banks

A collection of 28 posts

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AI

AI will impact more than half of finance jobs -- banks to spend $40 billion: Citi

"This process requires an ability to efficiently validate, understand, and store content of documents to correctly implement client instructions"

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Citigroup

Citi slashes 110 applications, overhauls backups: Next up...

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AI

“We’re not going to be chasing shiny objects” – What leaders at America’s biggest banks are saying about AI

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contracts

Bank’s “Rainbow” programme turns a shade of Big Blue

£100 million to build an application and a "fully functional transactional website"? We'll take it!

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banks

Europe's banks steel themselves for a tough ECB cyber resilence test after blistering criticism

"Institutions continue to report gaps in risk control areas considered fundamental to cyber hygiene, such as proper identity and access management, timely vulnerability patching or network security"

banks

Banks need to do better on operational resilience: Basel

"There is still work to do on developing appropriate business continuity and contingency plans and exit procedures where third parties provide critical operations"

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IAM

How EQ banked on Boundary for IAM long before GA

Challenger bank makes a bold choice for new identity and access management program

banks

US mega-banks keep up tech spend, but emphasise headwinds

"We're deep into the large body of work of automating manual controls and processes, consolidating fragmented tech platforms and upgrading our data architecture"

banks

Metro Bank wins a lifeline, but for how long?

Efficient at IT, but not much else looks hugely attractive

banks

HSBC breached this banking rule 12,200 times. Regulators sigh wearily

"HSBC’s processes, systems and staff were not capable of detecting and reporting these breaches until December 2022. The inability for HSBC to determine the scale of these breaches due to the inadequacy of its systems and processes is a further concern."

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banks

Banks’ IT spending in 2023 to hit $652 billion: Here's what some Big Spenders are focusing on...

From Citi's $1 billion "fat finger" and regulatory intervention driving a massive compliance overhaul, to major cloud migrations, spending continues at scale...

Enterprise IT

This retail bank has drawn a huge flurry of new users. Here’s why.

The retail banking market has heated up hugely in the UK in recent years, with the rise of digital-native banks like Monzo and Starling winning awards and customers – over seven million, three million respectively.) They hit the market with minimal technology debt, having built new stacks from the ground up,

Enterprise IT

Federal Reserve's damning Silicon Valley Bank post-mortem cites "textbook case"...

Fed says warns tech may have changed the pace of bank runs, points to "textbook" mismanagement

Policy

Worried central banks launch joint liquidity operation

Is this a tech story? Well, kind of...

Featured

A $1bn fat finger helps drive Citi's $13.6bn IT spending plans

Overhaul comes after howling error in 2020 blamed on legacy software, bad training...

Featured

Starling Bank CEO aims fire at "tech bros", to quadruple pre-tax profits

Anne Boden aims fire at "tech bros"

Enterprise IT

Apollo to Blackrock, Citi to Deutsche: Whales weigh in on the outlook for tech in 2023

Whether you work with technology as a CIO or developer, at a software provider, in government, defence, pharmaceuticals, or at a bank, we are all swimming in the waters of the same global macroeconomic environment; the conditions of local tributaries may vary, but the outlook for tech in 2023 will

Enterprise IT

Job of the Week: COO, UK Infrastructure Bank: Build that stack...

The UK Infrastructure Bank –  launched by the Chancellor of the Exchequer in June 2021 to provide £22 billion in infrastructure finance – is looking for a Chief Operating Officer (COO), who will also be responsible for IT. The UK Infrastructure Bank is currently operating without its full suite of staff and

Enterprise IT

Goldman Sachs puts tech-led "Platform Services" at heart of restructuring

Goldman Sachs wants to be a fintech, consolidates firm-wide tech offerings...

Enterprise IT

Bank of America’s $3 billion in annual IT spending is paying off -- and growing double-digits

CEO Brian Moynihan: "Our technology spending will go up 15% this year"

Enterprise IT

Banks fined billions for "pervasive", pesky WhatsApp use

Every major investment bank you can think of fined...

Enterprise IT

Shadow IT failings cost Morgan Stanley $200m as CIOs continue to grapple with WhatsApp use

UK government's self-deleting WhatsApp message use was legal, meanwhile...

Featured

ING CTO: We're shifting applications aggressively to private cloud

"It's quite unique for a bank to build such an extensive in-depth technology platform..."

Enterprise IT

Bank of England demands firms test "severe" operational resilience scenarios

"They will need to invest..."

Featured

HSBC boosts technology spending to $6b; cloud adoption rate at 27%

That's half what JPMC spends, double what Credit Suisse spends on tech...