January 2023

January 13, 2023December 18, 2023 byadmin

Jitterbit: Four trends shaping the financial industry’s resilience in 2021

By Tom Ainsworth, Head of Customer Engagement, Jitterbit

Despite our best hopes, 2021 is shaping up to be another year of continued disruption. Many organisations in the financial industry will have moved heaven and earth over the last year to meet seismic changes in customer needs and behaviours.

Some of those innovations will have been on the digital transformation roadmap well before the pandemic. Others will have been quick fixes, often delivered by IT teams under enormous pressure and in record time.

This year, then, is the time for financial organisations to take stock and solidify new ways of working while ensuring they are responsive and resilient to the ever-changing business environment. Here are four trends already emerging in how IT teams are planning to meet the challenges that undoubtedly still lie ahead in 2021.

1. Embrace low- to no-code

Moving to a low- or no-code methodology helps an organisation address the everyday tactical challenges that arise in a fast-moving business environment. Let’s look at the example of a team that has yet to invest in low- or no-code solutions. They might be using an older, incumbent piece of legacy software, where only one or two developers internally know the tool. When a tactical requirement arises – say, a change to an existing process or workflow – it goes into a backlog until one of the developers who is familiar with the legacy software has availability to custom code a solution. Immediately, there’s a bottleneck in the business.

Contrast this with a low- to no-code environment, where these sorts of integrations are ‘plug and play’, often using pre-built templates. Updates and integrations can be managed by business analysts as well as any developer so tactical requirements end up being shipped much faster. And we see how that trickles down through the entire organisation. In the financial services, this is mission-critical because there’s a high dependency on delivering on the promised customer experience and maintaining customer confidence. People often ask me when’s the right time for them to invest in low-code. My answer is, assume you need low-code solutions, don’t wait for red flags in the business.

2. Face up to your technical debt

Oftentimes, IT teams will respond to a red flag in the business with a quick fix – something which typically incurs an amount of technical debt. A bit of custom code or a work-around process which an individual on the team hacks together, usually under pressure of time. And, in a team without a low-code culture, this can seem a reasonable way forward. But in six months’ time, when that employee leaves, the knowledge about that fix leaves too. Suddenly there’s a black box in the business which now needs ever more quick fixes to work around, accruing yet more technical debt.
At Jitterbit, we recently onboarded a new customer from the financial services. It’s a challenger bank where this kind of hidden technical debt suddenly became apparent during the pandemic’s first lockdown. Calls to their call centre increased and it transpired that several ‘fixes’ in the business could not scale to meet demand. The technical debt they’d accrued over time had to be paid back immediately and without warning.

This customer came to us because firstly they needed an immediate solution – and secondly, because they realised they could have avoided all this pain in the first place. An integration platform-as-a-service would have solved their tactical challenges without the need for custom code workarounds and all that associated technical debt.

3. Work towards becoming vendor-neutral

Organisations in the financial services are, in the main, on board with the need to become more vendor-neutral. It’s a fast-moving vendor marketplace and Technology and Information leads want the agility to work with the best-of-breed for any given aspect of their stack so their organisation can stay competitive and resilient. Contrast that to ten years ago, when CTOs wanted monolithic partners who could provide hardware, software and services in order to remove the integration complexity of having multiple vendors in play.

In a sense, the monolithic approach did the job. But in return for greater operating simplicity, buyers had to accept a ‘middle of the road’ type standard of tools and services – and less ability to respond quickly to changes in their business environment. With the rise of integration platforms and pre-built templates, CTOs today no longer have to make a choice between the quality of their solutions and the complexity of managing them. Integration platforms are like a connective layer on which to build. Having this foundation means it’s simple to integrate multiple best-of-breed vendors and manage hundreds, even thousands, of API connectors. This is the key for any financial organisation wanting to stay competitive, responsive to customer needs and resilient to change.

4. Prepare for hyper-automation

The way we work is changing. Not only has remote working swept the world. Increasingly, organisations are realising that to stay competitive, any task within the business that could be automated should be automated. This creates significant new efficiency gains within the business while at the same time liberating people to focus on more innovative or customer-orientated tasks. Being able to deploy ever-greater automation requires the right technology foundations within a business. If you are starting out on this journey, think of hyper-automation not as a destination but as the technology toolbox you’ll need to make progress.

At its heart, hyper-automation is about data and removing manual processes in the way an organisation gathers, analyses and deploys data. Every hyper-automation toolbox will therefore need to include Robotic Process Automation (RPA) solutions which enable the automatic processing of data. Data Lakes, Data Integration Hubs and Virtual Data Warehouses will help organisations store and process data into information. Analytic tools will allow information to be turned into knowledge, ready for action at every level of the business.

By coupling these technologies with an integration platform-as-a-service, technology leads within financial organisations can focus on choosing the best-of-breed suppliers for their particular needs rather than how they need to be integrated. Many financial organisations are large, spanning investments, insurance, retail and commercial banking and beyond. Because of integration challenges and data silos, the historic challenge has been to derive actionable business knowledge across the entire business portfolio. Hyper-automation now makes a 360-degree view of the whole business not only possible but requisite. Much like the move to digital 25 years ago, the companies that embrace hyper-automation first will be at a distinct ‘first mover’ advantage, seizing a vantage point which could prove hard for competitors to assail.

Tom Ainsworth
Head of Customer Engagement
Jitterbit

January 13, 2023December 18, 2023 byadmin

Regulatory Reporting – The current landscape and emerging trends

By Kamal Sharma, a certified data warehouse management consultant, a veteran in India RBI regulatory reporting and he leads business development for the regulatory practice at Profinch Solutions.

In a deeply interwoven world, where a flutter here can induce a burst there, global financial systems function as a unified organism, whose movements greatly impact the world economy. Regulatory reporting and banking supervision is a systemic approach to ensure the health of this organism and pre-empt issues before they snowball into crises. Precipitated by the global financial crisis of 2008, adequate risk data systems and processes have helped banks build resilience and ability to weather crisis, as has been largely evident in pandemic ridden times. In continuing to supply the financing the economy required, the financial system has alleviated, and not amplified the impact of the crisis. There is no gainsaying that a robust banking sector, ably backed by effective global regulatory standards is of paramount importance.

