Vaidik Trivedi

First International Bank and Trust is expanding its real-time payments options to boost revenue and meet customer demand. The Wadford City, N.D.-based bank is adding real-time payments to its BaaS and payments arm, Kotapay, which offers instant payments for payrolls and bills, Trent Sorbe, chief payments officer at First International Bank and Trust (FIBT) and […]

Jude Schramm, chief information officer at Fifth Third Bank, will join the Bank Automation Summit U.S. 2025 speaker faculty.

AI might be of importance in the financial services industry, but it doesn't seem to be top of mind for the two presidential candidates. During the presidential campaign, Democrat Kamala Harris mentioned AI four times while Republican Donald Trump mentioned the tech eight times, the report stated. Considering the candidates on Election Day today, […]

The Consumer Financial Protection Bureau today fined Navy Federal Credit Union for illegally charging customers overdraft fees, calling it the largest penalty the agency has levied against a credit union for illegal activities. The $177 billion, Vienna, Va.-based credit union allowed customers to make transactions beyond their available balances, then charged them surprise overdraft fees, […]

BNY has tapped Nvidia to build an AI factory to increase its computational power and deploy gen AI more efficiently within its operations. Nvidia AI factories are a set of graphic processing units (GPUs) embedded with Nvidia software that can be customized for each organization to run gen AI models efficiently, Malcolm deMayo, global vice […]

Financial institutions and tech providers are teaming up to develop training programs to help bank employees navigate new AI-driven technology. As banks look to AI to gain efficiencies, employees must get on board, Srinivasan Seshadri, global head of financial services at tech provider HCLTech, told Bank Automation News, adding that FIs “want to do more […]

Fintech initial public offerings have declined in the past year as investors and companies adjust to changing rates and macroeconomic conditions. The U.S. capital market raises an average of $46 billion each year across all industries and had raised $37 billion through the end of September this year, Lynn Martin, president of the New York […]

Banks are leaning on technology to provide personalized services to retain consumer deposits as the Federal Reserve shifts to lowering interest rates.

Chip-maker Nvidia is executing a full-stack gen AI strategy to expand its services to the financial services industry, evidenced through its product launches and acquisitions. The financial services “market appears to be moving toward what we call ‘full stack, AI dominance,'” Adya Pandey, intelligence analyst at data company CBInsights, said during a recent webinar. Full […]

Many financial institutions are not satisfied with the investments made in their cloud infrastructure and are reconsidering those investments moving forward, experts say. Fewer than 40% of financial services companies said they were highly satisfied with cloud migration outcomes, according to Capgemeni's Nov. 14 Cloud in Financial Services report, for which the think tank surveyed […]