Banking

India, the world’s largest democracy with a comparably young population, is conquering long-entrenched obstacles to financial inclusion through the innovative adoption of digital banking. From mobile applications to digital payments, India’s digitalization of financial services is revolutionizing the industry to benefit each Indian citizen.

India is among the nations seeking to lessen their dependence on the US dollar in trade and cross-border transactions, launching initiatives to boost the rupee’s position as an internationally recognized reserve and payment currency. The rupee has room for more progress, but India has made great strides in raising its international status.

Europe’s non-bank financial institutions (shadow banks) have attracted the watchful eye of regulators concerned about their rapid growth and ties with traditional banks after many shadow banks engaged in risky lending during the previous low-rate regime. What regulatory measures are needed to contain contagion risks to the banking sector?

According to a survey of senior executives of investment banks and financial-advisory firms, 2023 may not be a bad year after all for deal-making. To fully exploit the expected upturn, investment banks must undergo internal improvements, including consolidations, automation investments and integrations with specialized knowledge partners.

As the financial-services industry confronts more turbulence, including recent bank failures, the importance of sound treasury management has moved to the forefront. What are the key vulnerabilities currently challenging treasury management at banks and financial institutions, and what recommended steps will help them steer through them?

The jobs-to-be-done framework (using products and services to fulfil the tasks, goals and problems customers seek to address) provides banks with a stable anchor to innovate, differentiate and create value by aligning with customers’ purposes, keeping them competitive and relevant amid constant change and competition from digital rivals.

Global Capability Centres are less well known than other innovations, but they are equally important, extending the reach of international banks worldwide. Technology has enabled these facilities to evolve from service centres to megacentres, providing immeasurable value. What are the main themes, gaps and priorities facing GCCs today?

It’s no longer enough for banks to deliver exceptional financial products and services. Customers today expect them to also provide excellent, personalized customer experiences. Banks willing to improve their CX delivery will reap many returns on their investments. What steps should they take to be thoroughly centered on their customers?

Zenith Bank, an international financial institution in Nigeria, has prospered despite serious global trials, propelled by its dedication to digitalisation and sustainability. As CEO Dr. Ebenezer Onyeagwu explained in our interview, the bank is committed to creating premium value for its personal and business customers through innovation.

Profit drives most banks, but a few are mission-oriented. While MDIs have long contributed to improving financially underserved communities, rapid industry changes threaten their existence. These institutions must overcome barriers to digitalization with help from the government and other partners to thrive in today’s financial sphere.