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?