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Global Banking & Finance Review Awards 2012

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Global Banking & Finance Review Awards 2012
Banking Awards 2012
Best Wealth Management in Hong Kong 2012 DBS Bank ( Hong Kong ) Limited
Best Bank Angola 2012 Standard Bank Angola
Best Commercial Bank Saudi Arabia 2012 SABB
Best Bank Qatar 2012 Doha Bank
Most Innovative Bank In Middle East 2012 Doha Bank
Best Bank in Turkey 2012 Akbank T.A.S.
Best SME Bank Singapore 2012 OCBC Bank
Best Bank In Nigeria 2012 Zenith Bank
Best Investment Bank In Mexico 2012 Banco Interacciones
Best Government & Infrastructure Financing Bank In Latin America 2012 Banco Interacciones
Best Private Bank Canada 2012 BMO Harris Private Banking
Best Corporate Bank In Kuwait 2012 Burgan Bank
Best Banking Group in MENA 2012 Burgan Bank
Best Corporate Trust Bank United States of America 2012 Union Bank
Most Progressive Private Bank Switzerland 2012 Falcon Private Bank
Best Custody Bank In The Mediterranean 2012 Laiki Bank
Best Investment Bank Angola 2012 Banco Privado Atlântico
Most Progressive Bank Angola 2012 Banco Privado Atlântico
Most Progressive Money Remittances Bank Kyrgyzstan 2012 Open Joint Stock Company Russian-Kyrgyz Amanbank
Best Investment Bank Panama 2012 BCT Bank International, S.A.
Best Banking Group Philippines 2012 Security Bank Corporation
Best Islamic Retail Bank Asia 2012 Maybank Islamic
Best Mid-Market Bank Brazil 2012 Banco ABC Brasil
Most Innovative Bank Brunei 2012 Bank Islam Brunei Darussalam
Best Retail Bank Brunei 2012 Bank Islam Brunei Darussalam
Best Retail Bank Cambodia 2012 ABA Bank
Best Trade Finance Provider Colombia 2012 BBVA Colombia
Best Project Finance Bank Colombia 2012 BBVA Colombia
Best Micro Finance Bank Georgia 2012 Bank Constanta
Best ECA covered Export Finance Deal Kazakhstan 2012 Temirbank JSC
Fastest Growing Islamic Bank Kenya 2012 Gulf African Bank
Best Commercial Bank Kyrgyzstan 2012 Kyrgyz Investment and Credit Bank
Best Bank Sultanate of Oman 2012 National Bank of Oman
Best Commercial Bank Philippines 2012 East West Bank
Best CSR Bank Poland 2012 Bank Ochrony Srodowiska S.A.
Best Islamic Bank Qatar 2012 Qatar International Islamic Bank
Best Retail Bank Russia 2012 Sberbank
Best Banking Group Sri Lanka 2012 Sampath Bank
Best Banking Group Thailand 2012 The Siam Commercial Bank
Most Innovative Retail Bank UAE 2012 Emirates NBD Bank
Best Investment Bank Uzbekistan 2012 Ansher Capital
Fastest Growing Retail Bank Vietnam 2012 Ocean Commercial Joint Stock Bank (Ocean Bank)
Most Innovative Retail Bank Vietnam 2012 Southeast Asia Joint Stock Commercial Bank (SEABANK)
Best Bank In Mongolia 2012 Khan Bank
Best Trade Finance Bank Southern Europe 2012 FIMBank
Best Bank Kuwait 2012 Commercial Bank of Kuwait
Best Commercial Bank Sharjah 2012 Invest Bank
Best Trade Finance Bank Portugal 2012 Banco Espirito Santo
Fastest Growing Bank Hong Kong 2012 DBS Bank ( Hong Kong ) Limited
Best SME Bank Hong Kong 2012 DBS Bank ( Hong Kong ) Limited
Best Bank Mozambique 2012 Banco BCI
Best Commercial Bank In Kazakhstan 2012 Halyk Bank
Best Retail Bank In Kazakhstan 2012 Halyk Bank
Best SME Bank In Kazakhstan 2012 Halyk Bank
Best Commercial Bank In Botswana 2012 First National Bank of Botswana
Best Banking Group Lebanon 2012 Fransabank Group
Best Retail Bank In Panama 2012 Banco General
Most Innovative Investment Bank in Turkey 2012 Aktif Bank
Best Structured Finance Provider in Turkey 2012 Aktif Bank
Best Corporate Bank Mongolia 2012 Trade & Development Bank
Best Private Bank In Jordan 2012 Jordan Kuwait Bank
Best Bank In Jordan 2012 Jordan Kuwait Bank
Most Innovative Bank Latin America 2012 Banchile Inversiones
Best Islamic Bank South Africa 2012 ABSA Islamic Bank
Best Bank in Australia for Settlement & Custody 2012 National Australia Bank
Best Commercial Bank Colombia 2012 Banco Popular
Best Banking Group Cyprus 2012 Bank of Cyprus
Best Corporate Bank Russia 2012 Bank Zenit
Best Private Bank Russia 2012 Bank Zenit
Best Bank on Bond Market Russia 2012 Bank Zenit
Best Money Transfer System Eastern Europe 2012 Unistream Commercial Bank
Most Progressive Bank Lebanon 2012 MEAB Bank
Best Commercial Bank Ukraine 2012 UkrSibbank
Best Trade Finance Bank Germany 2012 DZ Bank AG
Best Commercial Bank Brazil 2012 Banco Pine S.A.
