Machine learning is threatening to disrupt the hedge fund industry as AI becomes powerful enough to forecast market moves better than people. As the industry “struggles with middling performance and outflows,” excitement is building for AI fields to “unlock lucrative patterns” in Big Data, the Financial Times reports.
Aging and complex IT systems could scupper demand for an overhaul within a year. Source: Banks concerned over being able to meet EU data protection deadline GDPR? What? What’s this? Where did this come from? Have we known about this? We have? Why didn’t anyone tell me about this? You did? I didn’t listen?…
Nasdaq and Citi are partnering to utilize blockchain technology to expand and improve cross-border and private company securities payments. Source: Nasdaq, Citi using blockchain for securities payments | American Banker
A dozen years after it pioneered the technology, the company now says any bank or credit union using RDC is infringing on its innovation. Source: USAA wants banks to pay it for remote deposit capture | American Banker Isn’t this the same way drug dealers get their clients hooked?
The creators of a top “altcoin” are building privacy features for JPMorgan’s blockchain platform. Source: Worlds collide: JPM works with team behind anonymous crypto Zcash | American Banker This is a well written and well-cited article. If you study the article and make use of all the hyperlinks, you will have learned a lot.
The nation’s largest pension plan has 380 people overseeing $320 billion in assets. But when one of its top officials was asked during a board meeting how much in performance fees was paid to private-equity managers, he had to acknowledge no one knew. Source: Only Robots Can Tally What the Largest U.S. Pension Fund Pays…
DESCRIPTION_HERE Source: CFTC Launches LabCFTC as Major FinTech Initiative