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digital transformation strategy

We live in an age of unprecedented digital convenience of comfort food, online retail, and on-demand transportation. Our customers, also the consumers of these services, continually reset their expectations from digital banking services based on their experiences in other industries. What’s more, banking is not only at the center of all this incredibly fast digital exchange but also a key enabler that cannot afford to miss a beat. Banks looking to make a mark in this digitally accelerated universe that is our lives must be truly digital. Being truly digital requires instilling speed and adaptability in every aspect of the business.

Against this backdrop, all banks have embarked on a digital transformation journey in some form or shape. However, despite elaborate strategies, few banks can be said to be truly digital. Not that banks are not providing digital banking services today, but how agile they can be and how quickly they can offer new digital services and experiences in the future is the litmus test and mark of a digital bank. The starting point towards this end state is a clear definition of what being truly digital means. And no definition is complete without a discussion about customer engagement.

The prescribed approaches

The spectrum of approaches available ranges from cosmetic fixes such as new channels for old services to digitizing the entire infrastructure.

New digital banking channels integrated with and built over legacy systems can ultimately be only as good as the backend systems. Even the most digitally optimized channel approach or architecture is limited by the efficiency (or lack thereof) of the underlying systems. For example,…

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Banking

The Energy Week Armenia-2018 international conference was held recently in Yerevan, Armenia, with the participation of a number of international financial organizations, vendors and investors, as well as government members, local organizations and banks. ArmSwissBank CJSC was one of the sponsors at the event, which was not coincidental. With its approach, peculiar to corporative and investment Banks, ArmSwissBank has always emphasized cooperation with non-traditional, new-emerging business sectors in Armenia’s economy. Currently the Solar energy production is considered to be one of the fastest burgeoning branches. The amends in the corresponding legislative law and the current favorable financial environment have contributed to the rapid development of the sector. Focusing on the need for alternative energy production and the introduction of energy efficient technologies in Armenia, it is ArmSwissBank’s strategy to pursuit cooperation with organizations who are attracted to this industry.

Armenia has experienced similar dynamic bloom almost 10 years ago when small hydropower plants were being built in Armenia. Back then, ArmSwissBank has cooperated closely with that sector’s developers as well. In 2009, the bank financed the first HPP project, and it continued to finance a number of enterprises in hydropower sector, reaching the number of partners working in HHP sector to up to 32. The total installation capacity of the project financed by the Bank is approximately 60 MW/h. Our HPP partners produce around 286 million KW/h energy, annually. The provided financing amounted is to about…

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Hasnain Qazi

Congratulations on your award-winning success. What differentiates Huxley from other recruitment firms?

In the Middle East and North Africa (MENA), it’s the sheer size, scale and volume of our operations that truly sets us apart. For instance, we have the largest headcount amongst all banking and technology search firms in MENA. Beyond that, we partner with more than 60% of all financial institutions in region. From a diversity perspective, we employ and empower women where recruitment was traditionally seen as a male dominated industry. In fact, almost 70% of our team are women. And lastly, our constant goal of improving our customers’ experience is evident through our Net Promoter Score (NPS) programme that allows our customers to be involved by rating our services. This has helped us to adapt our systems, processes and behaviours which we have since seen significant improvements in our overall NPS scores. Our team has consistently maintained one of the highest NPS scores globally by constantly improving the service we provide.

What are the biggest challenges and opportunities facing the industry at the moment?

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How to Insulate Your Wealth from a Correction

By Dale Gillham

Investing in the stock market is one of the most powerful strategies you can use to accelerate your wealth. Although, in my experience, a common theme among those who do invest is a firmly held belief that all they need to be successful is a superb set of trading rules.

If fact, ask anyone who trades the stock market if they know how to buy a stock and, chances are, 100 percent will say yes. Ask those same people if they know the right time to sell a stock, and 90 percent will say either no or that they get it wrong most of the time. Unfortunately, the reality is that most are focused on achieving quick returns rather than developing the strategies that will enable them to build long-term wealth.

In my book, one of the key criteria of astute investing is to consider when and how you will take your profits—in other words, you need to consider your exit strategy before you invest. Because trading is not about how much money you can make; it is about how much you do not lose over time.

Given the recent speculation of late that the stock market is likely to crash, there is no better time to learn how to protect your capital. Although, let me say while I believe the market is due for a correction, I do not believe it will crash. That said, irrespective of the direction of the market, it is important to always use sound money management strategies, so in this article I will share with you some simple but powerful strategies you can start using straight away.

Don’t buy stocks that are falling in value

In my experience, I find that when a market is falling, most investor’s make errors in judgement that result in costly mistakes.

As the price of a stock falls, its dividend yield rises and, therefore, becomes more attractive to investors seeking dividends for income or…

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