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"
Citigroup
Citi slashes 110 applications, overhauls backups: Next up...
Remediating data is a major 2024 priority
AI
“We’re not going to be chasing shiny objects” – What leaders at America’s biggest banks are saying about AI
"We’re starting to see multimodal AI models, and I think one modality that hasn’t been fully exploited yet is that of the time series. This would be using AI to deal with data points attached to a particular timestamp..."
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!
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"
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."
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,