Equal pay and equal opportunity make sense, but gender inequalities persist in financial services. However, progress is being made, with more women being installed in senior management and board positions in financial firms. There is much room for more progress, though. Chief executive positions, for example, remain largely filled by men.
If anything prompted agility, it was the pandemic. Most banks surprised themselves by how agilely they responded to the immense changes required in record speed. Celent’s Model Bank virtual event brought banking professionals together to discuss the importance of agility in banking, what makes a bank agile and how it can become more agile.
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 death knell for the global benchmark interest rate LIBOR has rung, and the impact of its demise will be widely felt. The time to prepare for the switch to alternative risk-free rates has arrived; the back book will need to be transitioned, and products based on the new rates will need to be launched. What are the three main risks during this period, and what is the major opportunity?