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Welcome to the machine: Citi foresees 30% reduction in employees in financial institutions due to automation
FinanceFeeds has spoken at length with a number of FX technology and brokerage solutions companies, all of which have highlighted a common focus with regard to the development of their systems. One particular example being Leverate, which is automating the sales process to enable brokerages to reduce their staff headcount, therefore saving money on rental of office space to house several employees, salaries, and the inefficiency that results from buying leads and making telephone calls to generate conversions. It is widely acknowledged that it costs approximately $1000 to acquire a retail customer, largely due to the ... (full story)
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