Citi is to use machine-learning tools from HighRadius to provide corporate clients with a more streamlined way to match payments received with expected receipts.
With banks the world over exploring the business case for AI and robotic automation, a new report estimates that hundreds of billions of dollars in additional revenue may be up for grabs as the focus moves away from costs savings to income generation.
How can we ensure that Big Data does not make us the prisoners of technology? That's the question posed by Charles Randall, chair of the Financial Conduct Authority and Payment System Regulator at a Reuters Newsmaker event in London.
Swedish digital bank Nordnet has given virtual staffer Amelia her marching orders after an underwhelming employee performance review.
Italy's Banca Carige has outsourced its digital transformation programme to IBM under a $500 million joint venture dubbed Dock.
Wealth management clients visiting a UBS branch in Switzerland will soon be able to get advice from an AI-powered avatar of the bank's chief investment officer.
Financial crime threat detection outfit ThetaRay has completed a Series B fund-raising round of over $30 million.
As they seek to steer a course through the new fintech environment, financial services firms must beware the risks to their business models of both being too passive and too gung-ho in their embrace of new technologies, says a European Banking Authority report.
The Financial Conduct Authority's regulatory sandbox continues to gather momentum, with 29 firms - including some working with crypto-assets - getting the go-ahead to join the initiative's fourth cohort.
Institutional investors plan to use less sell-side research in the coming years, relying more on proprietary in-house work that takes advantage of AI, according to a study commissioned by Thomson Reuters.
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