Tom Spencer

AUGUST 16, 2024

Despite many current applications being small-scale pilot projects, the promise of Gen AI to revolutionise banking operations and enhance customer experiences is becoming clear. This helps banks to quickly identify profitable investment opportunities and risks so as to maximise investment returns and minimize losses. Risk Management 3.1

Banking 78

Banking Financial Operations Data 78

Tom Spencer

AUGUST 30, 2024

While Gen AI holds big promise for banking , most of the current deployments are limited to just a few areas or don’t go beyond the experimental phase. Though early pilots appear impressive, it will definitely take time to realize Gen AI’s full potential for the banking industry. Five Challenges for AI in the Banking Sector 1.

Banking 88

Banking Ethics System Data 88

Harvard Business

NOVEMBER 22, 2016

Smart, always-connected devices and anytime/anywhere interactions are now givens, particularly among millennials, who expect such conveniences in banking and financial services. Mapping this group to its customer base, the bank can make targeted offers to customers who could be in the home or auto market in the next 30 to 90 days.

Banking 116

Banking Data Financial Media 116

Tom Spencer

JUNE 16, 2018

Before we dive into why AI is the solution for the banking sector, let’s first explore what big tech companies have in common, how many of them have grown successfully, and what banks can learn. Usage of AI in the Banking Sector. Table 1: AI applications across Canadian and US banks (Source: Financial Post, Techemergence).

Banking 84

Banking Financial Transportation Data 84

BCG

JULY 5, 2016

For all the angst over the disruptive impact of financial technology providers, the smart money in corporate banking sees fintechs as strategic allies, not enemies. Over the past decade, the fintech market has become a hotbed of customer-centric banking innovation.

Banking 75

Banking Small Business Finance Operations 75

Harvard Business

MAY 7, 2018

This confusion originates in the fact that for older forms of money — gold or bank notes — there is no distinction between the “what” and the “how”; you simply pay by handing dollar bills or gold coins to the seller. This made traditional banks in the U.S. This made traditional banks in the U.S.

Banking 73

Banking Financial System Efficiency 73

Harvard Business

OCTOBER 31, 2017

Just over 10 years ago, French bank BNP Paribas froze U.S. There was a run on British bank Northern Rock. Over the next year, many banks fell. Investment bank Bear Stearns collapsed. We expect investment banks to embark on an even more fundamental makeover during the next decade. The New Face of Investment Banks.

Banking 71

Banking Balance Sheet Financial Finance 71

Tom Spencer

NOVEMBER 9, 2019

The Business of Banking. Banks are intermediaries for capital and hold the risk when supply and demand is not perfectly balanced. Commercial Banking. A bank, on the other hand, can diversify this credit risk and reduce the average cost of vetting each loan by lending to many borrowers. Investment Banking.

Banking 12

Banking Industry Balance Sheet Retail 12

Clarity Consultants

JUNE 30, 2023

What are the Benefits of Learning & Development Programs for Organizations When you’re spending the time and money training employees, you want to ensure that you’re getting the best bank for your buck–that’s where learning and development programs come in. Why is a reduced turnover rate so important, you ask?

Development 265

Development Training Training Agile 265

Harvard Business

OCTOBER 10, 2018

The consumer banking industry is notoriously difficult to enter, not least because most customers rarely switch banks. In some countries, people change spouses more often than they change banks. It has now become the largest bank in the country. These areas were underserved by the traditional banks.

Banking 70

Banking Industry Insurance Insurance 70

Tom Spencer

NOVEMBER 5, 2016

When news broke in late October that some of London’s largest banks were investing in Bitcoin , cryptocurrencies in general got another boost. Beyond hoarding digital currency as a defensive move in the age of DDOS bank robbers, banks are beginning to think about ways that bitcoin could be used within the banking industry globally.

Banking 60

Banking Report Industry Finance 60

Harvard Business

JANUARY 20, 2017

Much has been made of the fact that a new breed of financial technology (or fintech) companies is unbundling banks in the developed world. Startups are attacking all of the components of the traditional bank value proposition (e.g., Lack of Infrastructure and Efficient Cloud Services. Sidian Bank in Kenya has a similar program.

