It is becoming clear that trade digitisation has huge potential to unlock access to world trade for small-to-medium-sized enterprises (SMEs). The move away from laborious, manual, paper-based processes will lever simpler access to trade finance
Simon Hughes of International Banker interviews Mr. K.C. Li, Group Chairman and Mr. Andrew Bainbridge, Group CEO of SBM Holdings on the positive financial growth of the bank, SBM’s desire to establish a larger pan-African presence and the bank’s expanse of its service offerings.
What a huge advance it is that the financial sector now has robots to relieve the ever-growing pressure of regulation. Almost everyone handling or processing personal data now faces vastly increased compliance requirements once the European Union’s General Data Protection Regulation
In 2017 Russia enjoyed a refreshing return to economic growth and general optimism—until November, when a GDP contraction took analysts by surprise. The question is, was the setback a minor bump in the road on the nation’s path to sustained recovery, or was it a signal that Russia has fallen back into recession after a good but temporary run?
Back in 2015, Deutsche Bank embarked on an ambitious 20:20 strategy, organised around four strategic goals – to become simpler, more efficient, to modernise outdated technology and reduce risk.
Many banks have given up the fight and are working to get along with those fintech upstarts, but not regarding one area in particular: top-notch tech talent. When it comes to tech staff, the gloves are off, and banks are fighting to both recruit and hold on to the cream of the crop, recognizing how indispensable experienced professionals have become in the digital world.
In Europe, PSD2 is opening up previously inaccessible bank-customer data, with customer consent, to third-party providers, all in an effort to provide consumers with more financial options at the best prices. Although some bank managers are focused mostly on compliance, others are looking at the bigger picture: at Open Banking as a new opportunity to boost customer satisfaction and meaningful interaction.
Simply mentioning the topic of artificial intelligence in finance usually elicits a mix of excitement (“AI is amazing and can solve every problem”) and fear (“Will we all lose our jobs? Will robots cause the next market crash?”).