OpenAI, the creator behind artificial intelligence-powered chatbot ChatGPT, is launching Sora, a text-to-video model. Sora can create videos that are up to one minute long based on text prompts from users, OpenAI said in a Thursday (Feb. 15) blog post. “We’re teaching AI to understand...
While other lenders are cutting staff, Silicon Valley Bank (SVB) is reportedly hiring. The financial institution, whose failure in March of 2023 set off a larger banking crisis, has added about 200 bankers since then and has openings for dozens more, President Marc Cadieux told Bloomberg News Thursday (Feb. 15). “So...
One week after its rebrand as “Gemini,” Google’s artificial intelligence tool received a new update dubbed “Gemini 1.5.” “Gemini 1.5 delivers dramatically enhanced performance,” Demis Hassabis, CEO of Google DeepMind, wrote in a company blog post Thursday (Feb. 15). “It represents a step change in...
U.S. Bank said Thursday (Feb. 15) that more than 2,000 of its clients have been approved for personal loans over the past few months thanks to the technology and credit intelligence network enabled by the bank’s partnership with Pagaya Technologies. The bank teamed up with...
Payments technology company NMI has debuted a new embedded payments solution. NMI Payments, announced Thursday (Feb. 15), is designed for software companies, independent sales organizations (ISOs) and payment professionals, the company said in a news release. “The NMI Payments platform easily integrates within existing applications and payment solutions, offering...
The Office of the Comptroller of the Currency terminated a 2016 consent order against Wells Fargo. The consent order concerned deficiencies and unsafe or unsound practices in the bank’s risk management and sales practices, the OCC said in a Thursday (Feb. 15) press release. The...
Shares of smaller artificial intelligence (AI) firms reportedly experienced a rally Thursday (Feb. 15) after Nvidia, the world’s leading AI chipmaker, disclosed its stake in them as of Dec. 31. This move by Nvidia offers insights into its growth strategy and highlights its growing influence in...
Blackhawk Network (BHN) has introduced a new way for businesses to distribute customer loyalty rewards. The branded payments provider’s “Select Codes” offering, announced Thursday (Feb. 15), is a digital “code-to-catalog” that lets businesses distribute codes to customers, who can then swap that code for their choice of...
When it comes to cross-border payments, there are necessary and unnecessary frictions. That’s according to Federal Reserve Governor Michelle Bowman, who discussed the challenges facing cross-border payments Thursday (Feb. 15) during a speech at the BCBS-FSI High-Level Meeting for Africa in Cape Town, South Africa. “As one...
