Process Management
AI Investments Deliver 136% ROI as Finance Teams Turn to Automation for Growth
Enterprises investing in AI within the financial technology sector are realizing a 136% return on investment, saving $1.36 million for every $1 million invested over three years, according to a global study by Financial Times Longitude for Basware. Despite ongoing economic uncertainty and global trade disruptions, AI adoption is proving to be a direct driver of financial performance. With the global AI market projected to hit $4.8 trillion by 2033, interest in AI-driven efficiencies continues to surge.
AI Revolution in Banking: Most Lag Behind Early Adopters
A recent Boston Consulting Group (BCG) report reveals that while nearly all banks have invested in AI technology, only 25% have fully integrated it into their daily operations, with most still stuck in pilot phases or proof-of-concept stages.
TSB turns to Dynatrace for IT performance monitoring
Source: Dynatrace
Software intelligence company Dynatrace (NYSE: DT) today announced TSB Bank is using the Dynatrace platform to accelerate innovation as it expands digital services for its customers.
Automation Anywhere scoops $290 million in funding
Automation Anywhere, a global leader in Robotic Process Automation (RPA), announced that it has received $290 million in Series B funding at a post money valuation of $6.8 billion.
The funding was led by Salesforce Ventures with additional funding from existing investors, including Softbank Investment Advisers and Goldman Sachs.
Citi Predicts AI Revolution in Finance: Job Automation and Profit Boost
AI will transform finance, boosting profits and automating up to half of jobs, says Citi. The report finds 54% of banking jobs highly automatable and 12% augmentable by AI. AI is in a proof-of-concept stage but is rapidly advancing.
Digital transformation recognised as business imperative by financial IT leaders
Source: Mendix
Mendix, a Siemens business and the global leader in enterprise low-code, released a survey showing that, despite being one of the first sectors to embrace digitalisation, the financial services industry is still mired down with complex processes and inadequate tools that are hindering its growth.
UK MPs demand urgent action on bank IT failures
UK politicians have rounded on the nation's banks over an "unacceptable" level of IT crashes and outages, calling on regulators to take action to improve operational resilience across the sector and to consider the implementation of new rules on cloud service providers.
Generative AI Revolutionizes Banking: Driving Cloud Transition and Reshaping Industry Norms
According to a survey conducted by NTT Data, Generative AI is playing a crucial role in driving the transition of banking applications to the cloud, as reported by nearly two-thirds of industry professionals.
France and New York ink fintech MoU
Regulators in France and New York have struck an agreement that will make it easier for their fintech firms to enter each other's markets.
Securities industry close to adopting APIs – SWIFT and BCG
A new joint SWIFT and Boston Consulting Group (BCG) report reveals that interest in application program interfaces (APIs) is rapidly increasing in the securities servicing industry and firms may leverage the technology to handle diversity of asset types.
JPMorgan Chase under fire from investors over huge tech spending - FT
JPMorgan Chase CEO Jamie Dimon is facing criticism from shareholders for failing to provide enough detail about the bank's mammoth technology spending plans and the decision to launch a digital-only bank in the UK, according to the Financial Times.
Financial firms could generate $140 billion from workforce modernisation - Accenture
Financial services companies in North America could unlock up to US$140 billion in productivity gains and cost savings by 2025 if they employ new technologies that help improve the efficiency and effectiveness of their workforces, according to a recent study by Accenture.
TSB takes further £36 million hit over IT breakdown
The UK's TSB has taken a further £36 million charge related to last year's botched IT upgrade, adding to the £330 million it shelled out to cover the catastrophic bungle last year.
The UK lender is still haunted by its disastrous switch to a new IT platform from parent Banco Sabadell, which led to a prolonged series of outages for million of customers.