The vertebral column of regulatory reporting

The Basel Committee on Banking Supervision (BCBS), first formed in 1974, is the primary global standard setter for the prudential regulation of banks and provides a forum for regular cooperation on banking supervisory matters. Its 45 members comprise central banks and bank supervisors from 28 jurisdictions. The Committee has established a series of international standards for bank regulation, most notably its landmark publications of the accords on capital adequacy which are commonly known as Basel I, Basel II and, most recently, Basel III. Through various guidelines and frameworks through the decades, BCBS ensures that international supervision coverage is all-encompassing and all banking establishments are adequately and consistently supervised. One of the core regulatory initiatives in recent years is BCBS 239 – Principles for effective risk data aggregation and risk reporting (RDARR). With the explicit intent of enhancing banks’ ability to proactively identify bank-wide risks by augmenting data aggregation and risk assessment capabilities, BCBS 239 has been an opportunity for banks to go beyond basic compliance and derive significant strategic value for their business. While implications of non-compliance by designated timelines like regulatory penalties & increased capital charges, regulatory & reputational risk and loss of competitive advantage have been spelt out, data and infrastructure platforms across banking institutions are yet to be fully revamped to meet the BCBS 239 guidelines. As per a progress report published by Basel Committee in Apr 2020 for G-SIBs (global systemically important banks), none of the banks are fully compliant with the Principles, even though there has been notable progress in key areas like governance, risk data aggregation capabilities and reporting practices.

A necessary woe

While its importance cannot be emphasized enough, compliance and regulatory reporting is a rather challenging area for banks to navigate. Since GFC in 2008, the regulatory pressures have burgeoned, with an astounding number of data points required at a high frequency and uncompromisable accuracy. More than 750 global regulatory bodies are pushing over 2,500 compliance rule books and giving rise to an average of 201 daily regulatory alerts.

Some of the challenges faced by financial institutions around core regulatory reporting are:

Ever-increasing complexity in the reporting system.
Keeping pace with frequent changes and being able to correctly interpret regulatory requirements.
Reporting timeframes crunched from months to weeks to ensure a timelier view of financial risks.
Dependence on manual processes, multiple siloed systems to meet various complex requirements – puts huge pressure on resourcing, time, efficiencies, accuracies. The inflexibility impairs adaptability to changing regulatory demands.
Data quality and integrity with ineffective data quality frameworks.
As per a study, 31% of institutions identify data quality issues as a major impediment in effectively meeting compliance requirements. Furthermore, analysts spend most of their time on data collection and organization and abysmally less on data analysis.
Maintaining end-to-end data lineage to be able to trace back the final numbers to the origin and validate them during onsite inspection.

How COVID pulled the strings for regulatory reporting

The pandemic has led to heretofore inconceivable actions by governments of the world like the shutdown of economies to contain the spread. In the face of this, ensuring economic and operational resilience of the global financial system has been the topmost priority of global regulators. Banks are faced with ensuring continued lending despite shrinking revenues, mounting cost reduction pressures, growing liquidity risk and erratic workforce productivity due to remote working. Regulators are attempting to strike a balance between implementing adequate measures for risk assessment and mitigation to avert a full-blown financial crisis, and relaxing several other activities like

Loosening implementation deadlines of new regulations.
Deferring submission deadlines for existing regulatory reports.
Suspending non-critical supervisory examination activities.
Allowing early adoption of risk/ exposure calculation methodologies.
Relaxing various buffers and reserve ratio requirements.

National and international regulatory bodies, the federal bank regulators, ECB, governments in APAC etc swung into action starting March ’20 to ensure the post GFC resilience of banking system keeps the economies afloat. BCBS has taken several measures to amplify the effect of the range of government support measures and payment moratoria programmes. While banks have been able to absorb losses until now, the credit losses are only going to mount as the pandemic shows no sign of abatement. As per the latest annual banking report by McKinsey, amidst a muted global recovery after 2021, banks are likely to face a huge challenge to ongoing operations that may persist beyond 2024.

Resilience is the mantra here – entering the crisis armed with resilience and braving it, and moving beyond the crisis with the resolve to build resilience into the DNA of banking systems. A robust regulatory framework has a major role to play in this.

Emerging themes

Technology is at the heart of cultivating a culture of proactive and comprehensive approach to regulatory reporting. According to Accenture’s Compliance Risk Study, compliance can no longer depend on adding new resources to increase effectiveness. Strategically planned adoption of Big Data and AI technologies can help arrest/ better handle the above listed challenges faced by banks.

The voices demanding respite from labour and time-intensive process of repeated reformatting of data points are becoming louder, leading to discussions around real-time regulatory reporting giving regulators direct access to source data. Austria implemented a similar reporting model with an intermediary in place to collect data and interface with the regulator. While we may be looking down the barrel of real-time reporting, it comes with implications for quality of information delivered, complete overhaul in how banks function like moving from month end closing to day end or week end closing, ability of regulators to process colossal amounts of raw data.

While digitalization promises to revolutionise how banks operate, there are risks and challenges that come with it. The rapidly evolving cyber-crime and increasing reliance on third-party service providers calls for closer regulatory monitoring and supervision.

Supervision and Regulation may have to factor in longer-term systemic challenges arising from outside the financial system, but with very clear implications on it. While COVID-19 is an example of low-probability high-impact factor, there can be slow-moving but long-term structural changes in our ecosystems that can have a far-reaching impact like climate change, changing demographics, income inequality & ensuing need for financial inclusion and sustainability.

There is clear global multilogue around whether some aspects of the regulatory system are unduly complex, hindering the resilience of the banking system on one hand and financial dynamism and innovation on the other hand. There is a case for rebalancing the degree of simplicity, comparability and risk sensitivity of the global frameworks.

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January 13, 2023December 18, 2023 byadmin

A purpose-driven banking for the post pandemic world

The Covid 19 pandemic has made a profound impact on people and industry worldwide. In the case of banks, in addition to managing their own businesses, banks have had to assume a social responsibility to help customers and communities get through the crisis. Be it transmitting massive government relief packages, deferring loan repayments, or encouraging digital consumption, banks have had to rise to the occasion, even while having to manage their own challenges around rising NPAs, shrinking growth rates, and declining valuations.

The pandemic has essentially accelerated the multi-dimensional disruption banks have been facing due to a confluence of several forces. On the economic front, banks have had to operate amidst shrinking GDPs, low to negative interest rate regimes, unemployment, and a slowdown in private investments, among others. On the political front, geopolitics, protectionism, and uncertain global trade dynamics have impacted the trade finance business. On the regulatory front, things haven’t been easier for banks either, with higher capital adequacy norms, new Open Banking regulations (such as PSD2), and a host of other laws covering consumer rights, data privacy, security, anti-money laundering, and terror financing, which imply massive rise in cost and compliance burdens on banks.

