"How much technology can we do that replaces people?" said Tom Montag, COO of Bank of America, at a conference this week.
According to the coffee company, today's disruption was related to an internal technology update malfunction — not the global WannaCry cyberattack.
SWIFT's chairman calls the service "a direct response to our community’s request for additional services to complement and strengthen existing fraud controls."
"In two years’ time, we expect this to look like a completely different company,” said Ravi Tewari of Guardian Group.
State of Outsourcing Report Reveals that Lines Are Blurring Between Front- and Back-Office Operations
“In a few months, the lever of automation will become more and more embedded and there will be less talk about a front and back office," says Phil Fersht of HfS Research.
Bank of American was honored by Treasury Management International for its "commitment to innovations that are driving a change in client behavior and opportunity."
"How customer insight is used can make a big difference to the customer experience — and ultimately to the profitability of the organization," states the report.
Brexit “offers opportunities to attract new opportunities to our shores,” said Enda Kenny, head of Irish government.
Company president calls the onmi-channel offering "analytics with no limits."
The bank chose this platform to improve its customer service, manage vendors, and implement other complementary solutions.
"Citi bumped the APRs on its card offers by 0.25%, causing the national average APR to rise to an all-time high."
"Our intention is to roll out this network nationally, at least 85% population coverage over the next few months," said CEO Dr. Ronald Walcott.
More than 1,000 bank branches have been shuttered in the past two years, with HSBC closing 27% of its branches and Lloyds closing 14%.
Latin American and Caribbean Exports Projected to Fall Again in 2016 – But Rate of Decline Is Slowing
The rate of export decline is slowing, with this projected 6% fall in 2016 being far less than the 15% plummet in 2015.
"Repealing the last $1.9 billion in Dodd-Frank from the Obama administration might be the first step for Congress in a more comprehensive overhaul of the law."
Nearly three-fourths of those looking to enter the accounting field are concerned that automation will make their jobs obsolete.
No deal is worth it if the transaction leads to some cyber-thief in Russia emptying your bank account a few hours later.
"Financial institutions that deal with hundreds of thousands of clients and huge money transactions daily can greatly benefit," says Marcel Valverde of Unisys.
Nearly three-fourths of CEOs believe that the next three years will be more critical for their industry than the previous 50.
"Succeeding in this new competitive landscape requires a rigorous focus on customer care," says Atul Garg of Protiviti.
BBVA is making AWS its "preferred" cloud infrastructure provider to help migrate its workflows to the provider's system.
Deloitte's $20 million investment in Querétaro, Mexico, will create one of its four major regional services centers.
Accenture has bought a company that it believes can allow it to "help banks make the branch a physical manifestation of the digital experience."
Consumer's vision is what allows a company to understand the deepest needs of the public.
The downtime was reportedly due to Bancolombia's failure to renew a domain.
"The U.K.’s referendum on its E.U. membership is a major issue for us to deal with," says Inga Beale, chief executive of Lloyd's of London.
"We put industry clearly on notice," said Richard Cordray after CFPB's historic fine against Wells Fargo.
Compared to 2015, complaints related to bank accounts are up 26%, jumping to 2,400 complaints per month versus less than 1,900 last year.
For those looking to get into a top U.K. bank, "the wearing of brown shoes with a business suit is generally, though not always, considered unacceptable," says a new study.
AIG), Chubb, and XL Group led the way in term of cyber-insurance premium volume, issuing 22%, 12%, and 11% of the market, respectively.
Although only 21% of Millennials have a financial advisor, a whopping 72% say they are interested in receiving professional guidance.
"Credit demand has remained fairly strong, consistent with robust investment growth," says Michael Pearce of Capital Economics.
Amid questions of its commitment to security, SWIFT seems to be realizing that it must start protecting its reputation along with its system.
Overall, the Edinburgh-based bank spent some £1.4 billion on an IT system for W&G, which it will now try to sell off instead of developing.
SWIFT added two Mumbai-headquartered banks, ICICI Bank and Axis Bank, to its global payments innovation initiative this week.
An optimal digital transformation is something best achieved with patience — cooking little by little — and down-to-earth goals.
Amid record encryption uptake among all companies, those in the financial services industry now have the highest adoption rate at 56%.
The profit downside to PayPal is what investors are focusing on, with the company's shares down more than 9% in intraday trading.
Bitso, Destacame, and Quotanda recently took home $10,000 USD prizes and the chance to participate in the Sibos 2016 conference in Geneva this fall.
"Consumers increasingly prefer using digital channels to purchase insurance," says EXL CEO Rohit Kapoor.
75% of Organizations at Risk of Cyber-Incidents and Financial Services Sector Is Particularly Unprepared
RSA President Amit Yoran says that "organizations need to set their agendas early, build comprehensive strategies, and not wait for a breach to force them into action.”
Los Angeles, CA, April 19, 2016 (Newswire.com) – Management ...
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the financial strength rating ...