Liverpool FC sponsor Standard Chartered invests in robots and artificial intelligence

Banking group Standard Chartered, Liverpool FC’s shirt sponsor, is aiming to use robots or artificial intelligence to offer bespoke wealth advice or handle customer enquiries. The Asia-facing bank has hired thousands of extra compliance officers in a bid to stick to regulations. In 2013 the bank was fined £650m by US authorities for breaching sanctions on trading with Iran. Last year it announced its regulatory costs had risen 44% to £447m due to an increase in investment in its financial crime risk compliance capability. Now, chief executive Bill Winters wants to tap into technology to avoid further regulatory problems. He has set up a laboratory, the eXellerator, in Singapore which he hopes will be able to utilise new technologies to oversee humans. The lab is at the centre of a…


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