Bank Automation News
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The Definitive Source for Insights and News Surrounding Automation in Financial Services. Formerly Bank Innovation, since 2009 Bank Automation News has been at the forefront of tracking the evolution of digital banking. With the future of innovation pointing to opportunities in automation, we have transitioned the focus of our coverage to continue to provide insights and information that guide..
Bank Automation News
4h ago
KeyBank is using robotic process automation to boost efficiency without hiring more people. The $189 billion bank has about 300 processes automated through (RPA), Michael Reynolds, business technology executive for service digitization, said last month at Bank Automation Summit 2024 in Nashville, Tenn. “Translate that into people. … That’s about the work of 500 people ..read more
Bank Automation News
4h ago
Ally Financial invested in its digital product strategy, which continues to boost customer retention rates. “We have expanded our products and features to deepen customer relationships, including Ally Home and Ally Invest,” Interim Chief Executive Doug Timmerman said today during the bank’s first-quarter earnings call. During the quarter, the bank launched Ally Home Grant ..read more
Bank Automation News
1d ago
BNY Mellon has selected technology services provider Accenture to enhance the bank’s data and analytics services. The bank will use Accenture’s AI and data expertise to introduce new services and create new client experiences, according to an April 15 release. BNY Mellon’s Data and Analytics business provides software and data management to more than 800 ..read more
Bank Automation News
1d ago
U.S. Bank’s investment in payments technology contributed to growth and higher payments revenue in the first quarter. “We are maintaining our through-the-cycle underwriting discipline and seeing the benefits of our multiyear investments in [the] digital, technology and payments ecosystem in the form of strong fee growth across our business lines,” Chief Executive Andrew Cecere said ..read more
Bank Automation News
1d ago
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon makes no secret that his firm is all-in on artificial intelligence. Now, the head of the world’s biggest bank is laying out his vision for the future of money in an AI world. Will you be able to turn to the bank’s future chatbot—let’s call it ChatJPM—and ..read more
Bank Automation News
2d ago
Bank of America’s digital offerings continue to be a draw, as its virtual assistant Erica reached 2 billion user interactions in the first quarter. “Erica continues to drive increased digital engagement, in part because it gives us the ability to deliver important information to clients and answer their questions in real-time,” Jorge Camargo, managing direct ..read more
Bank Automation News
2d ago
Morgan Stanley is looking to the strong merger and acquisition market as an opportunity to launch tech-driven tools that help its bankers and advisers make decisions. The wealth management company wants to use tech to help its bankers take advantage of the M&A wave, Chief Financial Officer Sharon Yeshaya said during the bank’s first-quarter earnings ..read more
Bank Automation News
2d ago
PNC Financial worked to expand to new markets and grow its digital platforms in the first quarter. The bank listed three long-term efforts in its 2023 annual report: Expand the bank’s franchise and digital channels; Leverage technology to create efficiencies that help better serve customers; and Deepen customer relationships by offering superior banking experiences and ..read more
Bank Automation News
3d ago
Goldman Sachs is deploying AI in-house and preparing for financing opportunities in AI development in the market. Developing AI technology requires “infrastructure, power, and all these things require financing to drive scale that’s going to be necessary for people to execute on the investments that they see as important to keep their businesses competitive at ..read more
Bank Automation News
3d ago
AI continues to take the financial services industry by storm, but as the mega-big banks implement internal AI councils, hire chief data officers and invest heavily in the tech, many institutions are still asking “Where do we start our AI journey?” Within banking, 87% of bank decision-makers said that there is increasing pressure from boards ..read more