The “world’s most important number” is to be phased out by the end of 2021. Slow motion or inaction aren’t definitely desirable, but teamwork instead. It’s hard to overstate the significance of the transition from LIBOR to alternative reference rates. While organisations around the world have begun preparations for this …
One day, banks will perish. You know, the big building where bankers attend customers face-to-face and a large set of services is delivered. Even the ones that have implemented an end-only digitisation model will disappear. One day. More and more, customers don’t like cosmetic fixes, when banks design an appealing …
There are interest rate indices, and there is LIBOR. There are numbers, and there is LIBOR. In fact, you can even find articles referring to it as “the world’s most important number”. But what is this index the business community is increasingly talking about? By the end of 2021, …
Julia Gillard, who served as the 27th Prime Minister of Australia and Leader of the Australian Labour Party from 2010 to 2013, once said “Our future growth relies on competitiveness and innovation, skills and productivity. These in turn rely on the education of our people.” While Julia has a valid …
In a year marked by the enforcement of several regulations, banks have their hands full. Investor protection (MiFID II), online payment innovation (PSD2), clients’ data privacy (GDPR) are among the regulations 2018 has seen being enforced. The banking sector is also undergoing a significant change when it comes to internal …
The PSD2 is the revision of the first Payment Services Directive (PSD) that the European Commission adopted in 2007. It aims to regulate the activities of payment service providers and to create a harmonised framework across Europe. With this new regulation we expect an increase in the number of providers …
We had the opportunity to exchange ideas about the reality, trends and future of the bank industry some weeks ago, during the Banking Day 2018. We decided to call the event “Banking on the move: embracing new dynamics” because of the ongoing transformation all financial services firms go through. With …
Digital banking can give a boost to bank’s bottom line. When transactions are done on a mobile app instead of in a branch, they can be dramatically cheaper. They can also generate more revenue from clients who manage their money with a smartphone, tablet, or PC. But not all banks …
With MiFID II now in full swing, anyone buying or selling stocks, bonds, foreign exchange, commodities or exchange-traded funds is now affected by the new standards. Improving investor confidence while strengthening the industry don’t come for free. On top of revising costs and charges, the Directive brings more choice and lower …
The revised Payments Services Directive (PSD2) goes into effect in Europe in January 2018, but few banks are ready. By law they will need to make customer data available in a secure manner, and eventually to give third-parties access to their customer’s accounts. But equally important to these compliance efforts …
