Banking
"We've got over 11,000 regulatory reports" lamented CFO Mark Mayer. "We're talking about ensuring that the data that we capture at trade entry is the data that's required to ultimately show up on these various regulatory reports..."
A pair of banks with radically different histories share details of the tools, tech and philosophies fuelling their digital journeys.
Network configuration, CA and SWIFT issues, and certificate expiration blamed for a series of RTGS outages the past year.
"One of the most rapidly growing expense line items" -- with Zscaler and CyberArk among the vendors getting paid.
"AI has moved from cost-savings ideas to enhancing the quality of our customer interactions" says CEO.
CEO Robin Vince earlier cautioned BNY had "operated in a way that was vertically integrated and became siloed..."
Thanks to Artificial Intelligence and $17 billion on technology spending annually, it will not be the same when he leaves.
Cloud-based ChatGPT 3.5 turbo as the underlying model, with NeuralSeek-powered RAG in support.
The challenger bank has made big investments in tech and is committed to building its own native systems to own every part of its stack