The Philippines, among Southeast Asia’s most dynamic economies, is experiencing a growth spurt, and its top bank, BDO Unibank, is prepared to take full advantage. Guided by its core values, which include being committed to delivering “products and services that surpass customer expectations” and “the process of continuous improvement in everything we do”, BDO is on course to meet its targets of profit and growth, according to President and CEO Nestor Tan.
Interview with Mr. Sivakrishnarajah Renganathan, Chief Executive Officer and Managing Director, Commercial Bank of Ceylon PLC
The financial industry of Sri Lanka, South Asia’s island republic, has withstood its share of turbulence. Standing out is Commercial Bank of Ceylon PLC, led by its vision to be the “most technologically advanced, innovative and customer friendly financial-services organisation in Sri Lanka, poised for further expansion in South Asia”. In our interview with him, CEO and Managing Director S. Renganathan describes how the bank is escalating its positive impact.
Artificial intelligence has become a must-have for banks today. AI in the form of robotic process automation and machine learning is going a long way to help banks become more efficient in customer service, more compliant in adhering to regulations and more capable in tackling fraud. But like all good things, it comes with a few strings. What are the responsibilities for senior individuals and boards attached to the many benefits AI brings to banking?
Mergers and acquisitions are often a good solution for ailing banks and have been tossed around more frequently lately as the answer for Europe’s financial institutions, many of which are struggling with internal issues along with external factors such as anemic growth and low interest rates. While consolidation brings many benefits, it may not be the best remedy for European banks right now, especially when it involves substantial cross-border deals.
Greenfield is a new concept in banking and means establishing a new operation in the field. The approach has proved attractive to traditional retail banks as they take advantage of all of the benefits of digital banking by starting new operations alongside their old ones, soaring to new heights without being constrained by their cumbersome legacy infrastructure. The time is ripe for corporate banks to also enjoy the greenfield effect.
The current decade has not been kind to Greece’s financial sector, which has been beset by one crisis after another. And yet, from the rubble, a fully digital bank has arisen, the first in the country. In our interview, Praxia bank’s CEO Anastasia Sakellariou describes what it is like to create a bank with a vision to meet its customers’ needs solely through digital channels while remaining completely human.
When considering the robustness of banks in the United States today, it may be a challenge to recall how perilously close many of them came to falling into the abyss a decade ago. Most of these banks are soaring above their international peers and bolstering national growth. What factors have most contributed to their recoveries—causing them to not just survive but excel a few short years after the Great Recession?
Thailand’s sluggish economic growth has raised alarm bells recently, but its banking sector continues to push forward. Krungsri, one of the country’s top five banks, is guided by its mission to responsibly meet the needs of its customers and serve society through sustainable growth. In our interview, Mr. Pornsanong Tuchinda, head of commercial banking, discusses how by combining customer centricity with digital technology, the bank is achieving its goals.
Hong Kong, southern China’s special administrative region, is counted as one of the world’s foremost financial hubs, ranking high in digital transformation, and is currently rolling out virtual banks, which are keeping traditional banks on their toes. One of the well-established banks in Hong Kong, China CITIC Bank International (CNCBI), has staked claim to being a frontrunner in digitalization and is rapidly expanding its innovation footprint in China’s Greater Bay Area.
Banks increased their recruitment of temporary Accounting & Finance professionals across both Regulatory Reporting and Product Control as the summer hiring lull ended. A number of external factors have played a key role so far this year, not least Brexit uncertainty and the impact of IR35 on longer term contract opportunities.