When used for fraud prevention, a card issuer sends a text message to a card holder about a recent transaction that meets the issuers parameters as suspicious. The card holder then has a chance to reply that they recognize the transaction or that they don't. If they don't, the account is suspended and the card issuer sends another text message with a phone number for the card holder to call for further investigation and instructions........New White Paper Addresses Text Alert Concerns
47-Second Loan Décisions. Underwriting in Minutes. How AI is Revolutionizing Turnaround Time in Mortgage Lending
May 27, 2026 CU Today TORONTO–While AI has been deployed across a host of back office functions, on the consumer-facing side its promise is increasingly being seen in mortgage lending, where lenders are promising mortgage approval decisions in as little as 47 seconds, reporting that up to a third of inquiries are now being handled by chatbots, and slashing underwriting time to just minutes. Toronto-based TD Bank Group said it has also deployed its first agentic artificial intelligence system in mortgage lending, reducing the time required to prepare applications for underwriting from an average of roughly 15 hours to less than three minutes. According to a statement from TD Bank, the new AI model automates mortgage pre-adjudication — the process that occurs before a human underwriter reviews an application. The bank said the system classifies borrower documents, extracts and validates financial information, calculates income, performs policy and consent checks, identifies discrepancie...

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