ING Bank invested in its digital infrastructure in 2023 and expects to reap the benefits of those tech advancements in 2024 as the bank plans to spend less on technology this year.  The $967 billion, Netherlands-based bank can spend less on tech because it has optimized and automated its know-your-customer processes, reduced front office staff…

BNP Paribas is looking to use AI and gen AI for revenue generation and cost optimization.  “In 2023, we continued to invest in technology and in artificial intelligence,” Chief Executive Jean-Laurent Bonnafe said during the company’s fourth-quarter earnings call today.  Investments made in AI and technology will help in “revenue generation, because we will have…

Deutsche Bank is reducing costs bankwide through automation and technology efforts.  The $578 billion, Germany-based bank is using simplified workflows and automation on the front end and application decommissioning and operation model improvements on the back end, Chief Executive Christian Sewing said during today’s Q4 earnings call.   Through the automation and technology efforts, the…

I got this sign the other day, and it really resonated. I guess it resonated as, for nearly all of my life, I’ve had wants. It’s a terrible disease, as needs is far less serious. Wants is that there’s always something you want but cannot have. As a result, you work as hard as you……

Things we’re reading today include: How HSBC became the world’s most accident-prone bank (telegraph.co.uk) Shares plunge for saviour of failed Signature Bank (ft.com) How bots and short sellers brought down First Republic Bank | Daily Mail Online Augmentum CEO Tim Levene: ‘A lot of Fintech AI is a bubble’ (citywire.com) UBS-backed fintech Fnality eyes US……

Buy now, pay later provider Sunbit has raised $310 million from Citi and Ares Management credit funds for a debt warehouse facility.  The company aims to use the money to deepen its penetration in automotive, dental and health care industries, co-founder and Chief Executive Arad Levertov told Bank Automation News. “We are in 10,000 car…

Google and Microsoft continued to roll out AI and generative AI-driven products as cloud revenue increased at both companies to close out 2023.  Cloud revenue at Google reached $9 billion in Q4, up 26% year over year, according to its earnings release.  Google Cloud “saw accelerated growth, driven by our gen AI and product leadership,”…

Luther Liang, director of product at Grasshopper Bank, will speak at Bank Automation Summit U.S. 2024 about new approaches to robotic process automation. Bank Automation Summit U.S. 2024 takes place March 18-19 at the Omni Nashville in Nashville, Tenn., and brings together industry experts to discuss innovation in AI, RPA, automation, machine learning and more. …

Metronome, a startup that helps software companies offer usage-based billing, has raised $43 million in a Series B funding round led by NEA. Existing backers Andreessen Horowitz and General Catalyst also participated in the financing, which brings its total amount raised to over $78 million since its 2019 inception.  Founded by Dropbox alums Kevin Liu…

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