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. Key to nCino's expansion in Canada is that its banking solution is built on the Salesforce platform , fe...
Jan 24, 2022•7 min•Ep. 147
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 mobile banking offerings for both consumers and businesses, the BAN team notes. The editors also run ...
Jan 21, 2022•10 min•Ep. 146
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 (AI) governance, risk and compliance solution for automating model risk management in financial servic...
Jan 20, 2022•24 min•Ep. 145
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 and cards business, as well as some of the digital delivery of banking services," Rajashekara Maiya, vic...
Jan 18, 2022•18 min•Ep. 144
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 team also discusses the launch of a digital wallet solution that provides employees instant access to th...
Jan 14, 2022•13 min•Ep. 143
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 with the prevalence of real-time payment platforms like Venmo and PayPal, will foster innovation for ...
Jan 11, 2022•8 min•Ep. 142
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 drills down on core and cloud industry predictions [JC1] [AM2] and the role microservices will play in fi...
Jan 07, 2022•10 min•Ep. 141
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.”
Jan 03, 2022•21 min•Ep. 140
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.
Dec 22, 2021•17 min•Ep. 139
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 payments market will reach $6.77 billion in one-time card and account "loads" by the end of the year, a...
Dec 17, 2021•20 min•Ep. 138
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 channels. "Digital is here to stay, and that's not really surprising to me when you think about our d...
Dec 16, 2021•14 min•Ep. 137
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.
Dec 13, 2021•20 min•Ep. 136
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.
Dec 10, 2021•19 min•Ep. 135
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.
Dec 10, 2021•19 min•Ep. 134
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-related announcements played a key role in the calls, with automation, cloud and products that offer ...
Dec 03, 2021•20 min•Ep. 133
With some $350 billion in U.S. tax refunds given each year, three fintechs have teamed up for Tax Refund Unlock, a new service that offers consumers ongoing, incremental access to the money they would normally receive as a single payment after filing their annual tax returns. The partnership includes Salt Lake City-based Atomic, a provider of application programming interface (API) payroll integration whose direct deposits payroll offering covers about 75% of the U.S. workforce; Chicago-based fi...
Dec 01, 2021•7 min•Ep. 132
As interest and investment in cryptocurrency spikes this year, banks and financial institutions (FIs) must decide whether and how to become involved, or potentially lose revenue and customers if they opt out. This is the message from Lawrence Pruss, senior vice president at Memphis, Tenn.-based Strategic Resource Management (SRM) in this week's episode of "The Buzz" podcast. SRM is a consulting firm for FIs and others in areas such as digital transformation, operational efficiency and payment te...
Nov 29, 2021•17 min•Ep. 131
Embracing blockchain, RegTech and payments among recommendations. In this week’s episode of “The Buzz” podcast, Anand Subbaraman, Finastra’s senior vice president and general manager of cloud, core and digital banking discusses with Bank Automation News three strategies he believes banks need to embrace: a broader product portfolio, new technologies such as blockchain, and regulatory challenges as a business issue.
Nov 24, 2021•17 min•Ep. 130
Weekly Wrap discussion on how Temenos is accelerating innovation Core and digital banking provider boosts developer access, highlights use cases In this week's "Weekly Wrap" podcast, the Bank Automation News team discusses some of the latest from core and digital banking solutions provider Temenos gleaned from its SCALE developer conference, where the company showcased how it is fostering innovation and bringing new fintech ideas to market faster. In a similar vein, the team addresses the newly ...
Nov 19, 2021•11 min•Ep. 129
This week, the Bank Automation News team discusses what banks are doing to make it possible for customers to invest in cryptocurrency and how financial institutions can leverage blockchain beyond crypto. The BAN team also drills down on the growing popularity of buy now, pay later solutions in Mexico, where BNPL is being marketed as a tool to help the underserved rather than a credit card replacement. Finally, BAN looks at how BMO’s cloud-first strategy is paying off. Find a discussion of these ...
Nov 15, 2021•21 min•Ep. 128
The automation company WorkFusion, which offers a packaged solution to financial institutions and counts the $1.7 trillion Deutsche Bank and the $4.1 billion Carter Bank & Trust among its customers, will focus on shifting its own premise solution to the cloud. In this week’s episode of The Buzz, WorkFusion’s new CEO, Adam Famularo, discusses how the company is building out a software-as-a-service delivery model and offering financial services a cloud-based option, in addition to the managed ...
