Lenders using AI-based underwriting must comply to CFPB guidance The Consumer Financial Protection Bureau has doubled down on adverse action requirements for lenders using AI-based underwriting with new guidance, marking a shift in tone from its previous guidance in 2022.   A CFPB blog post Tuesday echoed guidance issued in 2022, but largely focused on adverse action notices’ accuracy and specificity requirements, Brian Fink, partner at McGlinchey, told Auto Finance News, a sister […]
https://bankautomationnews.com..../allposts/ai/lenders

Payments status updates comprise 80% of Citi queries TORONTO — Eighty percent of queries across Citigroup’s 96-country network — which includes more than 200 million clients — are payment status queries.  Pre-validation capabilities could bring that number down for banks, Debopama Sen, co-head of global payments and receivables at the $2.4 trillion Citi, said at the Sibos 2023 event this week. As payments […]
https://bankautomationnews.com..../allposts/payments/p

Brex, Ally roll out AI-driven chatbots Ally Financial and Brex rolled out AI-driven virtual assistants this week. Ally debuted a customer representative assistant to help service team members aid clients more efficiently while Brex’s virtual assistant aims to help employees of commercial clients file and manage expense reports.  In the United States, more than 100 million consumers will use generative AI […]
https://bankautomationnews.com..../allposts/ai/brex-al

Africa: Your Unique Body Odor Could Identify Who You Are and Provide Insights Into Your Health - All From the Touch of a Hand [The Conversation Africa] From the aroma of fresh-cut grass to the smell of a loved one, you encounter scents in every part of your life. Not only are you constantly surrounded by odor, you're also producing it. And it is so distinctive that it can be used to tell you apart from everyone around you.
https://allafrica.com/stories/202309210380.html

Kenya: Konza Unveils Blueprint for Industrial Roadmap [Capital FM] Nairobi -- Konza Technopolis has launched an Economic Innovation Partnership Programme report, which will act as a blueprint for the implementation of industrial setups in the smart city.
https://allafrica.com/stories/202309210054.html