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banks

Metro Bank data "deficiencies" saw it overlook £51 billion of transactions

Financial Conduct Authority hits Metro with a fine of almost £17 million in relation to the operation of its Automated Transaction Monitoring System.

"The UK risks falling behind": NatWest AI Chief warns of tech startup "barriers"

"While the UK's startup ecosystem has grown significantly, it lacks the sheer scale and aggressive growth culture that defines Silicon Valley."

These banks are best at AI says a closely watched annual index – but some pooh-pooh the methodology

"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"

AI will impact more than half of finance jobs -- banks to spend $40 billion: Citi

"This process requires an ability to efficiently validate, understand, and store content of documents to correctly implement client instructions"

Citi slashes 110 applications, overhauls backups: Next up...

Remediating data is a major 2024 priority

“We’re not going to be chasing shiny objects” – What leaders at America’s biggest banks are saying about AI

"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..."

Bank’s “Rainbow” programme turns a shade of Big Blue

£100 million to build an application and a "fully functional transactional website"? We'll take it!

ECB cybersecurity test

"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"

Banks need to do better on operational resilience: Basel

"There is still work to do on developing appropriate business continuity and contingency plans and exit procedures where third parties provide critical operations"

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