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Google Cloud to develop quantitative research and genAI capabilities for three new industry takers
Google Cloud has extended its technology to three new financial institutions in a fresh boost for the industry’s digital capabilities.
The vendor announced the developments at its Google Cloud Next event, which is being held in Las Vegas this week.
The first of these deals concerns US-based capital markets firm Citadel Securities, which has expanded its seven-year relationship with Google Cloud to build out its quantitative research platform.
Claiming to execute $400 billion in trades a day, the market maker’s new platform will include features that enable its researchers to profile performance, monitor efficiency and increase its research productivity and price-performance ratio.
Also set to expand its partnership with Google Cloud is Scotiabank in Canada, which began working with the vendor in 2021 and will now use its Vertex AI solution to power its exploration of large language models (LLMs) and generative AI.
These developments are intended to enhance the bank’s security and client experience through a chatbot for customers at the front end, and an LLM-driven search tool for employees.
Discover Financial Services is also leveraging Google Cloud in its application of AI, and thus forms the vendor’s third announcement in this series.
The US-based digital banking and payment services company is also tapping its Vertex AI solution to introduce generative AI capabilities to its contact centres.
The integration is expected to equip agents with real-time search assistants, enhanced self-service options and tools for intelligent document summarisation early this year.
The deals together signify the increasing appetite for cloud capabilities within the industry and follow a string of deals announced by the vendor in recent months.
The most notable of these include its latest agreement to drive the digital transformation of Malaysia’s Bank Muamalat, and its new multi-year partnership with TD Bank in Canada, which it announced earlier this month.
Source: fintechfutures.com
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S&P Global Sustainable1 Introduces Municipal Climate Risk Analytics
S&P Global Sustainable1 specializes in offering comprehensive data analytics solutions to evaluate environmental, social, and governance (ESG) risks for investors and market participants.
Their latest initiative introduces the Municipal Climate Physical Risk dataset, aimed at addressing the risks posed by climate change to municipal bonds.
Covering over 3,100 U.S. counties, all 50 states, and 47,000 general obligation bond issues, this dataset provides insights into climate hazard exposures for U.S. local governments.
It encompasses nine climate hazards across four climate scenarios, averaged over decadal time periods from the 2020s through the 2090s.
Included in the dataset are exposure scores comparing regional exposure to climate change hazards on both a national and global scale. Additionally, exposure metrics indicate the percentage of a region’s GDP and population exposed to climate hazards.
Steven Bullock, Managing Director and Global Head of Research and Methodology at S&P Global Sustainable1, emphasized the increasing frequency and severity of extreme weather events caused by climate change across various regions in the U.S., from high water stress in the West to compound exposure to flooding and tropical cyclones in the Southeast.
Source: fintech.global
The post S&P Global Sustainable1 Introduces Municipal Climate Risk Analytics appeared first on HIPTHER Alerts.
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Renasant Corporation promotes president and COO Kevin Chapman to CEO
The post Renasant Corporation promotes president and COO Kevin Chapman to CEO appeared first on HIPTHER Alerts.
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