Best Commercial Bank Central Europe 2012 Raiffeisen Bank International AG
Best Trade Finance Bank Argentina 2012 Banco Comfai SA
Best Bank Hawaii 2012 Bank of Hawaii
Best Bank New Zealand 2012 Kiwibank
Fastest Growing Retail Bank Kazakhstan 2012 Kassa Nova Bank
Best Bank Tunisia 2012 Banque Internationale Arabe de Tunisie
Best Banking Automation Company 2012 Wincor Nixdorf International
Best Banking Group Africa 2012 Standard Bank
Best Banking Group Liechtenstein 2012 LGT Group
Best Customer Service Bank UAE 2012 Emirates NBD Bank
Best Domestic Trade Bank Russia 2012 VTB Capital
Best Foreign Exchange Bank Saudi Arabia 2012 Samba Bank
Best Foreign Exchange Bank Vietnam  2012 Sacombank
Best Islamic Bank Kyrgyzstan 2012 Eco Islamic Bank
Best Islamic Bank Turkey 2012 Türkiye Finans
Best Islamic Finance Private Bank Switzerland 2012 Faisal Private Bank (Switzerland) SA
Best Mobile Commerce Bank Canada 2012 CIBC
Best Private Bank Asia-Pacific Region 2012 ICICI Bank
Best Private Bank Belgium 2012 Petercam
Best Private Bank Spain 2012 Banca March
Best Private Bank Andorra 2012 Banca Privada d’Andorra
Best Retail Bank Moldova 2012 Moldova-Agroindbank
Best Trade Finance Bank Brazil 2012 Banco Rendimento S.A.
Best Trade Finance Bank Chile 2012 Banco Santander Chile
Best Retail Bank Rwanda 2012 Bank of Kigali
Best Retail Bank Saudi Arabia 2012 The Saudi Investment Bank
Best Bank Jamaica 2012 National Commercial Bank Jamaica Limited
Most Progressive Mobile Commerce Bank North Eastern US 2012 PNC Bank
Best Bank UAE 2012 United Arab Bank
Best Bank Mauritius 2012 Bramer Banking Corporation Ltd
Best Bank Slovakia 2012 Tatra banka
Best Bank Bolivia 2012 Banco Mercantil Santa Cruz
Best Bank Chile 2012 Banco Corpbanca Chile
Best Bank Czech Republic 2012 Komercní banka
Best Bank Democratic Republic of Congo 2012 Standard Bank RDC SARL
Best Bank Denmark 2012 Danske Bank
Best Bank Hungary 2012 Budapest Bank
Best Bank Kenya 2012 Fina Bank (Kenya)
Best Bank Kosova 2012 ProCredit Bank Kosova
Best Bank Lesotho 2012 Standard Lesotho Bank Limited
Best Bank Namibia 2012 Standard Bank Namibia
Best Banking Group Andorra 2012 MoraBanc
Best Banking Group Latin America 2012 Itaú Unibanco
Best Commercial Bank Belarus 2012 Belarusbank
Best Commercial Bank Costa Rica 2012 Banco de Costa Rica
Best Commercial Bank China 2012 China Construction Bank
Best CSR Bank Nigeria 2012 First City Monument Bank Plc
Best CSR Oman 2012 Bank Muscat
Best Environmentally Progressive Bank Middle East   2012 HSBC Amanah
Best Environmentally Progressive Bank Western Europe 2012 Santander Bank
Best Islamic Financial Services Provider Middle East 2012 QInvest
Best Islamic Microfinance Bank 2012 Al-Amal Microfinance Bank
Best Islamic Bank Thailand 2012 Islamic Bank of Thailand
Best Microfinance Bank Mexico 2012 CompartamosBanco
Best Microfinance Bank Panama 2012 Banco Delta SA
Best Online Bank Oman 2012 Bank Muscat
Best Online Bank Philippines 2012 Security Bank Corporation
Best Private Bank Austria 2012 Erste Bank Private Banking
Best Sustainable Bank Indonesia 2012 PT Bank Negara Indonesia (Persero) Tbk
Fastest Growing Islamic Bank Tanzania 2012 Amana Bank Tanzania Limited
Fastest Growing Self-Service Banking Company in Eastern Europe 2012 CR2 Ltd
Most Innovative Self-Service Banking Solution Provider Africa 2012 CR2 Ltd
Best Islamic Bank UAE 2012 Ajman Bank
Best Private Bank Germany 2012 Hauck & Aufhäuser
Best Bank NRI Services Globally 2012 ICICI Bank
Best CSR Bank Greece 2012 Piraeus Bank S.A.
