Author: hjenkins42

Financial services organizations are digitizing and automating more processes to keep up with competition, and intelligent process automation (IPA) — which has been growing in use about 20% across all fields — is now becoming ubiquitous. Market research firm Everest Group in a recent report ranked IPA technology vendors and looked at the market for…

The technologies banks are eyeing for future investments are in flux. What’s on the horizon for banking? Here’s a look at the new tech that bank leaders are considering investing in, according to a recent report by Forrester Research: AI-powered Robotic Process Automation (RPA): RPAs follow a rigid, rule-based automation, but if powered by AI,…

Data for data’s sake is more than just wasted resources; it can also create frightening operational risks for the bank. Banks are known for being data-rich, which sounds promising since data is often touted as the centerpiece of the prototypical open banking environment. But data without a plan can harm more than it helps, Wendy…

Digital transformation budgets are on the rise, with larger companies with greater than $1 million in revenue spending up to 62% more on digital transformation. At smaller organizations, that number is still on the rise at 42%, Ashim Gupta, chief financial officer at robotic process automation (RPA) vendor UiPath, said during Thursday’s earnings call. “That…

Gullibility in untrained and poorly regulated financial markets The Times chronicles how investors are so easily fooled by plausible crooks with a business card and a suit. For Investors, some of whom are supposed to be professionals read lenders. The basis of this is that three fund managers working for a German Insurance company fooled…

Attacks on financial institutions’ websites by bad bots are on the rise, with their penetration tactics growing more sophisticated and challenging to detect. Data security services provider Imperva tracked a spike in advanced bad bot traffic to financial services’ websites during the fourth quarter of 2021 — including a 156% leap in October. “This breed…

Automation vendor UiPath in May added a former Google Cloud executive as its co-chief executive. Robert Enslin became co-CEO on May 16, joining co-founder Daniel Dines as the robotic process automation (RPA) vendor looks to clear $1 billion in revenue for the year. Enslin most recently served as president of cloud sales at Google Cloud,…

The fintech industry talks a lot about bank-fintech and fintech-bank relationships. Everyone in this industry will proudly declare how essential these partnerships are for everyone in the value chain. However, the recent introduction of crypto and decentralized finance (DeFi) is complicating things. How can a traditional financial (TradFi*) institution like a bank align itself with…

JPMorgan is committed to facilitating $2.5 trillion for sustainable green projects or companies investing significantly in green projects — and most global banks have a similar commitment. Rama Variankaval, global head of the Center for Carbon Transition at JPMorgan, revealed the trend during the recent Bank for International Settlement (BIS) Innovation Summit. “I think every…