Things we’re reading today include … European banks’ earnings in spotlight after big share price gains | Reuters London banks lose patience with ‘crazy’ French and German workers’ rights (telegraph.co.uk) ECB Is Pushing UK Fintech Revolut to Bolster EU Bank Controls Amid Review – Bloomberg Revolut Gets More Complaints About UK Scams Than Rest of……

With great power, comes great responsibility. It’s a quote from Spiderman, but actually not. It’s from Spiderman’s Uncle Ben. Well, it’s not tbh. It’s from Voltaire … or is it? Wherever it is from, it’s a great phrase. So, here’s a new one. With great power, comes great threat, and that one is from me….…

This week’s main blog discussions include … The CloudStrike issue and its impact on Microsoft I was talking with my 8 year-old son and said that the whole world had just stopped. He asked what do you mean? I replied that everything stopped. Airlines, banks, shops, trains, hospitals and more. He asked what happened? I……

I was talking with my 8 year-old son and said that the whole world had just stopped. He asked what do you mean? I replied that everything stopped. Airlines, banks, shops, trains, hospitals and more. He asked what happened? I said that an update from a company to the core of the computer systems of……

Fifth Third Bank applied legacy practices to its digital account opening process, which has led to regulatory scrutiny.  The Consumer Financial Protection Bureau alleged that the Cincinnati-based bank opened fake accounts in its customers’ names and used a cross-selling strategy to boost its product and services sales, according to a CFPB July 9 release. The…

Banks, airlines and other organizations using Microsoft have reported down systems across the globe as cybersecurity firm CrowdStrike is suffering from the biggest IT outage in history.  “CrowdStrike has identified a cybersecurity issue related to a recent update that has impacted Windows systems globally,” Gokul Mahendran, digital marketing leader at industrial automation company, Barani Generic…

I sometimes think I’ve been sleeping when I discover a treasure trove of documents produced by a major global bank that completely passed me by, so I was delighted to discover these documents from Citibank: Citi GPS: AI in Finance: Bot, Bank & Beyond Artificial Intelligence in Finance: Opportunities & Risks AI Time: Future AI……

Things we’re reading today include … ‘I will kill you’: abusers use 1p bank transfers to send death threats (telegraph.co.uk) Synapse Collapse Raises Questions About a Hot Fintech Business Model – Bloomberg Canary Wharf Group to carve chunks out of HSBC tower after bank leaves | Commercial property | The Guardian Bank of England hit……

Truist cut jobs in core technology and operations following more recent pullbacks on tech at the institution.  “We recently notified technology teammates about certain roles that will be impacted by Truist’s strategic initiatives,” a Truist spokesperson told Bank Automation News.  The latest tech cuts follow these recent upheavals at Truist:  Chief Information Officer Scott Case…

TD Bank has selected AI-solutions company Cohere to test its AI and large language models and improve their reliability.   Cohere’s solutions will help TD improve security, reduce hallucinations of AI models, and provide multilingual and personalized support to bank customers.  “Cohere is a leading vendor of LLMs and related technologies such as retrieval augmented generation,…