A year ago, the Financial Conduct Authority (FCA) introduced the Consumer Duty standards, a set of rules which aimed to improve and increase consumer protection for the financial sector. These required banks and other financial services firms to prioritise their customers and offer them products and services with transparency and fairness. Failure...
31 July 2024 /regulation Financial Services Regulation
Process mining is not a new phenomenon as financial services institutions have typically done some level of this when they are looking at ways to transform their sales and service operations and create efficiencies. But there is still some untapped potential here for banks and other financial services institutions. Starting with understanding wha...
22 July 2024 /payments Banking Strategy, Digital and Transformation
The invasion of Ukraine passed its second anniversary recently and with that, sanctions have been revised and updated against groups or individuals linked to Russia and its allies. For example, the UK government added 50 new sanctions while the US continuously reviews and expands its own lists. Now the Biden administration is suggesting that finan...
03 June 2024 /payments Banking Strategy, Digital and Transformation
Personalised offers for products and services and timely advice for financial and wealth management, especially with the cost-of-living crisis, are all examples of banks offering tailored services to their customers. Traditionally, financial institutions have delivered this level of service through face-to-face interactions in physical bank branch...
20 May 2024 /ai /people Artificial Intelligence and Financial Services
While I did not go there to work in a bank, I ended up in senior operations and change leadership roles for the lending business of ANZ, one of Australia’s biggest banks, for nine years. What I experienced there has informed how I see technology enabling transformation and left me considering how Australian banks absorb technology can offer lesson...
14 May 2024 /retail /markets Banking Strategy, Digital and Transformation
As we steam ahead into 2024, while banks experiment with generative AI, they also need to be aware of how regulators will scrutinise how they use AI. Of specific concern is how the impact of the EU’s AI Act on banks’ AI ambitions will become much clearer over the coming months. The EU AI Act, which will become enforceable during 2025, is the wor...
15 March 2024 /regulation Artificial Intelligence and Financial Services
White label banking is evolving from how it used to be a single-threaded product offer, to a broader and deeper banking as a service or embedded banking using modern technology. This concept of buying a set of pre-built technologies and services to enable a non-bank to provide financial products has caught the imagination of the industry for severa...
09 January 2024 /people /cloud Banking Strategy, Digital and Transformation
The transformative potential of generative AI for the banking sector was a subject we keenly explored earlier in the year. With the whirlwind advancements in the technology sector, six months can feel like a lifetime. It is worth taking a moment to look back and assess how generative AI has shaped and influenced the banking industry. The crux of ...
12 December 2023 /regulation /devops Artificial Intelligence and Financial Services
Modernising banking infrastructure can be a daunting and expensive process. Even though many banks want to digitally transform, only 30 percent of those report that they have successfully implemented their digital strategy. Mind the traps It is true that many digital transformation endeavours fail no matter what industry because these businesses ...
25 October 2023 /devops Banking Strategy, Digital and Transformation
The reputation of blockchain has taken a severe beating in recent years. The spectacular collapse of FTX, plus how regulators are turning against crypto currency businesses built on blockchain technology seems to be toxifying the technology for traditional financial services businesses. However, running away from using blockchain because of the ...
18 October 2023 /regulation RegTech
Nancy WeirIndustry Principal at Pegasystems
Fabio UrsoDirector - Industry principal - CLM and KYC at Pegasystems
Adam KrugCLM Ambassador at Pegasystems
Chiara GelminiIndustry Principal Director - Customer Risk & DD at Pegasystems
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.