Companies in the US that are placed under a monitorship must engage thoroughly and completely with the monitor. Once a monitor is in place and agreement has been reached on the terms of the enforcement agreement, engagement letter and scope of work to be performed, what should the company do to ensure a successful outcome?
The infiltration of multiple digital technologies in banking operations continues unabated, with the goal of outpacing customers’ expectations and fintechs’ competition. From mixed reality to voicebots and robotisation, the race to digitalize financial services securely but optimally has no end in sight. How can banks compete strongly?
The area of financial crime management at banks is vast with scope encompassing customer due diligence, sanctions & screening, fraud prevention and AML compliance. Over the years the combination of technology & operations supporting this area has become mature and internal service provided include effective prediction and prevention of the movement
Bank clients have embraced online channels to complete routine transactions, but this doesn’t mean they no longer seek human contact. When the time comes to cope with complex financial matters, individuals and small businesses alike often want a human financial partner. How can banks best meet this demand for blended customer service?
Digital investing apps have opened the gates to investment, and those formerly excluded have flooded in. Does the financial advisor have a role in a world of robo-advisors and digital brokers? The answer is yes for many investors who seek a human investment partner and find having one provides confidence, due diligence and higher returns.
Climate change, renewable energy, biodiversity, social equality and other sustainability objectives are top concerns for financial firms and stakeholders. To be on the right side of the transition, banks need to adopt strategy models that incorporate social and environmental factors in loan criteria. Only then will they begin banking for impact.
The Sustainable Development Goals provide a blueprint for achieving inclusivity and sustainability, and participation from the financial sector is crucial. COVID-19 has complicated efforts to accomplish the SDGs by 2030 in the Asia-Pacific region, but ESCAP, empowered by innovation, is partnering with public and private sectors to succeed.
As central banks worldwide unveil their CBDCs, the ECB continues to develop the digital euro. Nearly 20 years after the euro’s historic issuance, the ECB’s digital euro is in the formal investigation phase but is guaranteed to become a reality soon, once the necessary preparations have been made to ensure its effectiveness and security.
Kuwait’s Warba Bank was established a decade ago to help bolster the economy. By leading in digitization, it has provided a blueprint for its peers. During his interview, Shaheen H. Al-Ghanem described the bank’s varied offering of digitally delivered products and services, which have resulted in high ratings from its appreciative customers.
Effective innovations start with real customer problems and go from there. Such was the case of the Temenos Virtual COO, a technological solution born through collaboration that uses advanced analytics and XAI to empower SMEs to make smart business decisions, freeing up time to develop the business—and unlocks SME banking growth for lenders while managing the risk.