Deutsche Bank is reportedly working with IBM, Microsoft and India's HCL Technologies to set up joint innovation labs in Berlin, London and Palo Alto. The firm plans to send bankers across business units to these labs in an effort to spur innovation and improve digital services, the Wall Street Journal reported.
Nasdaq is reportedly about to unveil the high-tech renovations to its Times Square headquarters building. The exchange reportedly spent $10 million to add features to the building, which is already...
Technology investment has been key to managing the low interest rate environment, Bank of America Merrill Lynch CEO Brian Moynihan said Wednesday, by helping the firm improve efficiency while at the same time funding projects that could offer competitive advantages.
Barclays plans to devote considerable IT resourced to supporting an ambitious open source data project underway at Commonwealth Bank of Australia. The project, which involves building an extract, transform and load (ETL) tool that can run on Hadoop, has already been underway at CommBank for three years.
When Long Beach, Calif.-based Farmers & Merchants Bank decided to implement an enterprise content management system years ago, automated audit trails and centralized management of business processes were not part of the plan. Instead, the firm simply wanted to free up storage space.
JPMorgan Chase and Co. is seeking incentives to build two towers on Manhattan's West Side, with the total space reportedly being equal to two Empire State Buildings. The buildings would be...
The Financial Industry Regulatory Authority has seen positive results from the work it has done so far in migrating toward big data analytics and cloud-based technology for market surveillance. As a result, it is leveraging those same technologies in its bid to build and run the Securities and Exchange Commission's Consolidated Audit Trail (CAT).
CME Group announced this week that it will cut 150 jobs representing 5 percent of its workforce, in response to what it called "changing market dynamics." The majority of the job cuts will be in the technology area, with some cuts in corporate and administrative functions as well.
High-frequency trading has been accused of bringing many changes to the market, but one technological shift it has not received much credit for is an increased awareness on the importance of time-synchronization.
Barclays is turning around its investment banking business with a strategy that focuses on return on investment rather than revenue growth, Tom King, CEO of Barclays' investment bank, told attendees of the Barclays Global Investor's Conference in New York.