This week's tech news, filtered for financial services execs

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December 6

This week’s edition is all about getting personal.  

One of the promises of artificial intelligence and automation is that they make it easier to enable customized user experiences, at a lower cost. That framework is on display in several of this week’s stories, including features on Wells Fargo’s new business banking tool or National Australia Bank’s customer service solution.  

Each of these pieces demonstrates how big financial institutions can use technology to become more customer-centric. After all, as JPMorgan’s chief information officer put it earlier this year, “The future of banking really is personalization.”  

Let’s dive in: 

November 29

The holidays tend to bring good food, time with loved ones, special moments – and financial fraud. ‘Tis the season for scams, spoofs, and swindles.  

Several stories in this week’s edition highlight tales of how bad actors may try to wreak havoc, as well as the tech-enabled preventative measures that financial institutions can take to block them.  

Let’s dive in: 

November 22

With Thanksgiving on the horizon for our US readers, this week’s edition spotlights giving, abundance, and relationships.

From the story of how a freshly-funded neobank is serving its target audience with tailored features, to an overview on the bounty of fintechs ripe for M&A, and a perspective on the shifting interconnection between banks and merchants, we have a feast of interesting pieces for you.  

Let’s dive in.

November 15

Several of this week’s stories spotlight how banks are making big investments to earn goodwill with customers and stand out from their competitors.

From Capital One’s travel spending or Standard Chartered’s fresh fintech partnership, to JPMorgan’s commitment to “accept any payment, anytime, anywhere,” the features in this week’s edition spotlight the ways financial firms are willing to work to create “win-win” situations.  

Let’s dive in.  

November 8

Happy election day to our US readers. Make sure to get out there and vote, if you haven’t already! 

Fittingly, several stories in this week’s edition focus on the power of people: Even in this age of digital disruption, there’s huge value in adding a human touch to new products and services. People and technology are both more powerful when they work in tandem, whether for portfolio management, financial advice, or data wrangling.   

Let’s dive in: 

November 1

This week’s edition highlights how important external partnerships can be for launching new features or maintaining the highest technology standards within a legacy financial institution. From BNY Mellon’s cybersecurity stance to NatWest’s embrace of new payments options, the most innovative offerings often require teamwork between firms.  

October 25

This week’s edition underscores the role that company culture plays in building innovative products.  

Two of our featured stories touch on talent – with tips from a Visa exec on hiring underrepresented engineers and advice from Goldman Sachs’ CIO on keeping developers excited about their work – while another spotlights a tech-enabled workaround for easier partnerships between fintechs and incumbent banks. 

Diverse, motivated, and collaborative teams: A recipe for inventive products.  

Let’s dive in.

October 18

This week’s edition highlights how tech-enabled cost savings can drive other investments across a firm.  

As Brian Moynihan put it during Bank of America’s third quarter earnings, “operational process improvements” are paying for its other initiatives: 

“Continued digitization allows us to continue to be efficient and effective and, frankly, plow the money saved back into marketing, back into more technology to make us even more effective, and then back into the people where we need them,” Moynihan said. 

The stories below demonstrate how BofA and other financial institutions have leveraged efficiencies to propel other investments, like increased hiring or more capital for business customers.  

Let’s dive in. 

October 11

This week’s edition highlights examples of big banks thinking like fintechs as they fight to keep their customers satisfied. Whether through rolling out new, value-add tools or by making it easier to access their services, the banks featured in these stories are trying to strengthen their relationships with customers to avoid being replaced.   

“PayTech providers have set the pace, implementing composable technologies, essentially allowing them to personalize their offerings,” Capgemini’s global industry head, Nilesh Vaidya, told Insights Distilled. Legacy banks need to find ways to keep up by customizing their products, too.  

Let’s dive in.  

October 4

This week’s edition highlights several examples of what a Mastercard engineer describes as a technological “butterfly effect,” where a small change (or issue) has ripple effects through a platform or ecosystem.  

Whether it’s a rogue database query that could wreak havoc on a complex IT system or integrated international credit data that can help immigrants live healthier financial lives, the stories in this edition highlight the power of a tech-enabled shift.  

Let’s dive in.

September 27

This edition spotlights the varied ways that big financial institutions use technology to serve distinct stakeholders, including their consumer users, their corporate clients, and themselves.  

The banks’ use cases on display range from banishing passwords or launching fraud-flagging AI to automating their own trade settlement operations, and involve internal innovation, partnerships, or investments.

Let’s dive in.  

September 20

Hello from the Bank Automation Summit happening this week in Seattle.  

As fintech founders rub shoulders with banking execs, it’s no surprise that one of the big themes is how to build successful, strategic technology relationships.  

For any given launch – whether it involves overdue modernization or a cutting-edge new product – execs need to weigh whether to build products internally, buy from a vendor, or form deeper, substantial partnerships with providers.  

And if you choose the latter, what does that look like? “For a true partnership, the relationship must be a win-win: It has to work for both parties and be a marriage of equals,” Citi’s Mohit Narula said during a panel session on Monday. “Those are the partnerships that usually succeed.” 

This week’s edition highlights the dynamic, wide-ranging nature of tech relationships and spotlights a variety of different models, from partnerships to acquisitions. Let’s dive in: