The Buzz

That led to volatility in the system that became even more pronounced when the “Great Resignation” hit, Sam Bobley, founder and CEO of intelligent document automation company Ocrolus, tells Bank Automation News in this episode of “The Buzz.” “The Great Resignation” is what pundits are calling the high resignation rates and labor shortages that businesses have been facing since 2021. “Lenders had m...

In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News team dives into the latest round of core provider earnings along with a look at a new acquisition for workflow automation vendor Nintex.   Temenos and FIS released their Q4 2021 earnings this week, revealing tech revenue growth and new expansion efforts. Temenos touted its U.S. expansion, mentioning partnerships with banki...

Core provider Jack Henry’s open banking strategy will facilitate a fintech-enabled digital ecosystem for community banks as a response to a widespread shift in the financial services landscape.   The fintech disruptions and digital innovation that have caused sweeping changes in financial services have pushed local and regional banks to adjust. As community banks manage the shifting landscape, the...

In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News team discusses the big trend this week in banking technology: the shift to cloud services. The cloud-focused news started Monday, with news that Fiserv will acquire cloud-native digital banking solution Finxact. This is the first true cloud-native core banking solution running on Amazon Web Services (AWS) for Fiserv, said...

Truist Financial was formed through the 2019 merger of BB&T and SunTrust — the largest bank merger in the past 20 years — and is the first substantial merger with a full digital component. The Charlotte, N.C.-based Truist faced the added challenge of merging just before the pandemic started, Ken Meyer, Truist’s chief information officer of consumer technology, says in this episode of “The Buzz...

Conversational artificial intelligence (AI), such as chatbots and virtual assistants, should serve as a facilitator of enhanced communications between financial institutions and their customers rather than functioning as tech for tech’s sake.   Key to a successful conversational AI framework is the ability to “orchestrate” a conversation between an agent and customer, providing context for both pa...

In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News team looks at a new type of ransomware attack on a U.S. bank, along with an FBI warning cautioning consumers on quick response (QR) code payments.   White Rabbit, a new family of ransomware, attacked a U.S. bank in December 2021. While details are lacking, the attack could have a connection to Fin8, a group of financially...

Banks must fully commit to the cloud in their digital banking strategies while also using cloud adoption as a rallying point for end-to-end automation, Paul Taylor, chief executive of cloud core provider Thought Machine, tells Bank Automation News in this episode of “The Buzz” podcast.  In the wake of COVID-19, many banks shifted their internal and external processes to a cloud-enabled digital for...

In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News editors drill down on technology spending at banks. After the COVID-19 pandemic led to a holding pattern for IT budgets in 2020 and the first half of 2021, tech spending is on the rise again with large banks increasing or planning to increase technology spend. The $432.4 billion Capital One, for example, revealed that its...

The buy now, pay later industry (BNPL) provides an innovation rail for alternative lending processes and real-time fund access, but it is also opening doors for advanced fraud techniques.   Synthetic fraud poses an especially dangerous risk, Featurespace founder Dave Excell tells Bank Automation News in this episode of “The Buzz” podcast. Featurespace uses machine learning and behavioral analysis...

The $653.6 billion Canadian Imperial Bank of Commerce on Jan. 13 became the latest of the Bix Six Canadian banks to select the nCino Bank Operating System for its business clients.    Half of Canada's largest banks now use the cloud banking and loan automation firm, Cameron Sterrett, managing director of nCino's Canadian business, tells Bank Automation News in this episode of "The Buzz" podcast.  ...

The BAN team covers JP Morgan Chase's report that revealed the $3.7 trillion bank is increasing its 2022 technology spend by 20% to $14.4 billion to improve cloud capabilities, data centers, data and analytics, and digital consumer experience.   Meanwhile, Wells Fargo has seen a nearly 50% year-over-year increase in digital payments through Zelle, and the $1.95 trillion bank plans to build out its...

