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While AI seems to be everywhere these days, one place it is getting real traction is in the compliance space. There is a lot of manual, repetitive work in the compliance teams at large banks and fintechs. Hummingbird is looking to ease that burden with the launch of a new AI-based compliance tool.

Payment by bank account is a functionality that has existed for more than a decade in many countries. But it is still a relatively new phenomenon in the U.S.