    BNY and Google Cloud today announced the integration of Gemini Enterprise — Google Cloud’s agentic AI platform — into BNY’s enterprise AI system, Eliza. The move enhances Eliza’s agentic deep-research tools for market analysis and brings multimodal capabilities to BNY’s global workforce, the companies shared in a release today. Employees can now build AI agents […]

    FinAi News, AI-assisted

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  • TD’s AI virtual assistant leads to 12% drop in call center volume

    Gen AI delivers quantifiable returns for TD Bank, and it is planning to deploy the tech more widely.  One of Toronto-based TD’s first gen AI use cases was a virtual assistant for its customer service centers, introduced in 2024, to help employees find answers to client questions faster, Sumee Seetharaman, head of AI and machine learning, told FinAi News. “Since rolling out our virtual assistant, […]

    Vaidik Trivedi

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  • Paramount+ Black Friday deal: Get either the Essential or Premium plan for only $3 per month for two months

    Paramount+ has launched its latest streaming offer, giving new subscribers two months of access for $6 total through December 2 for Black Friday. With prices rising across other platforms, this short-term deal offers a chance to explore either the Essential or Premium plan and see which fits your viewing habits best. Yes, you can pick either plan and get the $3-per-month deal — of course, that makes the Premium plan the better option in terms of the greater discount.

    Paramount+ continues to expand its catalog with a mix of current CBS shows, exclusive originals, classic TV and live sports. The service is available in two main tiers: Essential, which includes ads, and Premium, which removes most of them and adds a few key extras like 4K streaming, offline downloads and live CBS access. Both tiers include select Showtime programming, giving subscribers a taste of the premium network’s lineup.

    Paramount+

    Get two months of either Paramount+ plan for only $3 per month for Black Friday.

    $6 at Paramount+

    The Essential plan provides access to more than 40,000 episodes and movies, along with live coverage of the NFL on CBS and UEFA Champions League matches. It supports up to three simultaneous streams, making it a practical choice for households that share accounts. The Premium plan builds on that by offering ad-free on-demand viewing (with exceptions for live broadcasts), higher-quality playback and the option to watch CBS live in participating regions.

    Paramount+’s growing library combines new releases with well-known favorites, offering titles from across CBS, MTV, Nickelodeon and Comedy Central. Sports fans get live coverage of key events, while movie watchers can find recent cinema releases from Paramount Pictures joining the lineup throughout the year. The inclusion of Showtime series in both plans adds another layer of variety, with dramas and documentaries available alongside the core Paramount+ content.

    If you’re keeping an eye on subscription costs, an offer like this is a practical way to test the service without paying full price. It also gives you time to see whether the Essential plan’s ad-supported setup or the Premium tier’s extras are worth the difference.

    If you’ve been watching your streaming spend as prices go up elsewhere, this deal from Paramount+ offers a well-balanced opportunity to experience both plan levels at a lower cost. Paramount+ is one of the best streaming services thanks to its vast selection of original shows like Star Trek: Discovery, Ink Master and Frasier. If you’re ready to stream big shows and live events without a heavy commitment this Cyber Monday offer is one to keep in mind.

    There are plenty of other Black Friday streaming deals to consider as well. Here are some of the best ones:

    • Disney+ Hulu bundle — $60 for one year: The Disney+ and Hulu (with ads) bundle is on sale for $5 per month for one year (for a total of $60) through December 1. New and eligible returning subscribers can take advantage of this deal, and considering the bundle typically costs $13 per month, this deal represents more than a 50 percent discount on the standard monthly price.

    • Apple TV+ — 6 months for $36: Apple TV+ is offering six months of access for only $36 for Black Friday, which comes out to a discounted price of $6 per month for the six-month period. The deal is live now for new and eligible returning subscribers and runs through December 1, giving you a chance to stream shows like Silo, The Morning Show and For All Mankind for less. The biggest caveat to the deal is that you must subscribe directly through Apple and not through a third-party service.

    • HBO Max — one year for $36: HBO Max’s Black Friday deal gives subscribers one year streaming for $36 through December 1. This Black Friday streaming deal is on the ad-supported option, which normally goes for $11 per month. With this discount, you’re getting it for $3 per month for one year. You can sign up via HBO Max’s website or, if you’re a Prime Video subscriber already, via that service as an add-on.

    • Sling TV Orange — day pass for only $1: Sling TV launched Day Passes earlier this year, giving users one-day access to a variety of its packages. This deal cuts $4 off the normal price of a day pass for Sling Orange. With that, you get unlimited access for 24 hours to Orange’s more than 30 channels that includes ESPN, CNN, TBS and others.

    Georgie Peru

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  • Featurespace develops gen AI-driven fraud-fighting tech

    Financial institutions are clamping down on fraud by deploying AI tech ahead of holiday season.  Digital payments and check payments are both under threat as gen AI has given fraudsters new ways to commit fraud, for example deepfakes and check washing, Tim Vanderham, chief operating officer at fraud mitigation company Featurespace, told FinAi News.  The company is investing in AI to keep up with the changing landscape of fraud.  “Gen AI is helping us do things […]

    Vaidik Trivedi

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  • PayNearMe AI-powered Intelligent Virtual Agent to launch in 2026

    Payments fintech PayNearMe is piloting its AI-powered Intelligent Virtual Agent to reduce call center costs, improve self-service functions and streamline payments workflows.  Intelligent Virtual Agent (IVA), expected to roll out in 2026, is embedded into the fintech’s payments platform PayXM, John Minor, chief product officer at Santa Clara, Calif.-based PayNearMe, told FinAi News. It uses natural language processing, machine learning and intelligent automation to improve customer interactions.  For example, a borrower may call their lender’s payment […]

    Whitney McDonald

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  • Anthropic called to testify in House on China-backed cyberattack

    A US House committee is calling on Anthropic Chief Executive Officer Dario Amodei to testify about a Chinese cyber-espionage attack the company revealed earlier this month. Leaders of the House Homeland Security Committee asked Amodei to appear before the panel on Dec. 17 to discuss the rise of AI-orchestrated cyberattacks. The committee also requested testimony […]

    Bloomberg News

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  • MidSouth Bank sees fraud loss ratio drop 51% with Casap’s AI tech

    MidSouth Bank has tapped AI-driven dispute-management provider Casap to enhance its operational efficiency and weed out fraudulent claims.  Casap’s AI-driven solution helps the $730 million bank in registering a consumer’s dispute, conducting a background check, inputting all information in relevant dispute management portals and investigation of the dispute by streamlining how the bank contacts the merchant […]

    Vaidik Trivedi

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  • Valley Bank to roll out AI-driven commercial client servicing

    Valley Bank is deploying gen AI tools throughout the organization with a focus on improving its commercial client services and interactions.  The $62 billion bank is working on a gen AI commercial client servicing platform that its employees can use to gain insights into client activity and open doors for personalized cross-selling, Chief Data and Analytics Officer Sanjay Sidhwani, told FinAi News. “We are now able to track at a very granular level any client’s activity, their full 360 view,” Sidhwani said.  Through the platform, Valley […]

    Vaidik Trivedi

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  • Revolut notches $75 billion valuation in latest share sale

    Revolut Ltd. garnered a $75 billion valuation in its latest share sale after months of courting investors, a steep increase from the $45 billion price tag it received last year. The round was led by Coatue, Greenoaks, Dragoneer and Fidelity Management & Research Company, according to a statement. Nvidia Corp.’s venture capital arm NVentures, Andreessen […]

    Bloomberg News

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  • Top Enders see cyclone off and hope to start clean-up

    Top Enders see cyclone off and hope to start clean-up

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