Sanat Rao, Global Head and Chief Business Officer, Infosys Finacle.

Further, new digital technologies such as Cloud, API, AI, and Blockchain are enabling new competitors to enter with innovative, low-cost, disruptive models to threaten incumbent banks that are still on legacy technology. As a result, banks are facing increased competition, especially from non-traditional players such as challenger banks, FinTechs and technology giants like Apple, Google, Alibaba. From a social perspective, the dynamism of customer expectations, their access to information, and ability to vocalise demand is unprecedented; add to this varying demographic and population shifts across markets, which present challenges and opportunities to banks.

Clearly, things are poised to get more challenging, as the Covid-19 led economic contraction aggravates many of these forces. And, banks have to do a delicate balancing act between customers’ credit needs, employees’ safety concerns, government directives, and societal expectations. At the same time, they are required to keep their costs under control while providing for future investments. In fact, McKinsey¹ estimates that the banking industry will lose cumulative revenues worth US$ 1.5 trillion to US$ 4.7 trillion between 2020-24 and may take up to 5 years to recover to pre-pandemic ROE levels.

These conditions are making it exceedingly difficult for bank executives to take decisions with conviction. Leading consulting firms have recommended several frameworks to guide action in these times. But banks will need to consider these frameworks in their unique context before expecting any value from the frameworks. They need to embrace first principles thinking, which helps to break a complex problem into its basic elements to achieve clarity and remain certain, amid all the uncertainty. Every bank should apply this thinking in its own context, a context that is defined by its purpose. Revisiting and aligning closely with the organization’s original purpose, thus, would be a more sound way to guide a bank’s decisions.

Interestingly, a recent KPMG CEO survey conducted in the pandemic period supports this view. As per the survey², 79 percent of CEOs said they felt a stronger emotional connection to their corporate purpose since the crisis began. So, what then, should be a bank’s ideal purpose?

Consider, for a moment, the purpose of three banks from three different regions. ANZ Bank states, “Our purpose is to shape a world where people and communities thrive.” The NatWest Group states, “Our purpose is to champion the potential of people, families, and businesses.” And Bank of America says, “Our purpose is to help make financial lives better through the power of every connection.”

Clearly, most banks have rather similar purposes across the world, at the core of which is a genuine intention to improve the way their customers and communities manage their financial lives. That is, to enable their customers to bank better or to save, pay, borrow, invest, and insure better.

Therefore, as banks revisit or strengthen their purpose to drive balance across stakeholder expectations, there are four evergreen priorities that they would do well to focus on. These are –

• Engage customers and employees constantly, to drive purposeful growth for their customers and themselves
• Maximize operational efficiencies, to reduce costs of servicing and be more sustainable
• Innovate continuously, to create new value and be competitive
• Drive continuous transformation, to stay relevant to evolving dynamics

Banks would be best positioned to achieve the above by – leveraging the power of modern technologies to unlock new possibilities and leveraging talented teams and purpose-driven culture to unlock true potential.

The pandemic has no doubt, deepened an array of challenges that banks have been facing prior to the crisis – depressed economics, uncertain geopolitics, tightening regulation, threat from new digital-attacker models, and changing customer expectations. But a black swan event of this magnitude also provides opportunities to clear obstacles like normal times cannot. Banks that have a clear focus and strategy built around the above priorities will be better able to manage diverse stakeholders’ expectations and will be on the road to recovery and growth, much earlier than others.

In summary, these are difficult times, but by adopting a purpose-driven path to transformation, banks will be able to recover in the short-term, thrive in the long run, and help create value for the communities they serve.

Sources:
1. https://www.mckinsey.com/industries/financial-services/our-insights/global-banking-annual-review
2. https://home.kpmg/content/dam/kpmg/xx/pdf/2020/09/kpmg-2020-ceo-outlook.pdf

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January 13, 2023December 18, 2023 byadmin

Let’s talk about LIBOR

The clock is ticking, LIBOR may not quite be on borrowed time, but it is heading towards its sell-by date at the end of this year.

Michael Koegler, Managing Principal and Pieter Van Vredenburch, Principal, Market Alpha Advisors, review what’s at stake.

Unless you have been living under a rock, you are likely aware that IBORs, the benchmark indices underlying $350 trillion in financial instruments globally, are about to be discontinued in every jurisdiction around the world. This isn’t news to anyone in the financial services industry and has been in the works for several years.

Despite the long lead time, many institutions – particularly in the US are not where they should be in their preparations. With the deadline a year away, that real sense of urgency has set in at many institutions. To be fair, firms have been somewhat distracted with the Covid-19 pandemic and have not been able to devote as many resources to this as they would have liked. Some have been hoping for an extension to the deadline, a legislative solution or another industry initiative to relieve them from the burden of dealing with the problem. This, however, has turned out to be wishful thinking.

The Federal Reserve has been trying to sell firms in the US on the idea of preparing for the transition, but they have not been as aggressive as other regulators around the world (notably the FCA) with their rhetoric and efforts to encourage firms to prepare.

Another factor contributing to the sluggish preparations is the difficulty in adopting the Secured Overnight Financing Rate (SOFR) as a replacement for LIBOR. The Alternative Reference Rates Committee (ARRC) chose to adopt SOFR over other established indices such as the overnight indexed swap (OIS). SOFR, a secured overnight rate with no inherent term structure, is completely different from LIBOR, an unsecured rate with a well-defined term structure. SOFR is new to the market and has features that do not work well within many sectors of the financial markets.

A certain degree of blame rests with the large money center banks. The ARRC members include 15 of them. They are supposed to be leading the industry by facilitating an orderly transition, but have instead been focused only on getting their own houses in order, working diligently to minimise litigation risks.

Finally, the sheer magnitude of the problem has some firms acting like a deer caught in the headlights. There is so much work to be done and many firms have severely underestimated the scale of the problem. To properly prepare for the transition an organisation needs to establish a proper governance structure and involve all areas of the firm, including the front, middle and back offices. The legal, compliance, market risk, IT and communications departments also need to be involved, and held accountable for hitting milestones. Without a proper governance structure, accountable to senior management, it is virtually impossible to coordinate a successful transition across a large organisation.

