Technology

The KPO (knowledge process outsourcing) sector has been busy lately, responding to clients’ demands for faster access to the research they require to meet today’s rapidly changing demands. Machine learning has helped analysts achieve what otherwise would have been an impossible feat in gleaning the needed knowledge from vast volumes of data.

The rise of innovations such as decentralised finance, super apps, and the metaverse have provoked a raft of new ideas about how the industry can be reimagined. But as banking and financial services prepare to harness these new paradigms, it can be easy for the industry to lose sight of the basic requirements that customers have come to rely upon.

Not long ago, financial institutions prioritized financial risks, with ESG risks low on their lists of concerns. That is no longer the case. Today, FIs must proactively incorporate the rapidly changing ESG landscape into their operations and strategies. What practical steps will ensure that their businesses are equipped for the future?

The last few years have seen the US approve increasingly punitive legislation against Huawei, much of which has been based on perceiving the Chinese telecom giant as a national-security risk. But have the bans been effective? Have they influenced US-China relations? And has the US suffered more than China in the race to 5G supremacy?

Having in place a digital-transformation plan is a now a reality for any corporation. But are the investments made in these platforms bringing about the outcomes they were designed to achieve? For many companies, they are not. On what key elements must corporations focus to ensure that their digital agenda becomes reality?

Consumers are increasingly, even if unknowingly, taking advantage of embedded finance when using financial products and services from non-financial organisations. Innovative fintechs are seizing this huge growth opportunity by providing a truly personalised service to consumers and managing the immense amount of data required to match individuals to the best possible product.

At the turn of the millennium, payments were among the less appealing departments aspiring young bankers could stive for: standard procedures, steady income and comparatively low risks are attributes in demand today but were considered boring back then. Two financial crises and a gigantic technology leap later, and payments has become a hotly contested market where brands

Despite billions of dollars spent on technology initiatives each year, few banks have done a successful company-wide AI implementation due to certain challenges. Pritham highlights areas of banking that have been impacted by AI and provides strategies that the industry’s director-level leaders can use to continue to implement AI.

Data is the fuel that keeps every business running, but using it in an optimally efficient manner is a goal that is often difficult to achieve. Data fabric is one of the most exciting data-management tools emerging today, promising to help firms make their data work for them by consolidating it so that it is easier to manage and maximize.

In a move that has led to interest rates reaching their highest level in 13 years, in late June the Bank of England (BoE) opted to hike interest rates by 25 basis points to counteract soaring inflation – itself, the highest in 40 years. Such inflationary pressures are unforgiving for consumers, with prices skyrocketing in every essential category.