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.
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.
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.
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.
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.
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.
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.
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.