At this stage, firms should have educated themselves on the risks associated with the cessation of LIBOR, formulated a proper governance structure and identified affected instruments. The next step is to analyse the LIBOR fallback language embedded within deals, thereby enabling risk managers to categorise, sort and prioritise specific instruments for remediation. This sounds like a simple and straight-forward task, right?

Not by a longshot!

Analysing fallback language is an incredibly complicated process. Traditional data providers can supply you with a plethora of information on floating rate instruments. You can retrieve the issue date, maturity, index, index term, spread, credit rating, lead underwriter, trustee, etc. However, the one thing that no traditional data provider ever anticipated needing is information on what happens to a deal if LIBOR doesn’t set. The only way to properly analyse this risk is to comb through offering documents, indentures and supplements to determine how a discontinued reference rate affects the instrument.

Extracting the fallback language, categorising it and prioritising the risk will empower an institution to face the demise of LIBOR. Lacking an understanding of this unknown is something that firms should definitely be afraid of.

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January 13, 2023December 18, 2023 byadmin

SIX: Trading in 2020 and hopes for 2021 – the view from Zurich

By Adam Matuszewski, Head Equity Products, The Swiss Stock Exchange, SIX

Throughout 2020, European MTFs were unable to trade Swiss stocks – because the EU had denied the Swiss Stock Exchange equivalence in mid-2019. So, when the COVID-19 pandemic caused highly volatile stock price movements that lasted for several weeks, the Swiss market felt the full brunt of trading in Swiss shares, setting us up for an extraordinary 2020.

Despite the uncertainty, fair and orderly trading was ensured at all times within the Swiss ecosystem while managing to keep spreads tighter and recover more quickly than many European markets. Investors of any size and provenance could swiftly adjust their positions in Swiss shares based on their strategies, ultimately minimising the damage for the economy as a whole. This reliability and resilience allow financial market participants to be optimistic, should volumes surge again during a potentially sudden and vehement recovery in 2021.

An unpredictable 2020
Stock exchanges have traditionally been subject to – and designed to handle – fluctuation depending on external variables, but 2020 took this to new heights. COVID-19, international panic around geopolitics, and general uncertainty in global markets hit Switzerland like we hadn’t seen since January 2015, when the Franc was de-pegged from the Euro. Six years ago, the shock only lasted a day, whereas the impact from the pandemic has lasted months, albeit including unprecedented volume spikes in March.

Last year, some exchanges have tried to sit out the storm by closing their market and suspending trading. However, when they re-opened, all the temporary closure brought was further uncertainty in a time when investors were looking for open markets able to cope with crises. We saw this in the Philippines when the PSE closed for two days only to be followed by stock prices tumbling 30 per cent immediately after reopening. This is why scalable infrastructure has become increasingly important; it allows for a more seamless response to unforeseen circumstances, and is one of the reasons why ensuring functional market infrastructure continues to be a key focus for us in the coming year.

Lessons learnt
Besides offering the Swiss Financial Centre a chance to prove its stability and resilience, the extraordinary circumstances caused by the pandemic against the backdrop of non-equivalence also provided a unique opportunity to investigate the impact of liquidity consolidation on the market quality. Ever since the Market in Financial Instruments Directive (MiFID) entered into force in 2007, liquidity in equity trading was fragmented across several trading venues; now the effects of liquidity consolidation could actually be assessed on key areas such as trading activity, order book quality and prices. The results clearly show that spreads have been largely unaffected, and depth of liquidity has actually improved. Further, trading became more efficient as evidenced by lowered Order-to-Trade ratios and less ghost liquidity spread across venues.

So, despite the undeniable benefits of competition introduced with MiFID I and MiFID II, what has been clearly confirmed by our research last year is that liquidity consolidated in one place tends to be more resilient to volatility shocks than liquidity that is fragmented over several venues; and obviously, search costs are reduced to zero. Based on these facts, I think we should embrace a new debate on market structure that addresses the question how much competition is beneficial for the market and at where we might reach the tipping point where its downsides outweigh the benefits.

This debate about the future of trading should include the perspective of exchanges and all market participants, including the buy-side, mid-tier and smaller market participants.

Outlook for 2021
When looking back at 2020, it makes it hard to predict with accuracy what’s to come in 2021, as the past year has shown that anything can happen. But despite all the new uncertainties that Brexit might bring, it could end one – by reigniting competition for market share in Swiss stocks in 2021, even if the equivalence status of the Swiss Stock Exchange will not be reinstated by the EU. The reason is simple: most MTFs where Swiss shares could be traded are located in the UK, so we expect the market will start finding its new balance between liquidity on the primary exchange and alternative trading platforms.

Ultimately, we hope to see a return to normality within the trading ecosystem, and more healthy competition for stock exchanges. We know 2020 has been a difficult year. However, opportunities await, and we’re optimistic for the future developments in Swiss and European equities for the years ahead.

Adam Matuszewski
Head Equity Products
The Swiss Stock Exchange, SIX

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January 13, 2023December 18, 2023 byadmin

Lending, Leasing & Asset Financing in a post COVID-19 World

Vijay Kasturi, Head of Sales & Business Development – Western Europe at Profinch Solutions, lending — Vijay Kasturi, Head of Sales & Business Development – Western Europe at Profinch Solutions

As the last few days of 2020 played out, one looked back at the year with just a tinge of “good riddance” in the heart. After all, the year had begun with much promise; this was the year that ‘Vision 2020’ would come to fruition and all the ‘Trends for 2020’ would become everyday reality. Oh, 2020 had such a nice ring to it!

Little did we think that hoodies would become the hottest business attire of the year, or that we would learn a new term, “Social Distancing”, the inherent irony of the oxymoron notwithstanding. And we were signing off emails and calls with “Stay Safe”!

But dark clouds do indeed have silver linings. What 2020 did achieve is to bring digitalization of financial services delivery front and center and make it the #1 priority. After all, if customers can’t come to the bank, then the bank must go to the customer – even the non-Millennials.

2020 also heralded the era where we are all inextricably tethered to our devices and AI drives what we watch, who we date and indeed, how we engage with the world.

So, what does this all mean for lending and asset finance companies? How do they address the traditional challenges as well as the new ones brought on by the “new normal”? Most importantly, how do they survive in this age of Instant Gratification?

It’s about the Experience

Ownership of a product holds less meaning to today’s consumer than it did a decade ago. Having witnessed firsthand their parents struggle to come to grips with their assets losing equity during the global financial meltdown, they believe that things are momentary, whereas experiences are timeless. A product sold does not automatically translate into a happy customer; but a ‘wow’ experience at various moments of truth would almost certainly turn a customer into an advocate for the brand.

