American Banker Podcast

Advances in the company’s AI-based lending models have made them better at predicting risk, which has led to growth, he says.

Seth Dobrin, founder of Qantm AI and former global chief AI officer at IBM, addresses the complications of large language models (LLMs) in financial services. He highlights the alarming rate of hallucinations in these models and discusses mitigation strategies like retrieval augmented generation. Dobrin also emphasizes the ethical ramifications of data usage, the environmental impact of LLMs, and the need for a responsible framework to harness their potential effectively. His insights shed light on the critical balance between innovation and accountability in AI.

Jake Donoghue, author of the book Crypto Confidential, shares some of the worst practices he saw as a founder of a cryptocurrency company.

Karen Petrou, managing partner at Federal Financial Analytics, discusses the intricate dance between banks and fintechs. She warns that inadequate due diligence can lead banks into risky partnerships. Petrou highlights concerns regarding consumer awareness of fund safety and the importance of rigorous compliance with regulations. She advocates for stronger oversight in these collaborations to prevent financial discrepancies and safeguard customer interests. The conversation sheds light on the essential balance between innovation and risk management in banking today.

Two veterans and executives at Armed Forces Bank – Tom McLean and Jodi Vickery – share the challenges they see their customers face and new products the bank has rolled out this year to better serve them.

Gene Scalia, the banking lobby’s lawyer on retainer for a potential challenge to Washington’s capital reform effort, discusses the state of administrative law after the overturning of a key legal precedent.

The Florida bank has emerged from de novo status and can now offer its solar loans in a larger geographic footprint.

Foundational models like GPT-4, the large language model behind ChatGPT, have hoovered up content from publications like The New York Times and social media sites like Reddit and OpenAI, and it faces several lawsuits because of this. John Thompson, global head of artificial intelligence at EY and author of the book Data for All, has set up what is believed to be the largest private, secure generative AI environment in the world, with focus on keeping internal data protected.

Proof of identity is critical for many things, including being able to open a bank account, get a job, or obtain health care. Yet proving one’s identity is getting harder in a world of frequent data breaches. We asked Mariana Dahan, founder of the World Identity Network and chair of the Universal ID Council, what she thinks will solve this problem.

Caitlin Long, Custodia's CEO, discusses the legal battle with the Federal Reserve over master account access. The debate includes concerns about political influence, regulatory control, and implications for various entities. The podcast delves into recent court rulings, financial impacts on banks, and the criteria for master account eligibility.