The most common mistake that companies make with the data when de-biasing artificial intelligence models is to remove obvious indicators such as race, gender and age, and then assume they’ve eliminated bias, David Van Bruwaene tells Bank Automation News in this episode of “The Buzz” podcast.  Van Bruwaene is the founder and CEO of Canada-based Fairly. AI, which provides an artificial intelligence...

Bank Automation News digs into a study from digital banking solutions provider Infosys Finacle that surveyed more than 1,165 executives at banks of all types regarding their use of retail digital banking technology.    "Almost 36% of bankers believe that the big tech players like Apple and Google or leading consumer technology companies like Amazon will lead the way in terms of payments business a...

In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News team talks findings in Microsoft’s Work Trend Index Frontline Workers survey, which found that more than 40% of the global workforce plans on quitting their job this year. The survey also revealed that two-thirds of banking and financial services employees feel supported and pleased about workplace technology.   The BAN te...

Financial institutions should prepare for widespread use of real-time payments in the coming months, as well as the resulting security risks, group president of enterprise banking at core provider Computer Services Inc. (CSI) shares in this episode of “The Buzz” podcast.  CSI’s Giovanni Mastronardi discusses how the Federal Reserve-backed instant Automated Clearing House (ACH) transactions, along...

In this Weekly Wrap episode of "The Buzz" podcast, the Bank Automation News editors unpack  what could become a trend in regulatory fines in 2022 as well as predictions for core and cloud banking.     The BAN team addresses one automation company's prediction that repeat errors stemming from spreadsheets and other manual process could soon see much bigger fines from U.S. regulators. The team also...

In this episode of “The Buzz, Bank Automation News speaks with financial services and technology attorney Josias “Joe” Dewey on automating financial contracts. A software developer who is also a partner at the international law firm Holland & Knight, Dewey helps banks automate loan and financial documents. He also co-authored “The Blockchain: A Guide for Legal and Business Professionals.”

Banks and fintechs implementing open application programming interface (API) builds should look first to security measures as early security and authentication checks prevent up to 80% of risk vectors in API frameworks, Jason Harmon, chief technology officer at API design and development company Stoplight, tells Bank Automation News in this episode of “The Buzz” podcast.

In this Weekly Wrap episode of "The Buzz" podcast, the Bank Automation News editors discuss HSBC and IBM's use of distributed ledger technology to conduct commercial central bank digital currency (CBDC) transactions, including foreign exchange settlements.    The BAN team also addresses a prediction from the Canadian Prepaid Providers Organization and Aite-Novarica Group that the Canadian prepaid...

Digital banking usage is up at Citizens, with 90% of consumers and 86% of businesses reporting that they use digital channels for their banking needs — a significant increase over usage during COVID-19 lockdowns, says Beth Johnson, chief experience officer at Citizens Financial Group , in this episode of "The Buzz" podcast.   Last year, 85% of consumers and 71% of businesses reported using digital...

SentiLink co-founder and CEO Naftali Harris tells Bank Automation News how the rise in automated payments adds gravity to the identity verification and fraud prevention ecosystem, details automated fraud prevention processes, and offers predictions for what’s next for fraud in 2022.

The COVID-19 pandemic and subsequent shut down has led to a significant increase among consumers adopting digital technologies to interact with the world. Now is an especially exciting time for financial services, Vince Passione, CEO of lending platform and online marketplace LendKey, tells Bank Automation News in this episode of "The Buzz” podcast.

In this week’s episode of “The Buzz” podcast, the Bank Automation News editors unpack the recent earnings report for robotic process automation company UiPath, and its plans for expanding its solution in a discussion on why UiPath might have mergers and acquisitions ahead.

Banks turn to the cloud to build new services, leverage infrastructure. In this week’s podcast the Bank Automation News editors discuss the technology lessons that can be gleaned from this week’s earnings calls from the “Big Six” Canadian banks. The Royal Bank of Canada, Scotiabank, National Bank of Canada, Bank of Montreal and the Canadian Imperial Bank of Commerce reported earnings. Technology-r...