This week’s main blog discussions include … It’s all about trust Building upon my blog about Revolut the other day, and their need for a banking license, I’ve been accused many times of coming back to a theme that you can only be a bank if you’re a bank with a license. Why do I……

GM Financial is looking to AI to streamline processes and boost customer experience, Chitra Herle, global chief information officer, said at Auto Finance Summit East 2024.  The captive joins financial institutions including Deutsche Bank, Scotiabank, Citigroup and others integrating AI within their operations.  “The way we approach technology and more digitization and leveraging AI is…

Bank of America aims to add 10 to 20 modules to its virtual reality training program every year to enhance employee training and improve information retention.  Training employees hasn’t changed in many years: it is still done through shoulder-to-shoulder coaching or Zoom or WebEx calls, Mike Wynn, head of academy innovation and design development at…

Things we’re reading today include … Crypto Market Watch: Bitcoin touches $63,000 mark; notable increase in cryptocurrency market cap – BusinessToday Monument Bank latest challenger bank to sell “in a box” tech, as snaps up first client – Tech.eu Spanish bank bosses go head-to-head after BBVA turns hostile | Reuters Traditional banking approach more valued……

For over twenty years, I’ve predicted the end of the ATM, cash and cards. Finally, many of those predictions appear to be coming true. It is certainly true of cash versus card … … and now it is turning out to be true for card versus wallet … Admittedly, the second picture is from a……

Investing platform Robinhood added more than $3.4 billion through its automated customer account transfer service in the first quarter, up 100% quarter over quarter.  The company is seeing high deposit volume “supported by a young customer base gaining share of global wealth,” and expects to meet its multi year 20% deposit growth rate target, Chief…

Jack Henry invested in automation technology, grew its client base and explored AI during its fiscal third quarter, which ended March 31.  The tech provider is working on a cloud-native online deposit and loan account opening solution, Chief Operating Officer and incoming Chief Executive Gregory Adelson said during Jack Henry’s May 8 earnings call.  …

Financial institutions that think about efficiency and growth when considering tech spend can respond quickly to merger and acquisition opportunities, Danny Baker, vice president of market strategy at technology provider Fiserv, told Bank Automation News.  “Successful banks, when they think about their technology investment, they don’t think about efficiency from a penny-pinching [perspective],” he said.…

Monzo has raised another £150 million ($190 million), as the challenger bank looks to expand its presence internationally — particularly in the U.S. The new round comes just two months after Monzo raised £340 million ($425 million), meaning the London-based company has now raised north of $610 million in 2024, and $1.5 billion since its inception nine…

“AI, powered by quantum computing, is going to put financial crime potentially on steroids.” It’s not my quote. It’s actually a comment made by David Duffy, CEO of Virgin Money (now Nationwide) after visiting Microsoft’s headquarters in Seattle. From my side, this is an area that’s been worrying me for a while, ever since the……