Robin Vince 2.0 1 idea

BNY is spending 19% of its revenue on technology (highest among peers). They have reduced client onboarding times from "days" to "10 minutes" using AI and have 140 "digital employees" (AI agents). BNY is transitioning from a "boring" custody bank to a tech-forward platform. The high tech spend is now converting into operational leverage (doing more with flat headcount). This efficiency should drive margin expansion. Long BNY (Ticker: BK). High capex spend without immediate ROI visibility; general financial sector weakness if rates stay too high.