For lenders, this means an opportunity to transform the overall journey from a transaction to a lifecycle, by converting every interaction with the customer into a memorable experience. Interactivity, intuitiveness and customization are the topmost criteria for most customers today. Since the origination process is the first touch point to the customer, lending institutions need offer a personalized origination experience taking into account customer relationship as a whole rather than one product or service at a time.

The need of the hour is for a robust servicing platform backed by futuristic technology. Do away with the lengthy processes and cumbersome offline protocols. There is a need to accept, process and decision credit applications in a paperless mode, with a single data entry process. Lending and leasing institutions should be able to provide seamless channel integration to ensure an application can be started and closed on different channels of customer choice.

It’s about ‘Here’ and ‘Now’

“If my ride can arrive at my doorstep in 5 minutes; if my food can be delivered in 30 minutes; and if my e-commerce transaction can be fulfilled on the same day, all of this with the click of a button, then surely I don’t need to wait for days to get a loan or go to a branch…”

If that sounds familiar, it’s because traditional lenders haven’t embraced technology like their peers in other industries have. Uber wasn’t built in a day, but today ‘Uberization’ personifies Instant Gratification. Waiting is not appreciated and instant servicing is the greatest differentiator.

Lending platforms need to talk the language of their consumers. This means that from credit decisioning to the processing and fulfilment of the application, the entire procedure needs to be lightening quick – at least quicker than the closest competition. This is only possible if the underlying technology facilitates fast processing with smart business insights and real time reciprocation of consumer choices. And this should all be done in a manner that the consumer still sees things as if they were just one touch away.

It’s about “Know me, Empower me”

Traditional lending practices have placed credit history above all else, which means that entire segments of potential customers have fallen outside the net due to a lack of proper credit history. Compare that to today’s FinTechs who have aggressively used any and all available data to not only create a whole new segment of customers, but also poach them from the existing lenders.

Consider this: Many FinTech lending platforms assess borrowers not just on their available credit history, but also by looking at other credentials, such as the pedigree of their educational qualifications, and leveraging Machine Learning to analyze purchase and payment transactions and in some cases also the reviews that customers of businesses leave on social media like Yelp or TripAdvisor.

The right use of customer information should occur at the right time and this is only possible with digitalization of processes. Lenders not only need to offer the right mix of products and services at the right time, but also keep the customers informed about the entire process on their channels of choice while making the process interactive. This should be topped with the best prices based on the customer relationship and previous records. Digital technologies can also facilitate the minimization of delinquencies through better business intelligence and insights from consumer data gathered over the course of the relationship with the lender.

Any kind of negotiation, resolution or pay back can happen with the proper bucketing of customer data. This can potentially change a process that is perceived as painful and uncomfortable by many to a memorable brand experience that can increase the net promoter score for lenders.

It’s about Servitization

Servitization is the delivery of a service component as an added value, when providing products, and is a growing trend in Asset Financing. It has the potential to radically alter the way manufacturers go to market. In some servitization models, the customer owns the product and takes advantage of related services; in other models, the product itself is provided as a service. The servitization trend capitalizes on consumers’ growing comfort with subscription or ‘as-a-service’ offerings and buyers are beginning to expect the same experience in their B2B interactions.

With servitization, manufacturers can deliver the high-quality, personalized experience that customers want, with a complete service offering – from product selection to installation, maintenance, upgrades, insurance, and consulting. By improving the customer experience, manufacturers foster longer relationships with customers, increasing profitability, and customer loyalty.

To capitalize on the servitization trend, asset manufacturers need a lending and leasing system that can accommodate flexible terms, such as pricing per mile or hour, or a combination of traditional rental and usage fees. Internet of Things (IoT) is a crucial enabling technology underpinning the rise of servitization. IoT enables products to automatically communicate data about product usage, location, condition, and performance between all parties’ systems and devices, facilitating usage-based payments and superior customer service, from managing and planning maintenance to upgrade opportunities.

Servitization also enables customers to enter into a flexible lease based upon actual use of the product. If customers use the equipment for less than the contracted timeframe, they pay less. If they use the equipment more, they spend more or return the equipment at a predetermined product lifecycle threshold. This is a win-win for both customers and manufacturers as the customer only pays for what is used and the manufacturer doesn’t have to recoup a depreciated asset.

And finally, it’s about keeping it Simple

Interactivity, intuitiveness and customization are the topmost criteria for most customers today. This means an intuitive process with data based underwriting and centralized documentation of customer details. On top of it, all of these features need to reflect in a truly user-friendly user interface.

Digital ways of consumption of products and services are clearly here to stay and it is only going to get more sophisticated in future. As automation becomes imminent across lending products, a digital platform becomes an obvious choice for the aspiring leaders in the industry and a sturdy lending and leasing engine with a modern architecture, complete with support for IoT and the flexibility to adapt products to a subscription-based offering can go a long way in this context.

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An article by Vijay Kasturi, Head of Sales & Business Development – Western Europe at Profinch Solutions

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January 13, 2023December 18, 2023 byadmin

Banking Business and Technology Trends 2021

If there were any doubts about the need for scaling digital transformation urgently in banking, the pandemic dispelled them all. So, our banking trends outlook for 2021 stays with the 2020 theme of “scaling digital transformation.”

As always, they are grouped into business and technology trends.

Rajashekhara V Maiya, Global head of Business Consulting and Product Strategy, Infosys Finacle, Banking Business and Technology Trends 2021, banking — Rajashekhara V Maiya, Global head of Business Consulting and Product Strategy, Infosys Finacle

Business Trends 2021

Trend #1: Scaling Digital Business Innovation

Banks can look at scaling business innovation along the three axes of product, process and people.

Product innovation, from design and development to delivery and distribution, should be digitized and scaled, both in terms of time and reach. The innovation cycle has to be crashed to match that of new-age providers, and reach needs to be improved from the previous 2-3 percent success rate to meet the new benchmark of 10 percent; this means banks must target not only their own customers but also consumers who buy their products from fintechs, retailers and third parties. Clearly, legacy banking processes will need to be rewritten to align with new demands, such as a much shorter time to market. Everything from test launches to customer selection will be a candidate for digitization. Finally, digital business innovation should focus on improving the quality and productivity of remote workers through reskilling, redeployment and digital enablement.

