Bank of America continued to see digital adoption grow during the second quarter while keeping up with the digital needs of clients by looking to AI.   “AI has moved from cost savings ideas to enhancing the quality of our customer interactions,” Chief Executive Brian Moynihan said during today’s second-quarter earnings call.   The bank…

Morgan Stanley is using AI to improve efficiency and deepen the relationship between its advisers and customers.  The bank is deploying technology to aid growth across its three divisions — investment banking, wealth management and institutional securities — Chief Financial Officer Sharon Yeshaya said during Morgan Stanley’s second-quarter earnings call today.  “AI tools are helping…

EverBank considers strong platforms and API-first integrations when selecting third-party vendors to modernize operations.   “If we build good platforms that are API-first, we can plug in the best of the best [into the bank],” Lindsay Lawrence, executive vice president and chief operating officer, told Bank Automation News. But it’s not just about ease of…

I’m sure you’ve all noticed that artificial intelligence (AI) is the big news of the last year, but have you been watching Nvidia, the chip maker that drives AI? It’s now bigger than Intel and about to exceed Microsoft and Apple in market valuation. Here’s an analyst’s view from Barrons: Nvidia Has More Than Doubled……

Things we’re reading today include … What is open banking? | Mastercard Newsroom Lloyds Bank sued for discrimination by employees disciplined over pro-Palestine views | The Independent Singapore Banks Ditch One-Time Passwords (darkreading.com) Goldman Sachs’ profits more than double to $3bn as deals rebound (ft.com) Google eyes $23bn acquisition of Wiz in major cybersecurity expansion……

Goldman Sachs is recognizing opportunities for AI-related financing activities as companies continue to adopt the technology.  “Recently, our board of directors spent a week in Silicon Valley, where we spoke with the CEOs of many of the leading institutions at the cutting edge of technology and AI, and we all left with a sense of…

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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