Current Trends

Outsourcing in the Banking Sector

Background: Outsourcing has been around for centuries, however, only recently banks are just discovering how it can empower overworked staff and bring added value for both the banks and the customers. Additionally, banks started to perceive outsourcing as an option of great potential in helping them address some of the …

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Customer Lifetime Value (CLV) for Banks

Background: In today’s customer-centered economy, focusing on short-term customers is an outdated business model. Instead, banks must foster every customer relationship to increase retention and customer lifetime value (CLV).  Determining the profit – or loss – potential of each client is essential if the bank is looking to keep the bottom …

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Customer Onboarding in Banking

Concept: Customer onboarding is the process a bank undertakes when bringing a new business customer onboard. Onboarding new customers involves gathering vital information on the customer and conducting identity checks to comply with KYC regulations. Customer onboarding is the first step in the customer journey and the most important one. …

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The Future of Consumer Banking: Augmented Reality & Virtual Reality

Background: Banks are undergoing a massive transition with the rise in digital banking, to get the next generation of tech-savvy individuals on their platforms through various means. As expectations and customer demands are always increasing, banks need to find ways of keeping up to meet their clients’ needs. This is …

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Microlearning: The Future of Learning

Background: Today’s businesses’ dynamics is so fast paced; competition has been accelerating in the global technological revolution. Furthermore, Covid- 19 has been adding to the speed of the technological dominance. Microlearning is one of the effective solutions that had been adopted by the learning and development departments and entities to …

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Purpose Driven Banking “Benefiting Together Mentality”

Background: Trust in the banking sector was shaken by the 2008 financial crisis, reinforcing many consumers’ suspicions that their and their banks’ interests were divergent if not opposed. Recently, COVID 19 pandemic has made a profound impact on banks; in addition to managing their own businesses, transmitting government relief packages, …

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Banking as a service ( BaaS)

Concept Banking as a service also known as (BaaS), is an on-demand service developed by a licensed bank, implying that fintech startups and non-banking organizations (third parties) connect to a bank’s system through APIs. It’s done to enable third parties to create their own new banking services and offerings by …

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The future of retail banking: Hyper-personalisation

Background The Covid-19 pandemic has accelerated the digitalization that has been in the making and caught up many years of development in just a couple of months. The unwillingness of customers to use branches during lockdown has increased the usage of digital channels tremendously. Over the last decade, banking institutions …

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Reshaping the Workforce: Reskilling

Background and Importance How leaders can reshape the workforce to deliver new business models?  This is a question that business is facing, a situation the finance world is fronting since technology started to disrupt the sector, dramatically. In the banking sector, new digital technologies, such as automation and artificial intelligence, …

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The New Normal in Banking

Background COVID-19 pandemic is one of the most serious events affecting the economy and the banking sector in the century. However, unlike the financial crisis of 2008/2009, this time the banks were not the cause of the problem, but they were part of the solution. During the lockdown, arrangements were …

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