Best Paraguayan Bank 2012 Banco Continental
Forex And Broker Awards 2012
Fastest Growing Micro Broker 2012 Octa Markets Incorporated
Best ECN Broker Asia 2012 Ikon Group
Best ECN New Comer Asia 2012 CommexFx
Best Standard Forex Broker Asia 2012 Exness Limited
Fastest Growing Forex Broker Asia 2012 FBS Markets INC
Best Online Broker Western Europe 2012 Dif Broker
Most Trusted Forex Broker 2012 Ava FX
Best Binary Options Broker Russia & CIS 2012 Dragon Options
Best Forex Execution House 2012 Ava FX
Best Forex Customer Service 2012 Ava FX
Best Forex Affiliate Marketing Europe 2012 Ava FX
Best Brokerage House Egypt 2012 EFG-Hermes
Best Forex Provider North America 2012 BMO Capital Markets
Most Transparent Forex Broker 2012 MIG Bank
Best Forex Broker Asia 2012 InstaForex
Most Trusted Forex Broker Europe 2012 FXDD
Best New Platform Europe 2012 FXDD
Best Forex Order Execution System Asia 2012 UmoFX
Best Broker in Customer Services Europe 2012 Markets.com
Best Forex Affiliates Programme 2012 HotForex
Best Binary Options Customer Service Broker Turkey 2012 Optionyard
Fastest Growing Broker Russia & CIS 2012 Larson & Holz IT ltd
Best Offline Broker Russia & CIS 2012 Larson & Holz IT ltd
Best Forex Broker Russia and CIS 2012 Lionstone Investment Services
Most Transparent Forex Broker Eastern Europe 2012 Lionstone Investment Services
Best Forex Rewards Program Asia 2012 UmoFX
Fastest Growing Forex Broker 2012 Lionstone Investment Services
Best Online Trading Educator 2012 Academy of Financial Trading
Best Forex Provider China 2012 BMO Capital Markets
Best Online Trading Platform Saudi Arabia 2012 FALCOM Financial Services
Best Trade Executions 2012 FXPrimus
Most Reliable Broker Asia 2012 FXPrimus
Fastest Growing Forex Broker Middle East 2012 XForex
Fastest Growing Forex Broker Europe 2012 XForex
Fastest Growing ECN Broker Eastern Europe 2012 RoboForex
Best Forex Broker Europe 2012 GCI Financial
Most Innovative Binary Options Platform Cyprus 2012 Stockpair
Best Forex Newcomer Middle East 2012 FXVV
Best Binary Options Customer Service Broker Germany 2012 Optionyard
Best Fixed-Odds Firm 2012 BetOnMarkets.com
Best Binary Options Customer Services Europe 2012 OptionsClick
Fastest Growing Binary Options Broker Europe 2012 OptionsClick
Best Forex Broker Australasia 2012 FXOpen
Best Forex Provider Africa 2012 Standard Bank
Best Binary Options Education Provider Europe 2012 iOption Binary Option Broker
Best Forex Forecast and Strategy Provider Asia 2012 FXcast
Best Foreign Exchange Bank Singapore 2012 DBS Bank (Singapore) Limited
Best Forex Management System Asia 2012 UMOFX
Fastest Growing ECN Broker New Zealand 2012 LUCROR FX
Best Forex Customer Service Broker New Zealand 2012 LUCROR FX
Most Innovative Forex Broker New Zealand 2012 LUCROR FX
Best Forex Execution House Russia & CIS 2012 FIBO Group Ltd
Best STP Broker New Zealand 2012 Blackwell Global Investments Limited
Best CFD Broker Central Europe 2012 FX Flat
Most Innovative STP Broker Asia 2012 Blackwell Global Investments Limited
Best Retail Bank Singapore 2012 DBS Bank (Singapore) Limited
Best Wealth Management Advisory Saudi Arabia 2012 FALCOM Financial Services
Best Wealth Management Singapore 2012 DBS Bank (Singapore) Limited
Best Retail Forex Platform 2012 Alpari (UK)
Best Dealing Room 2012 Royal Forex Trading S.A.L.
