Penny Crosman is Editor at Large at American Banker. Prior to taking on this role, she was Editor in Chief of Bank Technology News and Technology Editor of American Banker. She has held senior editorial roles at Bank Systems & Technology, Wall Street & Technology, Intelligent Enterprise and Network Magazine, among other titles.
As many as a dozen financial institutions are deploying IBM’s Watson to search for signs of employee misconduct so they can avoid a Wells Fargo-size scandal. But the legal and technical limits of its use are major issues.
In experimenting with a chatbot on its mobile app, TD Bank will have to tackle the same issue facing several of its rivals — how to automate conversations with consumers and decide at what point it’s time to switch to a human.