DTCC Survey: Certain Post-Trade Processing Costs for Cash Securities at Broker-Dealers May be Reduced by 25% via Automation

November 19, 2020 @ 10:07 pm By Omar Faridi |

New York-based Depository Trust & Clearing Corporation (DTCC), a post-trade financial services firm offering clearing and settlement services to the capital markets, recently published the findings of a survey of nine major broker-dealer companies. The survey’s results revealed that various post-trade processing costs for cash… Read More

Nasdaq CEO Adena Friedman Says COVID-19 Is “Fundamentally Accelerating” Adoption of Fintech and Software as a Service Solutions

November 9, 2020 @ 12:40 pm By Omar Faridi |

Adena Friedman, CEO at Nasdaq, the world’s second-largest stock exchange with a market cap of around $17 trillion, notes that the COVID-19 pandemic is “fundamentally accelerating” the adoption of Software-as-a-Service (SaaS) solutions. According to Friedman, the current environment has also led to the increased usage… Read More

A Robot Factory or Digital Workers Powered by Machine Learning to Be Introduced by Russia’s VTB Bank to Read, Comprehend, Process Financial Documents

July 22, 2020 @ 11:34 pm By Omar Faridi |

VTB Bank, a leading Russian universal bank with over $6 billion in annual revenue, has introduced a “robot factory.” The bank, which has more than 77,000 workers, says it’s planning to introduce 250 “digital employees” off the production line in the coming years. VTB Bank’s… Read More

Russia’s Largest Bank Sberbank and Microsoft to Use Artificial Intelligence for Robotic Cash Handling

October 18, 2019 @ 8:38 pm By Omar Faridi |

Sberbank Rossii PAO (MCX:SBER) and Microsoft Research (MSR) announced a joint initiative to explore the use of Microsoft’s artificial intelligence (AI) solutions in robotics. The project involves training robots to interact with real-world objects in the same way that humans do. Researchers at Sberbank will… Read More

Report: Corporate Treasurers Say Cloud Computing, plus AI & Big Data Will Be Most Important Tech Advancement to Impact their Industry

October 13, 2019 @ 9:33 am By Omar Faridi |

Corporate treasurers believe that advancements in cloud computing will be one of the most important technological developments to impact their industry in the coming years. Big Data analytics and artificial intelligence (AI) are also expected to improve standard business processes. The Deutsche Bank-supported Economist Intelligence… Read More

Cloudvirga Raises $15 Million In Series B

April 2, 2017 @ 12:26 pm By Jonathan Nieh |

Last Monday, Fintech company cloudvirga, developer of a cloud-based mortgage automation platform, announced it raised $15 Million is Series B funding. Cloudvirga’s trademarked intelligent Mortgage Platform (iMP) automates the entire mortgage workflow process between borrowers and lenders. Central to cloudvirga’s success is its ability to maintain strict… Read More

Read more in: Fintech, Real Estate | Tagged automation, cloud, cloudvirga, incenter, mortgage, series b

London Financial Services Summit: “Institutions Must Adapt or Risk Obsolescence”

December 29, 2016 @ 11:32 pm By Jessica Pham |

Tapestry Networks and Ernst & Young (EY) published a report this month focused on global revolutionary changes that will affect the financial services sector. The full version of the report is below. The report is a result of the October 5-6, 2016 Financial Services Leadership Summit in… Read More