International banks are rapidly evolving to cater to the digital world. With pen and paper signatures nearly obsolete, banks are investing in electronic signatures as a more secure, trustworthy replacement. But questions remain: How secure are the systems that consumers and businesses use and what happens if a transaction is disputed?
With federal regulators becoming more receptive to large deals, bank merger approvals have sped up under the Trump administration. Although the anticipated merger activity volume has slowed relative to early 2019 projections, the fact remains that attention to detail in the execution of these combinations has never been more important.
It may seem to bankers that they have been unfairly targeted by increasing compliance requirements recently. One directive after another has flowed down the pipe from regulators. But as firms have discovered, building and maintaining a culture of compliance and integrity brings with it many business rewards. What are the five best ways that financial institutions can weave compliance, business integrity and corporate social responsibility into all aspects of their operations?
Money-laundering activities should have received a fatal blow from the scandals revealed in such documents as the Panama Papers, but recent events paint a different picture: the offshore finance industry and money laundering continue to be alive and well! Financial institutions that find AML compliance an escalating struggle are not alone, but the costs of non-compliance are even more taxing. It’s past time for banks to take a closer look at their client portfolios.
Most headlines around fintech disruption focus on consumer-facing services, such as digital mobile only banking or money transfer services. Consumer services, after all, resonate with the public—it’s easier to tell a story about a new peer-to-peer money transfer service with consumer branding than a better way to do SME lending.
Banks exist to serve the financial needs of consumers, through whatever avenue works best. With the rapid evolution of technology, more tools and resources are available than ever before to determine and meet those needs. Personalization in banking works when the customer is the focus, but without customer-centricity as their anchor, banks drift from what really matters. What steps can banks take to stay focused in today’s changing financial environment?
Everyone recognizes the benefits of going digital these days, especially governments seeking to advance their economies. The value of any national economy hinges on its assets, and a digital economy has its own assets that are distinct from those of traditional economies. These digital assets joined together within a thriving ecosystem are intrinsic to the formation of a truly inclusive digital economy.
Impact investing, which places social and environmental goals as equal partners with risk and reward, is continuing to reshape the financial sector worldwide. One example is the new impact-focused Scottish Stock Exchange, which will require companies seeking to list to meet the demands of today’s socially conscious investor. Capital markets are in a state of flux within a changing world, and it is incumbent upon all financial-sector players to face this reality.