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Tech saves Santander $53M in Q1 | Bank Automation News
Santander Bank saved 50 million euros ($53.6 million) in the first quarter as the bank leaned into its tech investments for added efficiency. “Our proprietary and unique global technology capabilities have already generated 63 basis points in efficiency savings so far [this year],” Santander Chief Executive Hector Grisi said today during the Madrid-based bank’s Q1
BNP Paribas, Deutsche Bank embrace cost discipline in Q1 | Bank Automation News
European banks BNP Paribas and Deutsche Bank plan to pull back on expenses this year as they lean into their tech investments. “We are maintaining our cost discipline,” Deutsche Bank Chief Executive Christian Sewing said during the $578 billion bank’s first-quarter earnings call April 25. “2023 marked the peak of our investments, but we continue
Ally launches digital products in first quarter | Bank Automation News
Ally Financial invested in its digital product strategy, which continues to boost customer retention rates. “We have expanded our products and features to deepen customer relationships, including Ally Home and Ally Invest,” Interim Chief Executive Doug Timmerman said today during the bank’s first-quarter earnings call. During the quarter, the bank launched Ally Home Grant,
Jamie Dimon has a new vision for money in an AI world | Bank Automation News
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon makes no secret that his firm is all-in on artificial intelligence. Now, the head of the world’s biggest bank is laying out his vision for the future of money in an AI world. Will you be able to turn to the bank’s future chatbot—let’s call it ChatJPM—and
U.S. Bank’s investment in payments tech drives growth | Bank Automation News
U.S. Bank’s investment in payments technology contributed to growth and higher payments revenue in the first quarter. "We are maintaining our through-the-cycle underwriting discipline and seeing the benefits of our multiyear investments in [the] digital, technology and payments ecosystem in the form of strong fee growth across our business lines,” Chief Executive Andrew Cecere said
PNC invests in retail banking technology platform | Bank Automation News
PNC Financial worked to expand to new markets and grow its digital platforms in the first quarter. The bank listed three long-term efforts in its 2023 annual report: Expand the bank's franchise and digital channels; Leverage technology to create efficiencies that help better serve customers; and Deepen customer relationships by offering superior banking experiences and
Podcast: Cloud migration ‘a must’ for FIs | Bank Automation News
Financial institutions are prioritizing cloud migration as cost reduction and innovation continue to be top of mind. “We definitely see cloud migration as a must,” Rodrigo Silva, regional director for the Americas at Temenos, tells Bank Automation News on this episode of “The Buzz” podcast. According to the tech provider’s annual economics report, set for release on April
76% of EU banks to up tech spend to comply with new regulation | Bank Automation News
European banks are preparing their tech stacks to comply with Instant Payment Regulation, which were set in motion on April 8. The European Parliament and European Council, which provide the foundation for the single euro payments area (SEPA), published the Instant Payment Regulation March 14. The regulation states that European banks must be able to
Truist parts ways with another CIO | Bank Automation News
The shakeup at Truist Financial continues. Truist Financial Chief Information Officer Scott Case has left the Charlotte, N.C.-based bank, a source close to the matter told Bank Automation News. Case took on the role of enterprise CIO at Truist in December 2019, according to his LinkedIn profile. He joined Truist through the SunTrust-BB&T merger. He