Much attention has been paid to the financial fallout of COVID-19 in the banking industry, but not as much to the emotional toll on managers and staff. Senior bankers have the technical know-how to weather the coronavirus crisis, but they sometimes lack the soft skills needed to steer an institution through choppy emotional waters. How can they build those essential soft skills at a time when they are desperately needed – and what will that new focus mean for the future of executive training?
London Institute of Banking & Finance
Small and medium-sized businesses need reliable lenders, but they are often viewed warily by credit institutions. That could provide an opportunity for Big tech that use alternative data to credit score SMEs and help them optimise their financial performance. However, it is banks that will be the future of SME funding because they have financial data, can guarantee data privacy and have no conflicts of interest with their clients.
Policies and procedures governing good conduct are a given in a financial institution, but unfortunately these are not always applied in practice. Surprisingly, while good conduct should start at the top, many firms have fallen short of this goal, with their senior managers and board members simply not following their own guidelines, negatively impacting the staff underneath them and their customers.