"ABN Amro plans to cut nearly a quarter of its staff by simplifying processes, with IT, including artificial intelligence (AI), central to its plan. The removal of legacy systems, deployment of embedded AI and the use of application programming interfaces (APIs) will support a strategy to optimise and digitise processes. The bank, which currently has just over 22,000 staff, said 5,200 full-time roles will be removed by 2028."
"Traditional banks face increased competition from digital challengers, which have lower cost bases with far fewer staff. For example, UK digital bank Revolut last week announced its latest valuation of £56m. The bank, which began life as a fintech providing foreign currency services, now offers bank accounts, credit cards, loans and cryptocurrency trading. It has 65 million customers worldwide and is planning to reach 100 million by mid-2027."
ABN Amro will remove 5,200 full-time roles by 2028 from a workforce of just over 22,000, with 1,000 roles already cut this year and further reductions expected mainly through natural attrition. The bank plans to simplify operations, reduce legal entities, and optimise end-to-end processes while phasing out legacy systems, expanding API use, and embedding AI. The CEO committed to a robust social plan offering financial support and job-finding assistance for affected staff. The move responds to competition from digital challengers with lower cost bases and AI-integrated operations, exemplified by Revolut's rapid customer growth and smaller workforce.
Read at ComputerWeekly.com
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