San Francisco — Blockchain, cognitive computing and cloud were among the technologies that would shape the finance industry the most in the digital age, banking and technology chiefs said at a conference on Monday. IBM president and CE Ginni Rometty said cognitive computing, or computer systems that mimic the way the human brain works, would be the "ultimate way" for finance firms to be more competitive in the future. "I think the advantage is going to go to who has the best insights," Rometty said. Over the past few years, financial institutions have been struggling to take advantage of vast amounts of data that they store, which is held unevenly across their numerous databases. "We all have mounds and mounds of data, but getting data to produce insight, that is the holy grail", Cathy Bessant, chief operations and technology officer at Bank of America, told Reuters on the sidelines of the Fintech Ideas Festival. Financial institutions have also been ramping up investment into devel...
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