If bank branches seem emptier these days, it is because a majority of staff are working from home, heeding COVID-19 restrictions. And most of them prefer the WFH arrangement. Banks have had to implement a number of operational changes to accommodate the WFH model, balancing employee health with productivity and accountability concerns.
Banking and baking have much in common: They both require the right ingredients combined perfectly to achieve success. In their quest to realize the full potential of automation technology to manage data, banks face a vast selection of ingredients. What specific innovations should they employ when creating integrated platforms that work?
As consumers continue to move more boldly into the digital realm, it has become increasingly clear that their personal data is of considerable value to different stakeholders. Whether it’s through their heart rates monitored by their watches, their geolocation data provided when they check into particular restaurants
As technology continues to advance at a rapid pace, financial institutions all across the world are under intense pressure to improve efficiency, reduce costs and boost productivity. Indeed, there is now a considerable global need for the financial-services industry to evolve comprehensively from traditional, age-old business models.
With COVID-19 still dominating the narrative across the global banking industry, arguably the biggest challenge lenders will face in 2021 is how best to maximise the customer experience amidst such a challenging environment. Indeed, given the low interest rates that have continued to weigh heavily on banks’ net interest income (NII)
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.
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.
The hold traditional banking once exerted over consumer finances has seriously eroded in the Digital Age, with fintech presenting a formidable challenge to banking’s sovereignty. Customers are shrugging off any loyalty they may have had to their main banks and are opting for the providers with the most convenient, efficient, secure and, above all, speedy financial solutions. Can banks survive in the fintech world, and if so, how?
Competition is intensifying in the banking sector, with fintech start-ups, technology giants and social-media leaders targeting various parts of the financial-services profit pool.
Corporate governance is moving from back to front stage. Change starts at the top, and a good board of directors is credited with strengthening value creation and stability. What makes a good board? Members should represent their company’s diverse stakeholders and be skilled in a variety of areas that were historically considered the domain of management. For too long, too many boards have fallen short and a reboot is required!