Digitally native customers are driving banks to jump into the future by embracing technological breakthroughs such as artificial intelligence, machine learning and robotic process automation. And in the process, banks are discovering the many advantages of these innovations, from cutting down on costly human errors to improving everything from fraud management, operational efficiency and trading. As they progress through their digital evolutions, many are reinventing themselves for the better.
For the 28 jurisdictions that are members of the Basel Committee on Banking Supervision, adopting Basel banking standards is a given. But why are some non-member developing countries embracing the reforms when they don’t have to? The answers vary by country, but the final lesson is that regulators should carefully evaluate the advantages and disadvantages of adopting Basel regulations in whole or in part for their nation’s unique situation.
If last year was any indication of what financial markets will look like in 2019, we are in for a very bumpy ride. Last December alone, the Dow Jones Industrial Average fell and rose more than 8 percent as finance experts struggled to make heads or tails of a bizarre political climate, unsteady interest rates and global tariffs.
Macrotrends such as shifts in demographics, environmental awareness, urbanization are transforming one of today’s most fundamental asset classes, infrastructure. Required for the operation of any society, infrastructure is providing investors with impressive returns along with opportunities to capture the benefits of these megatrends; infrastructure investment has consequently shown impressive growth in the past decade.
When A.G. Bell invented the telephone, he had no idea that less than a century and a half later, the phone would be used to talk through—and text, shop, even bank with. Smartphones are small enough to be held in one’s hand and big enough to handle nearly any function. How are banks making fraud-vulnerable processes such as onboarding fast, efficient and secure by verifying the identity of customers?
The huge global increase in connectivity, prompted by the launch of mobile devices, has affected banks just as much as retailers. As a result, financial institutions have had no choice but to put digital at the front and centre of their strategies – using technology to enhance the customer journey at every touch point
Mainframe computers have enabled banks to manage huge amounts of financial data for nearly 70 years, but these legacy systems are today proving to be hindrances to progress. Lean fintechs are taking full advantage of today’s ground-breaking, agile technology, while established banks are struggling to transform their bedrock digital infrastructure for the new world. How are banks migrating to cutting-edge systems that will maintain them on their industry’s frontlines?
Apple, the producer of the iconic Mac personal computer and trendy iPhone smartphone, succeeded in reaching a milestone that most corporations only dreamt of: becoming the world’s first company to be valued at $1 trillion. A case study in both perseverance and ingenuity, considering that this was a company flirting with bankruptcy in the late 1990s, few companies can afford not to consider the lessons to be learned in Apple’s meteoritic comeback.