The bloodletting will hit hardest in back-office operations, risk management, and compliance, the unglamorous guts of banking
Oh good the unimportant stuff
Ah yes, let’s put the spicy autocomplete in charge of keeping banks safe and legal!
/s
The bloodletting will hit hardest in back-office operations, risk management, and compliance, the unglamorous guts of banking where algorithms are believed capable of tearing through spreadsheets faster and more effectively than humans.
At the company I work for it was IT that was hit the hardest (~300 people for starters) but that’s because management decided it’s okay with old software. Compliance has to reduce headcount by 3 by 2030. My colleagues in back office seem to be fairly sure of their future because this is a highly regulated industry where fuckups are generally frowned upon due to their cost and compliance headaches they can cause.
