Tag: Citigroup
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Citigroup’s Trade Error To Cost Bank More Than $50 Million
Manual trading errors such as the one described in the Bloomberg article referenced HERE can essentially be eliminated by implementing business rules within the Trade Order Management System (“TOMS”) / Execution Management System (“EMS”), that a given bank has installed (years ago TOMS and EMS were separate systems but today typically are a single system).…
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Square’s Cash App Has A Fraud Problem
We compared a number of Fintech apps in the Google Play Store. Square’s Cash App ranked #7 (See our analysis for Fintech rankings). Venmo failed to rank in the top 600. Recent Cash App user reviews from the same Google Play Store analysis suggest Cash App is frequently hacked. View our analysis by clicking the…
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Most Banking CEOs Fail To Innovate. New Citi CEO Jane Fraser May Have Better Luck.
Innovation is the name of the game and I am unable to think of a major bank that has innovated or disrupted the market over the past 20-30 years. Goldman probably comes closest. Goldman’s biggest “innovation” was attaching itself to Apple’s coat tails. JPMorgan has leveraged AI and other advanced technologies internally. However, JPM has…
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