BNY is unifying products and solutions on its platform to ensure its investment capabilities are readily available to clients in one place.   With BNY’s capabilities all in one place, the financial institution has created a more streamlined and cost-effective tool for wealth advisers that brings together Pershing, investment management solutions and BNY Mellon Advisors,…

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I travel the world a lot and am amazed about the wave of changes technology has introduced into banking. In almost every country I visit, fintech has grown from an ember to a burner, and almost every country is being transformed. From Taiwan to Timbuktu, everything is changing. Therefore, just to give one more example……

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I remember ten years ago when fintech was emerging from under the hood and challenger banks become a new phrase. Most of the bankers I spoke to back then said they would never be really challenging. Ten years later, the situation is rather different. Revolut has over 40 million customers and is profitable; Monzo has……

This week’s main blog discussions include … The CIO managing a $17 billion budget and $10 trillion of transactions PER DAY I just spotted a great article about JPMorgan’s CIO who manages a $17 billion budget (last time I looked, it was $11 billion). That sort of budget makes most fintechs look like small fry….…

Wells Fargo is improving its customer experience with investments in branch technology and enhanced self-service options.   “We continue to optimize and invest in our branch network,” Wells Fargo Chief Executive Charlie Scharf said during today’s second-quarter earnings call. “We are accelerating our efforts to refurbish our branches, completing 296 during the first half of…

JPMorganChase has achieved straight-through processing to share loan data and improve efficiencies, reduce errors and delays in loan processing.  Straight-through processing (STP) allows JPMorgan to digitize all information flowed on Versana, a syndicated loan platform, ranging from emails to faxes. This gives stakeholders access to the information, reduces human error and saves resources, Joseph Ferraiolo, head…

German bank Solaris SE faces financial penalties if it doesn’t meet deadlines for fixing controls, after failing to do so for years, according to Bloomberg. Solaris hasn’t fully remedied issues it was ordered to address in 2022, and new problems have since cropped up too, the country’s financial watchdog BaFin said in a statement on…

Citigroup’s multiyear modernization strategy saw progress in the second quarter as the bank’s tech investments proved more necessary after the Federal Reserve Board penalized the bank this week.   “We have made meaningful progress in executing our transformation and simplifying our multiyear undertaking,” Chief Executive Jane Fraser said during the $2.4 trillion bank’s earnings call…