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CIBC Mellon taps Duco for AI-powered data automation tech | Fintech InShorts: Latest fintech news, analysis by experts

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CIBC Mellon taps Duco for AI-powered data automation tech

By Laura M

May 9, 2024

CIBC Mellon, a joint venture between CIBC and BNY Mellon, partners with UK-based Duco for AI-powered data automation.
The partnership aims to enhance asset servicing solutions for banks, pension funds, and institutional asset managers.
Duco’s no-code data automation technology will be integrated to manage data effectively, reduce operational risk, and improve client experience.
CEO Mal Cullen emphasizes the importance of AI-based automation for ensuring exception-based processes and long-term sustainability.
Chief Client Officer Richard Anton highlights the goals of promoting automation of repetitive tasks, focusing on insight and analysis, and enhancing data management.
The adoption of AI technology aligns with similar initiatives by stakeholders like BNY Mellon, which recently announced leveraging Nvidia’s AI-powered supercomputer for AI applications and infrastructure management.

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