banks
Financial Conduct Authority hits Metro with a fine of almost £17 million in relation to the operation of its Automated Transaction Monitoring System.
"While the UK's startup ecosystem has grown significantly, it lacks the sheer scale and aggressive growth culture that defines Silicon Valley."
"We are not (yet) seeing evidence of AI maturity playing out in terms of improvements to common efficiency measures, such as cost-to-income (CIR) ratios"
"This process requires an ability to efficiently validate, understand, and store content of documents to correctly implement client instructions"
Remediating data is a major 2024 priority
"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..."
£100 million to build an application and a "fully functional transactional website"? We'll take it!
"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"
"There is still work to do on developing appropriate business continuity and contingency plans and exit procedures where third parties provide critical operations"