Category: Trade & Industry

Bank of America is increasing its technology development spend 9% year over year in 2023 as the bank continues to invest in digitization. The $3.1 trillion bank will spend $3.7 billion on technology development in 2023, up from $3.4 billion in 2022, Chief Executive Brian Moynihan said at the Bank of America Securities Financial Services…

Despite strategic investments in cybersecurity, the financial services sector is no fortress.  Attacks are constant regardless of the amount of money and talent poured into the sector, according to “Global Perspectives on Threat Intelligence,” a report released on Monday by cyberthreat intelligence firm and Google subsidiary Mandiant.  In a survey of 1,350 security executives in…

DocuSign announced a restructuring plan via SEC filing Thursday detailing its plans to cut “approximately” 10% of its roughly 7,000 employees as part of a reorganization effort. “The restructuring mainly impacts our worldwide field organization. This action allows us to reshape the company to more effectively position us for profitable growth, while freeing up resources…

The Treasury’s recently launched consultation on cryptoassets has revealed its ambitious plans to regulate the crypto industry. As clarity increases as to the UK’s regulatory trajectory, service providers wishing to access the UK market will need to start considering their regulatory strategies. In this piece, we outline some key considerations for businesses in the sector,…

Payoneer received its e-money license from the U.K. Financial Conduct Authority. The license will enable the digital commerce company to continue serving its U.K.-based customers. Having earned the license, Payoneer now plans to grow its footprint in the U.K. region. Global digital commerce company Payoneer received its e-money license from the U.K. Financial Conduct Authority…

Hey ChatGPT. What’s the buzz around AI? Artificial Intelligence is certainly not new to the finance industry, with credit card fraud detection being an early use of the technology. But the November launch — and subsequent worldwide buzz — over OpenAI’s ChatGPT and its $10 billion investment from Microsoft is firing up the financial services industry…

Alyson Karow, head of small business digital channels at TD Bank, will join the panel “At the Core: Strategies for Addressing Legacy Core Systems” at Bank Automation Summit U.S. 2023 on Thursday, March 2, at 2:15 p.m. ET, at the Westin Charlotte in Charlotte, N.C.  View the full agenda for the Bank Automation Summit U.S.…

The White House in October released its blueprint for an AI Bill of Rights as more technology, data and automated systems hit the market, and guidance becomes more relevant than ever following the controversy around OpenAI’s ChatGPT. “The AI Bill of Rights is super-relevant from here on out,” Chintan Mehta, chief information officer and head…

QUODD has agreed to acquire fellow market data company Xignite. Combined, the two companies will serve more than 2,200 firms, ranging from large banks and wealth management platforms to smaller digital investment tools. Financial terms of the deal were undisclosed. Two market data firms are combining this week, as QUODD Financial Information Services acquires Xignite.…

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot. ebankIT enables banks and credit unions to future-proof their digital strategy and to offer a proactive, interactive, and consistent experience through every banking channel. Features Includes a new tool to anticipate clients’ needs Provides back-office ratings…