Temenos News Room

Varo Bank, which became the first U.S. fintech to earn a national banking license when the Office of the Comptroller of the Currency (OCC) awarded it a charter last month, will soon move operations to the Temenos cloud banking platform.

The latest survey on AI from Microsoft and EY found that an unsurprising “65% of organisations in Europe expect AI to have a high or a very high impact on the core business.”

According to a recent survey by the Economist Intelligence Unit (EIU), for Temenos, only cyber security will be a bigger primary focus for technology investment than AI in the next few years.

During the second half of the twentieth century, Artificial Intelligence (AI) was an idea that only featured in science fiction movies. Such films often depicted a future dystopia where humanity struggles at the whim of advancing technology.

Varo, which launched in 2015, provides no-fee checking and savings accounts with no overdraft fees through its mobile application. It received a national banking charter from the US Office of the Comptroller of the Currency (OCC) in August.

Financial institutions that could shift to agile approaches to product development and that stretched for minimum but immediate viability, rather than perfection, enjoyed the best success in offering customers access to the federal small business loan/grant program.