Banks
Banks hate data lineage, but regulators keep demanding it
Benchmarking: As firms automate regulatory reporting, a key BCBS 239 requirement is falling behind, raising questions about how much lineage banks really need.
As AI pressures mount, banks split on how to handle staffing
Benchmarking: Over the next 12 months, almost a third of G-Sib respondents said they plan to decrease headcount in their data function.
Treasury market urged to beef up operational resilience plans
NY Fed panel warns about impact of AI and reliance on critical third parties.
EY and Microsoft partner to bring agentic AI to risk management
The two firms are part of a deal to bring agentic AI processes to core operations like lending, servicing and risk, starting at Eurobank.
S&P shutters NMRF solution amid audit questions
Vendors face adverse economics due to a low number of IMA banks and prospects of regulatory easing.
Barclays carefully studying stablecoins
CEO CS Venkatakrishnan called the class of digital assets “broad and fascinating,” but urged peers to consider how it fits into the current banking deposit framework.
Bank of America’s GenAI plan wants to avoid ‘sins of the past’
Waters Wrap: Anthony spoke with BofA’s head of platform and head of technology to discuss how the bank is exploring new forms of AI while reducing tech debt and growing interoperability.
New GPU indexes to provide transparency into AI compute
Silicon Data, a company backed by DRW and Jump Trading, has launched its H100 and A100 indexes, providing transparency into the economics of AI compute.
Expero sharpens focus on financial clients
After 20 years of delivering software, AI tools and digital UXs across industries, Expero is leaving its jack-of-all-trades strategy, aiming to become a master of one.
The TNS–Radianz deal hints at underlying issues in trader voice
Waters Wrap: As part of its cost-cutting program, BT shipped its Radianz unit to TNS, but the deal didn’t include its Trading & Command trader voice property. Anthony finds that interesting.
DORA delay leaves EU banks fighting for their audit rights
The regulation requires firms to expand scrutiny of critical vendors that haven’t yet been identified.
Wall Street hesitates on synthetic data as AI push gathers steam
Deutsche Bank and JP Morgan have differing opinions on the use of synthetic data to train LLMs.
Halftime review: How top banks and asset managers are tackling projects beyond AI
Waters Wrap: Anthony highlights eight projects that aren’t centered around AI at some of the largest banks and asset managers.
Swedish startup offers European cloud alternative for US-skeptic firms
As European firms look for more homegrown cloud and AI offerings, Evroc is hoping to disrupt the US Big Tech providers across the pond.
Speakerbus ceases operations amid financial turmoil
Sources say customers were recently notified that the trader voice vendor was preparing to file for administration and would no longer be operational.
‘AI for everyone, everywhere, with everything’
Waters Wrap: Anthony looks at some interesting projects involving machine learning, generative AI, and agentic AI from the last year.
Generative AI brings testing times for modelers
Flagstar’s lead model validator offers some tips for safely integrating LLMs into risk models.
Messaging’s chameleon: The changing faces and use cases of ISO 20022
The standard is being enhanced beyond its core payments messaging function to be adopted for new business needs.
The industry is not ready for what’s around the corner
Waters Wrap: As cloud usage and AI capabilities continue to evolve (and costs go up), Anthony believes the fintech industry may face a similar predicament to the one facing journalism today.
Overbond’s demise hints at cloud-cost complexities
The fixed-income analytics platform provider shuttered after failing to find new funding or a merger partner as costs for its serverless cloud infrastructure “ballooned.”
Agentic AI comes to Bloomberg Terminal via Anthropic protocol
The data giant’s ubiquitous terminal has been slowly opening up for years, but its latest enhancement represents a forward leap in what CTO Shawn Edwards calls, “the way we should talk to the world.”