Trend #2: Scaling digital engagement

In marketing, a moment of truth is that time when a customer or user interacts with a brand, product or service to form or change an impression about it. Companies famed for their customer experience, such as Apple, Amazon and Google, know how to capture the 4 moments of truth in a customer journey – at the exploratory (zero moment of truth), engagement (1st), experience (2nd) and renewal (3rd) stages. Banks should also enrich the interactions at each moment of truth to retain the loyalty and advocacy of their customers. In a multi-industry analysis1 by McKinsey, banking industry leads with a staggering 73% of customer interactions being digital – It’s now time for banks to optimize their channel strategies and shift their focus to digital infrastructure and beyond.

Trend #3: Scaling operational transformation

Incumbent banks, suffering 50 to 60 percent cost-income ratios, are fast losing ground to their digital rivals, whose CI ratios hover in the 20 to 30 percent range. Before they slide further, these banks must scale operational transformation at speed and scale, starting with shedding non-core assets, divesting non-core competencies such as data center, infrastructure and network management, and cutting capital expenditure by subscribing to cloud-based services.

Trend #4: Scaling work, workplace and workforce transformation

Covid-19 has turned the concept of work on its head. With branches scaling down and customers banking on digital channels, many kinds of in-person work need to be transformed or digitized. The workplace, which used to mean the branch or bank office, is now more likely the home of the customer or bank employee. So, the task in 2021, is to align the workplace context to digital delivery, and support an increasing number of transactions from “non workplace” locations. Even the workforce has changed beyond recognition. In 2021, we expect banks will expand their workforce of career bankers to include short-term and part-time employees, workers from the gig economy, and people from diverse backgrounds. They may also need to rebadge, reskill and repurpose existing employees, such as direct marketing staff, whose jobs may have gone digital or been automated.

Trend #5: Scaling risk management

The economic crises of the past, whether it was the Asian currency crisis, dotcom bust or sub-prime financial crisis, dried up banks’ liquidity. But in the recession fueled by the pandemic, banks are facing both liquidity and solvency risks together for the first time. While they have learned to deal with liquidity risk over the years, they will have to find ways to mitigate the large-scale solvency risk that is staring them in the face. One thing to do is to monitor it from more than just a financial perspective; banks should also watch out for risk of insolvency at the hands of departing customers, employees and shareholders in the new year.

Technology Trends 2021

Trend #1: Scaling a shift towards composable architecture

Banks can be viewed as a composite of smaller living organisms in the form of a deposit wing, lending business, trade finance operations, payments unit etc. that are contributing and thriving on their own. In 2021, the focus should be on leveraging their cumulative capabilities for bigger benefits. A composable architecture enables this by allowing the strengths of one element to be leveraged to benefit the others. Migration to a composable architecture can be accomplished in chunks, component by component, without disturbing the business of the bank. This architecture future-proofs the bank by enabling it to respond to future challenges – such as a pandemic – with agility, and making it highly scalable. It is also intelligent enough to optimize things, such as the channel mix, through self-learning and provision its own server, infrastructure and memory requirements automatically using artificial intelligence, machine learning and pattern analysis. We expect banks to invest in composable architecture and take transformation to the next level in 2021.

Trend #2: Scaling a shift towards public cloud

By limiting the entry of personnel into data centers and forcing operations to go remote, the pandemic eroded the traditional advantages of owned data centers. This drove businesses towards the cloud, which now held all the aces – scalability, agility, cost-efficiency etc. In 2021 we expect banks to discard on-premise thinking in favor of a cloud-first approach, going progressively from a private cloud to a virtual private cloud under public cloud infrastructure, and from there on to a hyper-cloud and finally, a poly-cloud environment. Another benefit of shifting to this environment is access to a huge community of developers for external innovation.

Trend #3: Scaling API-led possibilities

This year, banks increased their use of APIs for reasons other than regulatory compulsion. When customers flocked to digital providers during the pandemic, it exposed traditional banks’ shortcomings in customer experience, engagement and innovation. The banks realized that they needed API-first thinking while building new applications in order to consume external innovations as well as allow third-party developers to build innovations on top of their (the banks’) services. We expect they will continue on this path in 2021, with domain/ business/ function-oriented APIs.

Trend #4: Scaling value with data and artificial intelligence

While AI has figured prominently in the last two or three year-end predictions, 2021 is when banks will go from experimenting with AI to generating real business value from it. This is the first time they will earn value from AI across the front, middle and back office – by reducing fraud, increasing efficiency and productivity, refining understanding of customer behavior, or targeting products and promotions at the right customers. In the new year, banks will scale AI solutions beyond RPA use cases to improve the business, add revenues and lower costs.

Trend #5: Scaling distributed ledger technology

Like AI, distributed ledger technology will also emerge from the experimentation stage to deliver business value in the coming year. An important example of value creation is inter-organization automation. Being highly secure, transparent and cost-effective, DLT-based networks are ideally suited to carrying cross-border payments, for facilitating trade finance transactions including documentation, and even for issuing centralized digital currencies. We believe the technology promises all this and more in 2021, when not just banks but even regulators and government bodies will leverage it to digitize land records and individual identification information, or to carry out capital market transactions. In fact, a huge use case could be to use DLT to maintain Covid-19 vaccination and supply chain records around the world!

For more insights on the 10 trends that are reshaping banking in 2021, click here.

Source:
https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/the-covid-19-recovery-will-be-digital-a-plan-for-the-first-90-days

IBSi Blogs Uncategorized

January 13, 2023December 18, 2023 byadmin

How can fixed income markets optimise research?

Fixed income products are seeing a surge of interest due to uncertainty in other financial markets and in response to funding programmes set up by governments to mitigate problems created by the global health crisis.

By Rowland Park, CEO & co-Founder, and Simon Gregory, CTO and co-Founder, Limeglass

The scenario of government bonds with negative yields and huge bond-buying programmes by central banks to alleviate the economic stresses caused by the Covid-19 pandemic was not a likely situation a few months ago. Yet, financial authorities are now devising a raft of measures to help global economies remain liquid and businesses to remain operational.

In such volatile markets, the need for banks and investors to access appropriate information to generate a positive outcome is heightened. Everything from the latest news on a Covid-19 vaccine to the continued trade tensions between China and the US are impacting markets. Consequently, the ability to find and assimilate information on a broad range of topics is hugely valuable. For example, clients may want to understand both the impact of coronavirus on a specific country and that country’s new emergency monetary policies.

Yet is it always possible to quickly identify this information in your body of research?

