At the end of July, JPMorgan Chase revealed its plans to facilitate $200 billion in clean-energy financing through 2025. The announcement follows on from similar promises made back in 2015
Italy’s banking sector, mired in bad debt and low profitability, has been labelled Europe’s weakest, but fortunately it is making progress in addressing long-standing issues—with a little help from the government. Recent bank bailouts have given renewed hope to struggling lenders, while raising concerns that the arrangements conflict with Europe-wide rules prohibiting the use of taxpayer funds to bail out failing banks.
Change has become the key word for European Union banks, and the European Commission’s Revised Payment Services Directive, set to come into effect next January, promises to level the playing field for banks and fintechs as well as uphold consumer rights, while also possibly changing the face of traditional European banking beyond recognition. How are banks coping with the challenges and demands of the PSD2?
It’s not news that the innovation sweeping most of the financial world has been slow to meet up with the realm of international trade finance. That’s why the world’s premier international-payments network, SWIFT, has joined forces with various financial institutions and utilities to make cross-border payments a whole lot faster as well as more efficient, transparent and traceable.
Serbia, in the Central Balkans, may not seem to be at the forefront of the digital revolution. And yet amongst its top five banks is AIK Banka, which is making a determined effort to exploit all of the benefits of modern financial technology to provide top-notch, innovative services and products to its customers while staying true to its traditional core businesses.
There’s no doubt that first impressions matter—that’s why those initial contacts potential customers have with banks can mean either a long-term, happy marriage or a quick divorce. Banks have a lot to lose in getting their onboarding processes wrong, and a lot to gain in getting them right;
Can a bank be a friend to its customers in their times of need? Thailand’s Krungthai Bank thinks so, and that is why it has stood behind all of its customers since its beginnings 50 years ago through thick and thin, including devastating natural disasters. State-owned KTB proves that banking customer service can indeed go that extra mile and still be profitable.
The banking industry in Ecuador has endured its ups and downs, including a full-blown and far-reaching liquidity crisis in 1999. Fortunately financial conditions are much more promising in the Ecuador of today, as banks work alongside a supportive government toward such goals as the financial inclusion of all Ecuadorians and the digital revamping of costly legacy bank systems.
It cannot be denied that we learn from mistakes of the past, and so the 2007-08 financial crisis is a lesson that keeps on giving. Ten years later, most banks are in stronger positions, but only because the crisis has changed all the rules on liquidity provision and has led to much tighter relationships between central banks, governments, funding markets and financial institutions.
As the personal data of customers is more openly shared within the global digital community, the question arises: Who does it belong to? In Europe and the UK, new regulations are addressing the concerns consumers have about who is accessing their data and for what purpose, bringing both challenges and opportunities to financial institutions, which depend on customer data to effectively do business.
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