Digitisation has strengthened the trend toward a cashless system, with central banks exploring the feasibility of central bank digital currencies. Spearheaded by The Bahamas with its release of the sand dollar, many central banks are in various stages of releasing their own cryptocurrencies. Although China is the dominant leader in CBDC development, other central banks are catching up. CBDCs share some of the attributes of popular cryptocurrencies but not all.
The robots are taking our jobs—or are they? This has been one of the most hotly discussed subjects of recent years as the startling developmental leaps being made in technologies such as artificial intelligence (AI) and robotics continue to make automation more sentient, efficient and productive.
Interview with Ms. Jelena Galić, Chief Executive Officer and Chairman of the Executive Board, AIK Banka
Serbia has endured mixed political and economic conditions but today is enjoying a period of economic growth. One of its top banks, AIK Banka, is well positioned to take advantage of this favourable climate, having determined to serve its clients in the most innovative ways possible while maintaining its long-standing reputation for stability and integrity. CEO Jelena Galić recently updated us on AIK Banka’s progress in fulfilling its client-satisfaction drive.
Banks are a mixed bag when it comes to utilising technology’s full potential: some are taking full advantage while some are trying, and often struggling, to apply technology to their existing businesses.
Everyone recognizes the benefits of going digital these days, especially governments seeking to advance their economies. The value of any national economy hinges on its assets, and a digital economy has its own assets that are distinct from those of traditional economies. These digital assets joined together within a thriving ecosystem are intrinsic to the formation of a truly inclusive digital economy.
No one can deny that around the world, bank branches are shutting their doors, alarming consumer advocates. But who is mainly behind the trend away from brick and mortar and toward digital? As research proves, the prime mover is the customer, whose changing demands and expectations are causing the shift. Fortunately, today’s two main banking channels are not mutually exclusive; they can work successfully in tandem.