Nov 05, 2021•11 min•Ep. 126
Artificial intelligence can pick up on patterns humans would ignore — patterns that can indicate crime in cross border payments, for instance. In this week’s episode of the Buzz, Yaron Hazan, vice president of regulatory affairs for cybercrime and big data analytics vendor ThetaRay, breaks down for Bank Automation News how the tool’s machine learning and AI discovered an unusual pattern in cross-border payments processed by a bank. The transactions were labeled as medical tourism but hid a much ...
Oct 25, 2021•20 min•Ep. 125
The latest trend in digital banking customer experience is adding on-screen voice, which allows customers to switch from chat or other self-serve experiences to speaking with a person within a mobile app or digital banking site. In this week’s episode of “The Buzz” podcast, Dan Michaeli, CEO and co-founder of customer service platform Glia, tells Bank Automation News that on-screen voice allows customers to stay within the banking app, webpage or application, and transition to a customer service...
Oct 07, 2021•11 min•Ep. 124
Facebook for years may have topped cybersecurity firm Vade’s “Phishers’ Favorites,” a report of the most impersonated brands in phishing attacks, but the $2 trillion Credit Agricole bank recently edged out the social media giant with 17,755 unique phishing URLs. Facebook’s topple from the No. 1 spot was a surprise, Adrien Gendre, chief product officer at the AI-based cybersecurity firm, tells Bank Automation News in this week’s episode of “The Buzz.” “Facebook has been the top of that list for f...
Sep 28, 2021•10 min•Ep. 123
Payments remain an essentially manual process despite the move toward automation, Steve Kramer, vice president of product at billing and payments platform PayNearMe, explains in this week’s episode of “The Buzz.” In this podcast, Kramer sits down with Bank Automation News to discuss how banks can automate payments to reduce customer friction, including options for digitizing cash and digital wallets. “One of the things we've seen has been a serious growth in the use of wallets,” Kramer tells BAN...
Sep 21, 2021•18 min•Ep. 122
Banks of all levels, from large global firms to credit unions and challenger banks, are expressing interest in modernizing their core, Temenos Americas President Jacqueline White tells Bank Automation News in this week’s episode of “The Buzz” podcast. The reason varies, but core technology is aging, and with it the employees who can code in the older systems, White said. That’s pushing some financial institutions to move to newer, often cloud-based, solutions with less complexity, she added. “A ...
Sep 15, 2021•20 min•Ep. 121
Banks use robotic process automation (RPA) to merge back-end systems after acquisitions and are starting to automate more self-help for customers. That’s in addition to the more common use case of automating the creation of customer accounts, says Jesse McHargue, senior solutions engineer with RPA company Nintex, in this week’s episode of “The Buzz.” “I would also say that we are starting to see more automation efforts around self-help,” McHargue tells Bank Automation News . “Existing customers ...
Sep 07, 2021•13 min•Ep. 120
Bank Automation News sits down with the vendor’s new CIO, Sumit Johar, as well as Ken Mertzel, global head of financial services, to discuss how financial institutions can expand citizen development and the automation opportunities banks may be missing.
Aug 30, 2021•14 min•Ep. 119
In this episode of “The Buzz,” Bank Automation News speaks to Alok Prasad, CEO of startup CashRepublic, about using automation and artificial intelligence (AI) to help communities of color take advantage of banking services. CashRepublic serves the unbanked currently with two Florida locations where customers can cash checks, make wire transfers and other services. It plans to launch an app later this year. A recent FDIC survey showed that 5.4%, or 7.1 million U.S. households, are unbanked, mean...
Aug 27, 2021•13 min•Ep. 118
In this episode of “The Buzz,” Bank Automation News speaks with cybersecurity research analyst Micah Musser of Georgetown University’s Center for Security and Emerging Technologies, and a co-author of the recent report, “ Machine Learning and Cyber Security: Hype and Reality ” about the use of artificial intelligence (AI) and machine learning (ML) in creating sophisticated attacks. AI and ML could be leveraged to coordinate spear-phishing attacks that target specific people, or even to build mal...
Aug 20, 2021•13 min•Ep. 117
