campenon
How AI could revolutionize custody banks
Institutional clients are swimming in massive amounts of data that mere mortals can't handle effectively. That is why custody banks are increasingly turning to artificial intelligence and robotics to help their clients wade through it. Such clients want their custody banks to offer better data aggregation and analytics and more automation, according to a recent report by BNP Paribas and the research firm Tabb Group. The authors surveyed a group of sell-side senior executives at midsize banks and brokerages in the United States regarding their technology priorities and their expectations of custodians. "Clients can analyze data and react much more quickly with robotics than the current systems they are running," said Bruno Campenon, a BNP Paribas Securities Services executive who oversees the financial intermediary and corporate client lines.