How can banks and financial institutions get through to the generation born in the 1980s and 1990s, the so-called “millennials”, also known as Generation Y, given their shorter attention spans and distrust of brand loyalty?
As customers age, their vulnerability to abuse, especially financial, increases concurrently. Elder financial abuse is not a new crime but is becoming more prevalent with the current senior boom. Where does the bank’s responsibility to ensure safe banking for elderly customers begin and end, and what steps can it take to ensure the financial well-being of all clients, especially its most vulnerable?
Imagine you’re one of the nearly 40 million Tanzanians who live in a rural community. It would most likely take a day of your time and a considerable portion of your earnings just to travel to the nearest brick-and-mortar financial institution.
In the United Kingdom under new government regulation, businesses must report their gender pay gaps. The factors contributing to these gaps are varied, but as Jayne-Anne Gadhia, the government’s Women in Finance Champion, explains, closing them is a must to tap into the full potential of all employees regardless of gender, for the benefit of not only the workers and their firms but society at large.
Anyone working in banking knows that customer expectations are charging ahead at full throttle, fuelled by technology advances. Fortunately banks can use innovations such as AI and IoT to meet customers where they are at, and a recent Fujitsu report shows they are doing—or planning to do—just that. So what can we reasonably expect banking to become as a result of this transformative process?
There’s good and bad news for UK banks in the 2018 FIS PACE study on SMB banking, which surveyed hundreds of small-to-midsized businesses (SMBs) throughout the country. The good: 7 out of 10 SMB clients are satisfied by their banks’ performance.
Machines are capable of “thinking” faster than their human creators, but that doesn’t necessarily mean they think better. Computers have their place in helping humans, but that doesn’t mean it is wise to let them take their place. Machines make mistakes, too, although theirs are a little different than the ones humans make. Is there a middle ground at which computers and humans can work together effectively?
Investing has become more complicated over the last few years, and investment managers are stepping up to the plate. It’s not all about the money any more but also about the climate, human rights and diversity. ESG investing is consuming an ever larger share of the investment marketplace as today’s investors grapple with environmental, social and corporate-governance considerations alongside their goals of maximizing monetary returns.