Banking 70

Banking Company Financial Finance 70

Harvard Business

FEBRUARY 21, 2017

But this is the story of how a group of bank examiners at the Federal Reserve Bank of Philadelphia, one of 12 banks in the U.S.’s The 250 people in the supervision, regulation, and credit group at the Philadelphia bank supervise the commercial and retail banks based in their district.

Banking 132

Banking Training Training Report 132

Harvard Business

MARCH 28, 2018

bank CEOs who were born in the U.S., banks between 1994 and 2006. The banking industry experienced a series of profound competitive shocks in the 1990s. The one we used was the Interstate Banking and Branching Efficiency Act (IBBEA) of 1994 that legalized interstate branching in some U.S. For instance, U.S.

Study 121

Study Banking Culture Groups 121

Harvard Business

MARCH 30, 2017

The value of bank branches, for example, is no longer to manually process deposits, but to solve more complex customer problems like providing mortgages. Once a task becomes automated, it also becomes largely commoditized. Value is then created on a higher level than when people were busy doing more basic things.

Efficiency 70

Efficiency How To Energy Accenture 70

Harvard Business

FEBRUARY 19, 2018

When a nationwide retail bank introduced online banking, customers who adopted it increased their total transaction volume and began visiting and calling the bank more , increasing costs and decreasing overall profitability. Service can be more efficient and satisfying when customers and employees are visible to one another.

Banking 134

Banking Efficiency Retail System 134

Harvard Business

JUNE 13, 2018

health care firm, for example, had over the years stripped a process down to the minimal viable steps to achieve efficiencies. With changes like these, a process enabled by RPA can become much more efficient and effective than a process that is automated but otherwise unchanged. billion customer journey transformation program.

Company 137

Company Process Improvement Case Interview Banking 137

Tom Spencer

JANUARY 4, 2025

In aB2Bcontext, your USP might focus on efficiency, cost savings, or technical performance. She has a strong passion for strategy consulting, investment banking, business, and entrepreneurship. Find your Unique Selling Proposition As a founder, what are the distinct features or benefits that allow you and your brand stand out?

Marketing 88

Marketing B2C Video Media 88

BCG

NOVEMBER 7, 2016

The most prominent CM fintechs have been strongly supported and engaged by the CM ecosystem, which includes players such as investment banks, custodians, exchanges, clearing-houses, and CM-focused information service providers. They also enable disaggregation of the value chain as they become more embedded in the supply chain.

Marketing 110

Marketing Banking Financial Industry 110

Consultant Ninja

MARCH 31, 2009

Heres my understanding of the current TARP/TARPII/PPIP/etc plans: The major "sick" banks wont lend to businesses, because their balance sheets are tied up with bad assets that they cant sell. The government will buy those assets, freeing up the major banks to loan again to businesses. The question would be: which bank is not sick?

Balance Sheet 100

Balance Sheet Marketing Banking Consulting 100

Harvard Business

MARCH 15, 2018

We analyzed companies’ debt-to-equity ratio, equity ratio, risk buffer, property mortgage or the mortgage of the venture’s real estate ratio, the use of bank overdraft facilities/approved checking account ratio, and long-term liabilities or loans ratio. Risk-taking. Underperformance.

Data 130

Data Real Estate Finance Financial 130

Tom Spencer

OCTOBER 10, 2020

Since the advent of Bitcoin in 2008, digital currency has been a growing trend and a growing area of interest for consultants, businesses, fintech investors, central banks, and governments. Digital currency vs electronic banking. Another difference is that electronic banking involves interacting with the banking system.

Banking 120

Banking Financial Government Retail 120

Harvard Business

JUNE 14, 2017

Data is not always shared efficiently. Another example comes from Royal Bank of Scotland (RBS). The company went through a transformation focusing on becoming a more trusted advisor to the customer than a typical bank would be. For example, analytics helped the bank identify customers that were in need of financial advice.

Data 127

Data Banking Sales Accenture 127

Harvard Business

JUNE 22, 2016

FinTechs are internet companies that streamline financial systems and make funding the supply chain more efficient. They include new enterprises such as Orbian , Prime Revenue , C2FO , Taulia , and Ariba as well as new operations launched by traditional financial service firms such as Citi Group, HSBC, BNP Paribas, and Deutsche Bank.

