Fintech

Big banks and wealth managers are unwilling to sacrifice fee income and make other changes to catch up with their customers' digital demands, fintech leaders said.

In a 17-page memo Monday, the investment expert analyzed the effects of three growing industry trends: the increased use of passive, quantitative and artificial intelligence strategies.

Opening internet cafes and investing in new technology are part of an effort to provide nimble, efficient services, the bank's CFO said in a strategy talk.

A new study shows the budgets spent on the technology increased 67 percent last year alone, with one in 10 banks and other firms reporting spending in excess of $10 million.

The central bank’s internal watchdog last week said it needs to get ready to handle the 'fast death' of a major bank from a cyber attack or rogue trading.

The London company unveiled FusionFabric.cloud at Money 20/20 Europe this week.

The same software that underpins AIEQ’s stock selection system and runs on International Business Machines Corp.’s Watson platform will drive AIIQ.

Banks will need to evolve further and faster to reach consumers in an interconnected, always online world, according to industry leaders.

The London bourse’s last major outage was in 2011, after it moved to a new platform called MillenniumIT.

At American Banker’s Digital Banking conference in Austin, industry leaders wrestled with philosophical questions about artificial intelligence and the rapidly evolving expectations of customers.