Although not a new concept, big data is now gaining the world’s attention like never before. Some call it the “new oil”, given its growing reputation as a valuable, largely untapped resource. Indeed, today we are seeing data being unleashed across many different walks of life, as a growing global consensus believes it could dramatically transform the way the world works.
A key global initiative that currently unites much of the world is the 2030 Agenda for Sustainable Development. Launched by the United Nations back in 2015, Agenda 2030 is an action plan for “people, the planet and prosperity”, which countries and stakeholders, acting in collaborative partnership, have pledged to implement.
Vetting and validating new technology vendors often falls to bankers and marketers who may lack the technical expertise needed to thoroughly understand the presented technology, including whether it will provide the best solution for the bank’s specific needs. It’s easy to overlook red flags and grasp at what might seem like a simple solution.
Interview with Ms. Nahla Khaddage Bou-Diab, Deputy General Manager and Chief Operating Officer of AM Bank
Ms. Juliet Morris of International Banker interviews Ms. Nahla Khaddage Bou-Diab, Deputy General Manager and Chief Operating Officer of AM Bank on the bank’s approach to customer service, the take-up of digital banking in Lebanon and the “opportunity gap” for women employed in the Middle East banking sector.
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.
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).
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?
ISO 20022, the ISO standard for the interchange of electronic data between financial institutions, has arrived and is shaking up the payment sector worldwide. Migrating to the new system is voluntary, but the advantages of lower cost, greater fraud protection, increased customer satisfaction are quickly winning over banks and businesses alike, making its blanket adoption inevitable. What do bank managers need to do to prepare for this payment-processing overhaul?