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Expert Insight into Deutsche Bank Job loss Announcement as a Result of AI
Ben Musgrave, Principal Consultant, Data & Analytics at Synechron, said: “As companies like Deutsche Bank embrace AI techniques in robotics, the global banking industry’s operations and workforce will undoubtedly be impacted. In such cases, these firms have a responsibility as part of the automation process to think about how they can reskill or gain new value from the employees who were performing these automated tasks, including controls and governance of these systems and focusing on data analysis or other roles that require human insight.
“However, it is important to acknowledge when discussing AI that robotics/automation is just one discipline. There are other areas of AI that are not merely focused on automating processes and gaining efficiency that could equate to personnel redundancies. These techniques include data science and cognitive learning that have the potential to help solve complex business processes that will require experts to model the algorithms and analyse the outputs from the models. This can bring tremendous value to businesses who should think more broadly about AI and its potential beyond automation and how it could impact jobs.
“AI has the power to vastly expand the offerings available to customers and expand the number of customers. Our belief at Synechron is that AI will be harnessed to improve customer service and increase customer volumes. This effect will mean that similar levels of jobs will be created to those that are lost. Furthermore as the repetitive unskilled jobs are automated it will be higher skilled, higher salaried, more interesting jobs that are created. This should have a net beneficial effect for customers, workers and shareholders alike.”
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CLS Appoints Six New Board Directors
CLS, a financial market infrastructure group delivering settlement, processing and data solutions, today announces the appointment of six new members to its Board of Directors at the CLS Annual General Meeting held on 9 June 2026.
Mobey Forum Calls for a Collaborative Approach to Fraud Prevention in Rethinking Fraud in a Connected World
Mobey Forum’s Fraud Expert Group has published a new report, Rethinking Fraud in a Connected World: Trust, Collaboration, and Resilience in the Digital Ecosystem, exploring how fraud is evolving beyond traditional banking threats and why stronger collaboration across industries is becoming essential.
SumUp Launches in Canada
SumUp, the global financial technology company, today announced its official launch in Canada. The milestone makes Canada SumUp's 38th market and its latest step in building out its presence across the Americas, as the company continues its mission to make commerce simpler and more accessible for all businesses worldwide.
European Fintech Association Elects New Board of Directors
The European FinTech Association (EFA) today announced the election of its new Board of Directors, bringing together senior leaders from across Europe's fintech ecosystem to guide the Association's work over the coming term.
G+D: Navigating the Future of Fintech Agility and Innovation
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Connect IFA Strengthens Leadership Team to Drive Growth and Enhance Adviser Support
Connect IFA Ltd is pleased to announce key leadership appointments designed to strengthen its commitment to growth and enhance the support it provides to advisers and network members.
FreeAgent Launches New AI Tool for Landlords to Capture Rental Statements
FreeAgent, the innovative accounting technology company, has launched a new feature into its landlord software, enabling landlords and accountants to harness artificial intelligence to input and reconcile data from letting agent rental statements.