Transportation 129

Transportation Finance Financial Banking 129

Harvard Business

JULY 7, 2016

The war certainly has prevented an efficient economic structure, forcing many Colombians to be inward-looking. Banks often are unwilling to take the risk of financing small and midsize companies. TFP, a measure of efficiency of labor and capital inputs, has actually declined for the past seven years.

Tourism 125

Tourism Government Finance Efficiency 125

Tom Spencer

APRIL 28, 2023

Central Bank Digital Currencies (CBDCs) are a new form of digital currency that will be issued and backed by central banks. While CBDCs and bank deposits can both be transferred digitally, there are at least five key differences between CBDCs and bank deposits that are worth being aware of.

Banking 88

Banking Financial Policies System 88

BCG

MAY 9, 2016

Despite a tentative financial recovery, the retail-banking industry faces unrelenting, disruptive challenges. Banks that hope to prevail must urgently pursue digital simplicity. That mandate for digital simplicity is the central insight emerging from the research behind this sixth edition of BCG’s annual Global Retail Banking report.

Banking 40

Banking Retail Benchmarking Report 40

Tom Spencer

JUNE 9, 2023

More Efficient Operations AI enables businesses to automate repetitive and time-consuming tasks, freeing up human resources to focus on more complex and strategic activities. Robotic Process Automation (RPA) is becoming widely adopted to automate manual processes, reduce errors, and increase efficiency.

Data 147

Data Operations Efficiency System 147

Management Consulted

AUGUST 1, 2013

Corporate and Institutional Banking. Retail and Business Banking. All degrees are welcome to apply, but the firm attracts those with a demonstrated interest in banking, finance, and business administration. This focus on efficiency is a major defining characteristic of the high-performance culture at Oliver Wyman.

Oliver Wyman 201

Oliver Wyman Interviews Mercer NERA Economic Consulting 201

Harvard Business

MARCH 22, 2018

My perspective and approach to misconduct risk are influenced by my work as a bank supervisor, and by my background and training as an economist. In my view, bank supervision must include attention to the culture at financial firms, not just to their financial safety and soundness.

Culture 133

Culture Company Financial Banking 133

Harvard Business

NOVEMBER 8, 2017

While the ability to authenticate identity was now digital, bank accounts and payment systems were still paper-based — requiring separate and laborious Know Your Customer validation procedures that had the result of continuing to exclude a majority of the people in India from accessing the benefits of banking.

Government 134

Government Banking System Policies 134

Harvard Business

MARCH 6, 2017

Let’s start by examining the potential effects of this on an industry that touches all of our lives – banking. The banking industry is filled with shared resources. Instead, the technology itself would do the heavy lifting of uniting the interests and business processes of the member banks.

Banking 134

Banking Accenture Industry Productivity 134

BCG

JUNE 16, 2016

Digital technologies are reshaping the banking industry at an unprecedented rate, generating waves of fresh opportunity and potential peril for traditional banks. Digital has increased customers’ expectations for greater efficiency, quality, and speed, and it has opened the door to new competitors and disruption.

Banking 40

Banking Industry Efficiency Productivity 40

Harvard Business

DECEMBER 14, 2018

When a bank suffers a physical robbery, we do not think of blaming and shaming it – even though there is almost always some additional precaution the bank could have taken that might have helped prevent the attack (such as a police officer stationed at every teller window or limiting customer access to tellers).

Government 126

Government Data Banking Company 126

BCG

MAY 9, 2016

BCG’s Retail-Banking Excellence benchmarking study (REBEX) profiles the operational and digital practices and performance of 20 of the world’s leading retail banks, a group of 40 institutions chosen for their size and the strength of their capabilities. We refer to these banks as the “premier league.”

Operations 40

Operations Retail Banking Benchmarking 40

Harvard Business

JUNE 6, 2018

The partnership has been a triumph of efficiency — a win-win for the cultural climate of Judson and often-stretched student bank accounts. In a similar vein, a new group of innovators is finding efficiencies not in separating people by age but by bringing them together. But something else has happened.

Education 136

Education Efficiency Study Hotels 136

BCG

AUGUST 30, 2016

International trade has tripled as a share of global GDP since 1945, and banks have done well from it. Documentary trade, traditionally facilitated by letters of credit (LCs) issued by banks, is steadily being replaced by open-account trade. Banks must be prepared to respond to rapid changes in the quantity and location of demand.

Finance 74

Finance Banking Agile Efficiency 74