Banks are outsourcing their AI strategies to their vendors
As banks integrate AI into their systems, they are becoming accountable for decision-making architectures that they did not design and have no real insight into. That means they need to ask their vendors some hard questions.
Is the SEC creating a better version of the ICO?
The initial coin offering boom of a decade ago was a manic free-for-all, but inside that mania was the germ of a genuinely good idea.
Warsh’s words put markets at ease, but volatility remains
Many traders took the Federal Reserve chair’s tough talk on inflation as a signal that the central bank is poised for a rate hike, but the corresponding dip in long-dated bonds proved short-lived.
Nonbank lender finds niche in airport concession business
Los Angeles-based Lendistry recently received a $100 million credit facility from East West Bank to support loans to airport concession operators.
U.S. Bank’s business banking expansion targets the Sun Belt
Florida, Georgia, Texas and Arizona are all states where U.S. Bank, which operates mainly in the Midwest and the West, sees growth opportunities.
Asset managers misjudge what advisors prioritize: Cerulli
Many advisors want asset managers to do more than provide access to investments. A new Cerulli report suggests they should emphasize practice management strategies rather than business growth.
Why JPMorganChase is deploying robots in its lockbox
The robots, which have the dexterity of a human arm and can open envelopes, remove staples, and scan documents, are being used in its Chicago lockbox and will eventually be deployed in its six other lockbox locations across the U.S.
BitGo buys institutional trading division from NYDIG
The crypto company made the acquisition to expand its institutional platform after it received approval from the OCC for a national trust bank charter.
The art of borrowing against a Picasso
Borrowing against art can offer liquidity without triggering capital gains, but high costs keep it from becoming a first-choice strategy.
Non-QM securitization record signals secondary market shift
Bank of America Securities research shows this sector has had its best year since at least 2017, but some trends in the market point to a need for caution.