RBC CEO McKay says AI helping to curb credit card fraud

TORONTO (Reuters) – Royal Bank of Canada’s (RY.TO) chief executive, Dave McKay, said on Thursday that artificial intelligence (AI) is helping the bank reduce credit card fraud, and he said the bank expects to use blockchain technology in its loyalty programs next year.

McKay said in a Reuters Newsmaker interview with Reuters Editor-in-Chief Stephen Adler that the bank is spending over C$ 10 million ($ 8.04 million) a year on artificial intelligence.

Reporting by Matt Scuffham; Editing by Leslie Adler

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