The quality of content that financial researchers produce is incredibly high and the value of their insights to traders is significant. However, with budgets under significant pressure and research costs being separated from trading, report providers are having to work harder and smarter to demonstrate their value.

One of the key challenges is that research users often have difficulty locating all the relevant insights within the huge quantities of reports produced. This is the usual problem of information overload that every market participant suffers from. In the fixed income markets, where bonds are affected by a wide range of macro and micro factors, the problem is particularly acute. There are no easy ‘tickers’ for companies to identify these factors.

Banks produce and receive thousands of pages of research each day on everything from the global economy to political statements and share prices. This overwhelming mass of documentation can mean that key information and specific insights are not spotted.

Traditional methods of managing the influx of research, such as scrolling through an email inbox or using the ‘Control+F’ search function, are slow and only provide results that match exactly to the search term. Anything using a synonym or related phrase will be missed entirely.

This ineffective use of research represents a systematic loss of value for investors. To remedy this, research producers must maximise their output by enabling their clients to access specific, relevant details quickly. By applying technology to research reports, producers can provide a far more personalised, effective and valuable product.

Document atomisation

Fixed income participants need pertinent information at the right time to make the best decisions. So how can firms ensure that they provide their clients with only the relevant research while nullifying the prospect of fundamental information being hidden?

The key is ‘document atomisation’. With Limeglass’s technology, this means breaking down reports into paragraphs, understanding the topics they contain, tagging them with synonymous and relevant ‘smart’ tags, and mapping these within the system to provide a correlated directory for the fixed income market.

By approaching documents in this way, focused on concepts rather than specific words, document atomisation ensures that a search is not restricted simply to verbatim language results. The trick here is to understand the context of each paragraph. It is the combination of these granular smart tags that allow participants to select individual paragraphs from hundreds of documents at the click of a mouse.

As an example, let us consider what you might search for if you’re thinking of buying bonds in an emerging market economy such as Malaysia. The impact of both Covid-19 and the country’s monetary policy response would be factors. You may want to know more about the tapering of the MCO (Movement Control Order) while also looking at the success of stimulus packages such as PRIHATIN. It is unlikely that you would be aware of all the country’s financial programmes, but a simple search for ‘Malaysia COVID-19’ and ‘Malaysia Monetary Policy’ will surface all the relevant paragraphs from a multitude of documents, presented to you in one view. In providing synonymously tagged results from multiple sources, in an easy-to-access format, the context allows users to easily analyse what is relevant for their requirements.

In this way, the atomisation and tagging processes turn unstructured reports into usefully structured material, giving a comprehensive overview of fixed income for the client.

Rich Natural Language Processing (NLP) is an integral part of automating this process. Applying this linguistic branch of artificial intelligence is intrinsic in identifying the actual context of the paragraph.

Knowing all the themes, as well as having granular metrics on every topic being written opens up all sorts of interesting opportunities for maximising current research.

This technology, along with human guidance, means that new additional phrases are continually added, and ensures that a level of contextual awareness can be applied to the atomisation process. Prior to the advent of NLP technology, such tagging would have been an arduous and time-consuming manual process.

How does this help fixed income markets?

Such a methodology not only offers a relevant, detailed and convenient manner of consuming reports, but also means that the results are – by their nature – personalised to the user. In today’s complex financial industry, a one-size-fits-all approach to research cannot provide the level of relevance and detail which market participants require. With increasing capabilities for using technology, a lack of personalised output is a loss of opportunity.

A firm may know what areas of fixed income their clients are interested in, but if there is no ability to only surface or distribute the precise topics the readers are interested in, the material will be of limited value and may not be read or fully appreciated. In disseminating specific paragraphs, the time and cost savings bring extensive benefits to both the firm and its clients.

With this technology, the recipient can assess the relevance of any fixed income reports much more quickly, and in so doing, the consequence is an enhanced relationship between the research producer and the client.

A personalised flow of information will lead to better informed fixed income trading decisions. Moreover, the process provides a competitive edge for research firms and thereby leads to business success.

IBSi Blogs Uncategorized

January 13, 2023December 18, 2023 byadmin

SymphonyAI: Banks are savvier than FinCEN headlines reveal

By Ishan Manaktala, Partner, SymphonyAI

The FinCEN leaks this year understandably resulted in an immediate fall in the market and continue to have the industry scrambling as quietly as possible to improve their internal fraud detection to both ward off criticism and the possibility of more vigilant government oversight – and penalties.

The hot question, but the wrong one, is how seriously banks treat fraud. It’s foolish to pretend that criminals don’t use and abuse banks. The clear fact is that criminals try to launder money, and the banks try to detect these criminal efforts. Banks attempt to find patterns in suspicious activity. However, applying yesterday’s patterns to today’s crime is tough. The criminals, like counterfeiters or doping athletes, are always working to stay several steps ahead of the ability to catch them.

Bringing a knife to a gunfight

The financial criminal is incredibly innovative in findings ways to penetrate the system, to hide in plain sight. Money laundering for drug cartels, human traffickers, dictators, tax evaders and crony capitalists are far more sophisticated than the 1930’s persona of Bonnie and Clyde, robbing gas stations and small-town banks. Banks are brining knives and spears via legacy outdated systems to a gunfight of predictive modelling and machine learning.

The central point is – financial institutions fail in their efforts to fight fraud and money laundering if they go about it in a fundamentally archaic way – using manual methods and 20-year-old software. This sadly is too often the case today, as the FinCEN files revealed.

Investors, customers and regulators will be sceptical of bank officials’ statements touting more of the same, as they look to strengthen their reputations. More of the same means more automated systems spotlighting potentially risky transactions. But that only leads to false positives ever more inundating the same number of investigators at high volumes, making it harder to identify the real bad actors. More chaff, same wheat. A lot more hay, same number of needles.

Banks sending too many SARs is not the central issue. The volume of SAR’s is increasingly perceived as a mechanism for the banks to get regulatory cover. In fact, sending more reports may not mean more crime; the question is what crime is caught. Right or wrong, a future proliferation of FinCEN-like leaks will result in banks being blamed for excessive SARs. The real issue is finding truly criminal behaviour, so the regulators and police can act swiftly to catch the bad actors. Less hay, so you can find the needles.

I speak from past experience. As the former global head of trading analytics at a global bank, I can tell you that bankers know the problem on their hands. But it’s a question of where to direct energy and talent when challengers spring up everywhere.

