By the Numbers: Automation, data analytics draw banks to the cloud
Banks have yet to capitalize on cloud technology but agree that automation is the most compelling argument for doing so....
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RBC sees 7.9% increase in computer-related expenses
The Royal Bank of Canada saw a 7.9% year-over-year increase in computer rental and maintenance costs, spending $332 million during...
AI-based risk modeling not a guarantee against recessionary impacts
NEW YORK CITY — The use of artificial intelligence-based risk modeling is far from foolproof in a recessionary environment. Image...
Scotiabank’s Scene+ mobile app adds another 200K users
Scotiabank's Scene+ loyalty rewards program and mobile app added 200,000 new members since January, helping to drive consumer use of...
Lenders to start acquiring fintechs to form ‘super apps’
Lenders may soon have the opportunity to acquire fintechs at depressed valuations as economic conditions decline and fintech operational costs...
BMO converting to cloud-based risk management analytics
Bank of Montreal will leverage a proprietary, cloud-based, risk management analytics solution to forecast loan loss scenarios faster and with...
Broadcom to buy VMware for $61 billion in record tech deal
Broadcom Inc. agreed to buy cloud-computing company VMware Inc. for about $61 billion in one of the largest technology deals...
How 3 FIs are leveraging Amazon Web Services to improve business
Financial institutions are leveraging Amazon Web Services’ (AWS) machine learning (ML) and artificial intelligence (AI) tools to improve operations and...
Transactions: Scienaptic AI, Teslar Software continue run of community bank wins
Swiss core provider Temenos will upgrade digital banking at Canadian Tire Bank, the companies announced Wednesday. Temenos, one of the...
JPMorgan Chase allocates nearly half of infrastructure spend to cloud
Half of JPMorgan Chase’s total infrastructure spend is on the cloud, the bank announced Monday during its 2022 Investor Day....
