Author: hjenkins42

NEW YORK CITY — Citi is blazing a path toward comprehensive AI-based credit management. One of the nation’s largest banks, $2.3 trillion Citi has leveraged AI for everything from document handling and back-office process automation to sanctions and capital management. Now, Citi will strengthen its AI capabilities for consumer credit management and customer experience, sorting…

Broadcom Inc. agreed to buy cloud-computing company VMware Inc. for about $61 billion in one of the largest technology deals of all time, turning the chipmaker into a bigger force in software. VMware shareholders can choose to receive either $142.50 in cash or 0.2520 shares of Broadcom stock for each VMware share, according to a…

Diversity, equity and inclusion (DEI) efforts at financial institutions need to go beyond a checkmark on a list of to-dos to become part of a lender’s DNA. At $1.94 trillion Wells Fargo, “from leadership, I think we have the commitment, but I think we all are, admittedly, still in that check-the-box phase,” Nathan Bricklin, head…

Accountancy Europe on assurance of EU ESG disclosures Accountancy Europe has released an interesting discussion paper on sustainability assurance under the proposed Corporate Sustainability Reporting Directive (CSRD). The CSRD introduces an EU-wide requirement for limited assurance on sustainability information, with the end goal to move to reasonable assurance in the longer term. Assurance is one…

We’ve seen some bad news in the tech sector lately. YCombinator is asking its portfolio founders to “plan for the worst” and prepare for a downturn and Klarna is laying off 10% of its employees. Headlines such as, “Tech’s High-Flying Startup Scene Gets a Crushing Reality Check” aren’t helping consumer or investor sentiment, either. It…

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Financial institutions are leveraging Amazon Web Services’ (AWS) machine learning (ML) and artificial intelligence (AI) tools to improve operations and customer experience. FIs are deploying tools for facial recognition, natural language processing and customer interactions, Alvin Huang, a capital markets specialist in business development and financial services at AWS, said Tuesday during the AWS Financial…

Chimney announced partnerships with two banks, Farmers & Merchants Bank and Northwest Bank, that will deploy Chimney’s embeddable financial tools to boost customer engagement. Formerly known as Signal Intent, Chimney won Best of Show at FinovateSpring in 2021. Courtesy of this week’s agreements, Chimney now boasts a total of 15 bank partnerships. In a bid…

Bryce Elliott, Truist’s chief information officer for wholesale and enterprise payments, will join the panel “In the Air: How to Develop for the Cloud in Order to Enable Technology Strategy” on Monday, Sept. 19, at 10 a.m. UTC at Bank Automation Summit Fall 2022. The summit will be held Sept. 19-20 at the Hyatt Olive…