As a current investor in the FinTech industry and board member of enterprise AI firm Symphony AyasdiAI, I’m putting my money literally on the potential of AI being able to digitally transform this dusty corner of banking, leading to a dramatic reduction in financial crime. Ultimately this benefits all of us.

Institutions can do this, given time, and I’m confident that they will – banks are savvier than recent headlines might lead you to believe.

Where is AI today?

Advanced AI software can indeed find the real financial criminals and correspondingly reduce false-positive SARs. Trials show false positives can be driven down 60 per cent. It is powerful to the point that banks can resist suspected money laundering far beyond what’s mandated by regulators. They can use AI proactively to raise their positive perception among investors and current and potential customers while avoiding reputational risk.

The question is, can banks both bring more digital access to customers and upgrade their data processes to stop fraud and money laundering? Do they have the agility and an efficient cost model to drive the change management for both simultaneously?

Change is hard. Major financial institutions resist fundamental, sweeping changes with good reason. Implementing new technologies can bring backlash. Large alterations such as introducing digital AI solutions to combat fraud and money laundering can be anathema to the old guard. Customers, as well, tend to cast a speculative eye toward promised fixes with a fear that operations could go spectacularly wrong. But the alternative is worse: the crime keeps going, and gets more sophisticated every year.

The alarm should be not of AI but of customers making hasty retreats due to the failure to activate new technologies. Institutions that do not embrace AI technology should rightfully fear colossal hacks and a slew of bad headlines followed by significantly damaged reputations and investors taking cover.

Yet not many will embrace this change, and as quickly as necessary. Those who cannot adapt will not survive. The criminals are virtually challenging the banks, “Catch me if you can?”. The market is watching like hawks to see who will win.

Ishan is a partner at operating company SymphonyAI. At Deutsche Bank, Ishan was the global head of analytics for the electronic trading platform. Prior to SymphonyAI, Ishan was COO of CoreOne Technologies.

IBSi Blogs Uncategorized

January 13, 2023December 18, 2023 byadmin

Credit Risk versus Fraud Risk

Credit risk and fraud risk are often discussed in relation to one another but in truth, determining an individual’s fraud risk is not the same as determining their credit risk. An evolving fraud landscape with increasingly sophisticated methods requires new tactics for mitigating fraud risk. This means moving away from the old, rigid credit risk assessment tactics.

By Beth Shulkin, VP Global Marketing, Ekata

In the 1980s and early 1990s, the traditional method for determining credit risk was based on data tied to consumer credit histories, and only done for mature credit markets. This information was used by the government to identify the correct person for payments, such as welfare, social benefits, wages, and stimulus checks. Banks and other financial institutions also leveraged this data to process account openings and assess loan worthiness. Credit data was essential for preventing mispayments, flagging individuals who do not pay back their loans, and more.

Beth Shulkin of Ekata on Credit Risk vs Fraud Risk — Beth Shulkin, VP Global Marketing, Ekata

When the tech boom occurred in the mid-1990s and e-commerce began to take off (as well as digital fraud), companies turned to a method they were already using to determine credit risk and prevent fraud – using namely credit data. By utilising easily accessible information like addresses and ZIP (post) codes, the companies could determine if an individual making the purchase was real. However, the massive number of security breaches that occurred in the 2000s, including Equifax in 2017, compromised much of this credit data. Non-fraudulent customers trying to make valid purchases were often flagged as risky, even if they were perfectly legitimate customers, leaving money on the table for businesses and creating unnecessary friction for buyers. According to Gartner there is a greater than 50% chance that an individual’s credit data is already in the hands of a cybercriminal. With this in mind, businesses are finding new ways to determine creditworthiness.

Fraud Assessment to Determine Risk

Modern businesses are leaving behind old, rigid credit risk assessments, and are turning their attention to new approaches for determining the probability of fraud risk. This assessment leverages new types of dynamic personally identifiable information (PII) to make a risk assessment, and new technologies (such as machine learning) to help organisations anticipate the behavior of potential fraudsters.

There are three ways this type of analysis is helpful for businesses:

It eliminates friction in the digital customer journey: Credit risk makes a determination based on a set threshold. For instance, customers must meet a certain credit score in order to be eligible. Fraud risk looks at the likelihood that a bad actor is behind the digital interaction. Using a probabilistic approach to risk assessment for digital fraud can help businesses move away from utilising rigid, friction-filled deterministic methods to fight digital fraud. This creates a smoother process for good customers while also flagging suspicious online activity and protecting the business.
It provides a more comprehensive assessment: The PII used for credit risk analysis is based on static information (social security numbers, government IDs, phone numbers, etc.) most of which has been compromised. While the information used in probabilistic fraud risk analysis utilises dynamic PII and more importantly the links between those attributes and how they behave online. Dynamic PII moves beyond credit history determinations and instead looks at device ID, IP, emails, consumer behavior, metadata, and biometrics, to get a better sense of the customer risk. By evaluating the multiple dynamic linkages between these elements, organisations can learn how consumers are behaving online and provide a more comprehensive assessment of risk in fractions of a second.
Extends beyond border limitations: Another issue with using only a deterministic approach with credit data is that it resides in country-based silos in only around 20 mature credit markets, making it difficult for businesses to evaluate risk internationally or across borders. Dynamic PII elements can circumvent this issue and be leveraged with a consistent data format around the world to assess risk.

A rigid, deterministic approach was useful for fraud detection when e-commerce was in its infancy, but in today’s world, it simply isn’t sustainable. More than 70% of consumers say account creation should be instantaneous. An overwhelming majority also expect a fast, frictionless experience while also getting one that is as trustworthy and secure as possible. As data breaches continue to compromise customer’s credit information, it’s imperative that organisations move beyond traditional risk analysis and shift toward new ways to protect themselves and their customers. Dynamic PII used through machine learning is the future of fraud analysis, and by utilising a wider breadth of data, businesses can enable a quick and easy process for their good customers while mitigating risk.

January

Jitterbit: Four trends shaping the financial industry’s resilience in 2021

Regulatory Reporting – The current landscape and emerging trends

A purpose-driven banking for the post pandemic world

Let’s talk about LIBOR

SIX: Trading in 2020 and hopes for 2021 – the view from Zurich

Lending, Leasing & Asset Financing in a post COVID-19 World

Banking Business and Technology Trends 2021

How can fixed income markets optimise research?

SymphonyAI: Banks are savvier than FinCEN headlines reveal

Credit Risk versus Fraud Risk

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