Artificial intelligence, once the subject of science-fiction novels, is today regarded by financial institutions as a must-have. But the AI uptake can be challenging. How can banks turn this trendy buzz-term into a vital component of their day-to-day operations? The embarkation point is to begin the five steps toward making AI innovation a reality. From data to teams, the necessary resources are there to propel a bank into AI actualization.
Interview with Mr. Ricardo Cuesta Delgado, Chief Executive Officer, Banco de la Producción S.A. – Produbanco (Grupo Promerica)
Ecuador’s Produbanco is guided by the principle that its essence is its customers. Its commitment to fulfilling its mission of accompanying people and companies daily to overcome their limits, sharing their best experiences and consolidating long-term relationships is realised in its application of digital innovation. The bank seeks to go beyond merely fulfilling financial needs to providing memorable experiences. In our interview, CEO Ricardo Cuesta Delgado shared Produbanco’s latest advances.
Financial institutions and their communities depend on each other, and the banks that recognize this symbiotic relationship succeed where others fail. Success is the case for Fidelity Bank Ghana, guided by its motto “Together We’re More”. Viewing itself in partnership with customers, this heavily awarded bank exemplifies how fruitful working in cooperation with stakeholders, through “normal” times and crises, will ultimately be. Innovation is this bank’s tool to achieve more.
The coronavirus pandemic is shifting the agenda for innovation in retail banking, with consumers seeking refuge in online and telephone banking in record numbers. Take a whistle-stop tour of the global technology trends taking off in the United Kingdom, as banks find opportunity in crisis. By promoting the digital self-service-banking methods used successfully elsewhere in the world, while respecting customer preferences, UK banks are finding a way through this challenge.
Oracle Vice President and Global Head of Financial Crime and Compliance Products John Edison discusses the sheer number of transactional financial crimes around the world and why banks of all sizes need to act now to avoid hefty fines.
Some banks act as bulwarks in turbulent times; Ecuador’s Banco del Pacífico has been there for its customers through thick and thin for just under half a century. But this progressive bank, dedicated to enhancing the customer experience, has gone beyond anchoring to steering Ecuador’s, and indeed Latin America’s, financial industry into the virgin seas of digital transformation. Its loyal customers have responded to this ahead-of-the-curve bank with wholehearted approval.
Interview with Ms. Mariame McIntosh Robinson, President and Chief Executive Officer, and Ms. Arlene Williams, Vice President, Personal and Business Banking, First Global Bank Limited
The Caribbean island country of Jamaica is a top draw for tourists seeking a tropical paradise, but it also hosts a stable and growing economy serviced by a dynamic banking sector. Driving the digital transformation is First Global Bank, which has served Jamaican communities ably for the past 50 years. In our interview, President and CEO Mariame McIntosh Robinson and Vice President Arlene Williams describe FGB’s vision, values and latest innovations.
King Coal’s reign over energy production is threatened by less expensive and more sustainable contenders vying for its throne. Coal is waning in the US but remains in demand elsewhere, so it may not be finished yet.
Emerging Markets Are Pressed for Liquidity, but Central Banks Don’t Issue the Currency They Need the Most
The COVID-19 crisis has been most challenging for emerging-market economies, those that least needed a new challenge as they were vulnerable before the crisis began. Liquidity support from central banks is crucial, but their help is often not in the hard currency required. The guardian of global financial stability, the IMF, will need more support from its members to fulfill its role as the true lender of last resort.
The Digital Imperative for Banking in the New Normal By Ciko Thomas, Group Managing Executive, Retail & Business Banking (RBB)
Nedbank is ingeniously employing existing and new digital solutions to meet the needs of customers during the COVID-19 crisis.