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Banks embrace fintech and AI, but say cybersecurity and regulation remain top risks
Summary
Bank executives described partnerships with fintechs, internal AI tools for operations, and large technology investments, while warning that cybercrime and evolving payments (stablecoins) are major concerns.
Columbus — Executives from large and regional banks at a Columbus Metropolitan Club forum described a rapid adoption of fintech and artificial intelligence, while saying cybersecurity and regulatory compliance remain top operational concerns.
“Running a large operation…it's really essential that we lean into some of these emerging technologies,” Becky Griffin, head of home lending servicing and support operations at JPMorgan Chase, said. Griffin said her firm uses internal large-language models to help employees automate routine tasks and to extract data from mortgage documents.
Why it matters: Panelists said digital…
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