FinTech

US Regulators Highlight AI’s Growing Role in Banking for Fraud Detection and Underwriting A U.S. House Financial Services subcommittee convened on March 26, 2026, to examine the integration of artificial intelligence within the financial sector. Testimonies from federal regulators, including the Federal Reserve and FDIC, revealed that banks are increasingly utilizing AI and machine learning for a variety of functions. These applications range from improving operational efficiency to enhancing fraud detection and anti-money laundering processes. Notably, AI is being used with cash flow data to assist in credit underwriting for individuals who might not have access to credit through traditional methods. The National Credit Union Administration has also launched an AI Resources page on its website to support credit unions in adopting these new technologies. ...

OpenAI & Nvidia Eye $100B Chip Deal to Fuel Next-Gen AI OpenAI and Nvidia are reportedly planning a landmark $100 billion chip deal aimed at shaping the future of artificial intelligence. This significant investment underscores the increasing competition and demand for specialized data center chips to power advanced AI models. The collaboration is expected to involve OpenAI acquiring Nvidia’s GPU systems, with Nvidia taking a non-controlling equity stake. This strategic partnership aims to significantly scale OpenAI’s computational infrastructure. ...