American Banker

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This article outlines the ways in which AI is being adopted by banks and describes the growing competitive pressure on these institutions to adopt AI technologies. Relevant use cases for AI include well-established applications like fraud detection as well as emerging uses like lending, where AI has potential to improve the accuracy and fairness of models, but poses more significant risks to consumers, firms, and investors.
A variety of technology companies have adapted software and platforms to support emergency small business lending. This article explores the various ways in which fintechs have helped banks implement the Paycheck Protection Program, including allow banks to automate application review and underwriting, collecting and verifying documents, and transmitting information to the Small Business Administration.​