FINANCE
Finance Pro’s Could Automate More
In a recent Mckinsey survey, they found that only 1% of CFO’s have automated more than 76% of their financial processes.
While technological advancement has been available at a breakneck speed, the balance of evaluating the effectiveness, safety and practicalness has been slow to catch up.
FINTECH
Revolut Gets Its License
Prior to the summer break, we wrote about Revolut’s positive performance. The fintech darling received some more good news…it has finally secured its UK banking license after three long years.
COMPLIANCE
Citi Gets Fined
Citi was fined US$136M by US regulators for not making enough progress and improvements in its data management issues.
The issues were identified back in 2020 and the bank was mandated to allocated sufficient resources to fixing this problem.
Unfortunately, the regulator has found they have yet to meet those requirements.
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