Operations

The Society for Worldwide Interbank Financial Telecommunications said its new capability, which lets users track trades from order to settlement, will be broadly available next year.

Citigroup may record losses of at least $50 million following a London staffer’s fat-finger trade that caused a flash crash in European stocks last month, according to people familiar with the matter.

U.K. regulators have told JPMorgan Chase to review how the firm manages its operational risk as the Prudential Regulation Authority intensifies its scrutiny of the reporting processes of banks it regulates.

Executives from Alliance Bernstein, Edward Jones and Kasisto discuss best practices and ways to improve the client experience.

The operating environment is dramatically different than it was pre-pandemic and presents all-new challenges for financial institutions. Tried-and-true strategies that led to high performance for many years are no longer going to be successful. Join Bonnie McGeer, Executive Editor of American Banker, and Claude Hanley, Partner at Capital Performance Group, as they highlight important trends and comb through data from top-performing banks across the country for insights that will help regional and community financial institutions thrive in 2021. Executives will learn what metrics will be most critical to focus on to maintain high performance going forward.

The bank will divvy up Owen's responsibilities among three other executives, including Kate Danella, who will become chief strategy and client experience officer.

Lester Owens, who is scheduled to join the bank in July, will report to Chief Operating Officer Scott Powell. He will be charged with implementing a more unified structure across the 260,000-person company.

Banks are so caught up in the newest technology trends that they lose sight of the need to build a talented workforce and a purpose-driven organization.

A thorough process for approving experiments with artificial intelligence, clear philosophical principles and diverse human involvement are some of the ways BofA says it's working to ensure AI does no harm.

In stark contrast to his predecessor, C. Allen Parker said Thursday he accepts regulators' criticism and suggested that the bank may struggle to achieve revenue growth until it moves past its regulatory woes.

The company offers an operating system for financial applications akin to Apple's iOS, and more than 1,000 applications run on it.

The Janesville, Wis.-based institution is set to move into a new downtown location in 2021.

Time is running out to apply to win one of Credit Union Journal's Best Practices Awards.

Banks could shed as much as 20 million square feet of office space over the next five years as they shift many functions to high-tech operations centers in markets with cheaper rents.

Its decision to hire a consultant to trim expenses highlights the difficulty regionals face in making long-term technology investments in a low-growth era.