Human Bankers Are Losing To Robots as Nordea Sets a New Standard
Human Bankers Are Losing To Robots as Nordea Sets a New Standard
Published on July 30, 2018 at 11:30PM
Something interesting happened in Swedish finance last quarter. The only big bank that managed to cut costs also happens to be behind one of the industry's boldest plans to replace humans with automation. From a report: Nordea Bank AB, whose Chief Executive Officer Casper von Koskull says his industry might only have half its current human workforce a decade from now, is cutting 6,000 of those jobs. Von Koskull says the adjustment is the only way to stay competitive in the future, with automation and robots taking over from people in everything from asset management to answering calls from retail clients. While many in the finance industry have struggled to digest that message, the latest set of bank results in Sweden suggests that executives in one of the planet's most technologically advanced corners are drawing inspiration from Nordea. At SEB AB, CEO Johan Torgeby now says that "whatever can be automated will be automated."
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Published on July 30, 2018 at 11:30PM
Something interesting happened in Swedish finance last quarter. The only big bank that managed to cut costs also happens to be behind one of the industry's boldest plans to replace humans with automation. From a report: Nordea Bank AB, whose Chief Executive Officer Casper von Koskull says his industry might only have half its current human workforce a decade from now, is cutting 6,000 of those jobs. Von Koskull says the adjustment is the only way to stay competitive in the future, with automation and robots taking over from people in everything from asset management to answering calls from retail clients. While many in the finance industry have struggled to digest that message, the latest set of bank results in Sweden suggests that executives in one of the planet's most technologically advanced corners are drawing inspiration from Nordea. At SEB AB, CEO Johan Torgeby now says that "whatever can be automated will be automated."
Read more of this story at Slashdot.
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Human Bankers Are Losing To Robots as Nordea Sets a New Standard
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July 30, 2018
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