Financial services technology came a long way in 2024 with generative AI and AI advancements, and as FIs implemented new tech, they faced other challenges, from outages to data breaches and operational changes. 

The following are the most read stories of 2024:

1. Bank of America, JPM, TD and Visa affected by global CrowdStrike outages

Financial institutions, airlines and other industries were affected by July’s global outage of cybersecurity firm CrowdStrike. Bank of America, JPMorgan, TD Bank, Visa and Wells Fargo all reported outages during the blip.  

2. Truist parts ways with another CIO

Former Truist Financial Chief Information Officer Scott Case left the Charlotte, N.C.-based bank in April. His departure followed the exits of other technology leaders at the bank, including former Chief Information and Experience Officer Ken Meyer and former Chief Information Officer of Wholesale and Enterprise Functions Bryce Elliott.  

3. What Bank of America is doing for customers after data breach

Bank of America reported in February that one of its third-party vendors, Infosys McCamish Solution, experienced a data breach that affected more than 57,000 of its clients. The bank’s remediation efforts included a two-year membership in an identity protection product from Experian.  

4. Inside look: Synchrony’s AI training strategy

Synchrony Financial invested in its AI and automation training in 2024 to ensure its team is equipped with skills in cybersecurity, software engineering and UX design. 

5. Why JPMorgan’s chief data and analytics officer sits on operating committee

JPMorgan Chase Chief Data and Analytics Officer Teresa Heitsenrether serves on the bank’s operating committee to embed data and analytics and the bank’s use of AI into the decision-making side of the business operations.  

Register here for early-bird pricing for Bank Automation Summit 2025, taking place March 3-4 in Nashville, Tenn. View the full event agenda here.