Problems have continued to mount for the German banking sector in 2019. According to Ronit Ghose, the global head of banks research at Citibank, German lenders are in a much worse position than their European counterparts—and that even includes Italy when it comes to profitability.
The game of cat and mouse between the regulators and banks against money launderers has now moved to a new level – all thanks to the emergence of AI and machine learning technologies. AI and machine learning technologies have been around for some time, but have recently started coming into prominence in the world of financial services.
Invoice financing is becoming increasingly more mainstream as a financing option for businesses — and it may pose an opportunity for banks as well. Invoice financing refers to the process of a business borrowing money against its accounts receivables (versus credit worthiness).
There are times when no one wants to see history repeat itself, and that’s the case among today’s investors in technology stocks. Some fear that the dot-com bubble burst of 2000 may repeat itself 20 years later. Although some tech stocks may be overvalued, the flourishing Fourth Industrial Revolution displays no signs of running out of steam any time soon. Caution is advised but not panic.
Climate change has already altered industries, and banks have not escaped its reach. Banks are finding that climate-related risks, both physical and transitional, are manifesting on their balance sheets. As with any risk, financial institutions that fail to effectively manage climate-change risks are more vulnerable to the rising tide of environmental hazards. What does recent research indicate about banks’ responses to the financial risks (and opportunities for investment) associated with our changing climate?
Customers today are leery of sharing with businesses too much of what they consider to be one of their most valuable assets: their personal data. And it’s no wonder, as data breaches abound. Fortunately for banks in the United Kingdom, they rank more highly than other businesses in customer estimation of data guardianship, according to recent research. How can businesses across sectors bolster customer trust in their data handling?
Mr. Simon Hughes of International Banker interviews Mr. Ade Adebiyi, CEO and Managing Director of Guaranty Trust Bank Sierra Leone on the bank’s CSR strategy, its corporate and commercial offerings, and the bank’s exceptional performance figures.
Although banks have been in financial services longer than anyone else, they have a thing or two to learn about customer service from the mammoths in the retail sector. Retail subscription services are taking off, promising to deliver combinations of products conformed to the needs and likes of customers, whose preferences are well known from data analyses. What similar steps can banks adopt in their drive to augment customer satisfaction?
Little will be affected as much by the ageing of the world’s population as pensions. In Europe, the ratio of workers to pensioners has decreased and in 40 years will be roughly two to one rather than the much healthier four to one of the recent past. Many wonder from where the pension funds will come, and they should. The solution may lie in the new Pan-European Personal Pension Product.
Once upon a time, traditional banks could depend on customer loyalty, no matter what. A bank was the one-stop-shop for all things related to consumer finance. Not anymore. Not now that neobanks and fintechs are competing for the same consumers. Although bank customers are reluctant to move their financial business, banks are being increasingly challenged to address their needs first, which is all working out to their advantage.