Citi is saving 100,000 hours per week in the KYC area after implementing AI technology. Approximately 2,500 FTEs will be impacted.
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KYC layoffs in the US? Where is this affecting?
@hq Depends on the administration. Republicans usually like to do away with things like pesky regulation and firing massive groups of people in oversight jobs.
@d1 Exactly. My only question is how long until the next consent order or massive remediation? I give it 2 years, tops.
This is how it goes with consent order work. Get a consent order, knee-je-k reaction, hire a ton of people, run in circles shuffling paper for a few years, consent order lifted, lay everyone off. Rinse and repeat.