Best Forex New Comer Indonesia 2012 TBF Market Ltd
Best Forex Broker Azerbaijan 2012 Forex-AZ
Best Forex Customer Service Australia 2012 AxiTrader
Best Latin American Financial Brokerage 2012 Bulltick Capital Markets
Best Online Broker Hungary 2012 KBC Securities Hungarian Branch Office
Best ECN Broker Nordics  2012 FinFX
Best Forex Software Developer Middle East  2012 Hybrid Solutions
Best Stock Broker Germany 2012 Steubing AG
Best Active Trading Platform 2012 Alpari (UK)
Best Discretionary Broker in Africa 2012 Investec Wealth & Investment
Best Forex Broker Chile 2012 Forex Chile
Best Forex Broker in New Zealand 2012 IK Trust Capital Market Corporation Limited
Best Forex Broker South Africa 2012 YoutradeFX
Best Forex Customer Support Middle East 2012 MBCFX
Best Forex Liquidity Management Platform Technology 2012 smartTrade Technologies
Best Forex Provider Australia 2012 ForexCT
Best Mobile Trading Platform 2012 eToro
Best Social Trading Platform 2012 eToro
Best Trading Platform Europe 2012 Currenex
Fund and Insurance Awards 2012
Best Pension Fund Colombia 2012 Porvenir S.A.
Best Pension Fund In Czech Republic 2012 Penzijní fond Komercní banky
Best Insurance Provider Middle East 2012 Gulf Insurance Company
Best Diversified Fund of Hedge Funds in Europe 2012 Thalia SA (GHFS Arbitrage Opportunities)
Best Fixed Income Arbitrage Fund in Europe 2012 Thalia SA (GHFS Fixed Income Arbitrage)
Best Global Macro Fund of Hedge Funds in Europe 2012 Thalia SA (GHFS Global Macro Fund)
Best Credit Insurer Asia 2012 Atradius Credit Insurance N.V.
Best Credit Insurer Australia & Oceania 2012 Atradius Credit Insurance N.V.
Best Credit Insurer North America 2012 Atradius Credit Insurance N.V.
Best Insurance Company South Africa 2012 Hollard
Best Offshore Fixed Income Fund 2012 FTM Limited
Best Insurance Company Indonesia 2012 Asuransi Jiwasraya
Best Pension Fund Manager Caribbean 2012 NCB Insurance Company
Best MicroInsurance Provider East Africa 2012 CIC Insurance Group
Best Insurer of Co-Operatives East Africa 2012 CIC Insurance Group
Best Re-Insurance Company Brazil 2012 IRB-Brasil Re
Best Insurance Provider Vietnam 2012 PetroVietnam Insurance
Best Insurance Provider Europe 2012 HSBC Private Bank
Best Pension Fund Turkey 2012 Oyak
Best Insurance Company Taiwan 2012 Cathay Life Insurance Co., Ltd.
Best Insurance Company Peru 2012 Interseguro Compania de Seguros SA
Best Reinsurance Company Europe 2012 Hannover Re
Best Fund Management New Zealand 2012 Fisher Funds
Best Hedge Fund Manager Africa 2012 Peregrine Holdings
Best Insurance Company Asia 2012 AIA Group Limited
Best Insurance Company Latvia 2012 BTA Insurance
Best Insurance Company in Qatar 2012 SEIB Insurance and Reinsurance Company LLC
General Awards 2012
Most Innovative Self-Service Banking Solution Provider Africa 2012 CR2 Ltd
Best Financial Services Provider Africa 2012 UT Holdings
Fastest Growing CTRM Solution Provider Asia 2012 JustCommodity Software Solutions Pte Ltd
Best Micro Finance Institution Cambodia 2012 SAMIC
Best Cross Border Deal China 2012 Infinity Group
Most Innovative eWallet System Georgia 2012 UniPAY
Best Asset Management Company Indonesia 2012 PT Batavia Prosperindo Aset Manajemen
Best Investment Banking Firm Qatar 2012 Amwal Qatar
Best Advisory & Private Equity UAE 2012 Al Bashayer Investment Company
Best Facilities Management Company Qatar 2012 Transfield Mannai
Best Corporate and Wealth Management in Saudi Arabia 2012 Riyad Bank
Most Innovative Online Lender Georgia 2012 MiniCredit
Best Offshore Financial Services Destination In The Caribbean 2012 Nevis Investment Promotion Agency
Best Global Commodities Exchange 2012 DGCX
Best Global Captive Insurance and Hedge Funds Destination 2012 Bermuda
Best Wealth Management Advisory Switzerland 2012 Vontobel Group
Best Lawyer Chile 2012 Rodrigo Diaz de Valdes
Best Law Firm – Investment Funds, Uruguay 2012 Litwak & Partners
Best Dispute Resolution Law Firm Chile 2012 Baker & McKenzie
Best Corporate Card and Expense Services Provider 2012 Diners Club
Best Advisory Firm Middle East 2012 Cedar Consulting
Best Offshore Compliance Jurisdiction 2012 Cayman Island
Best Low Latency Connectivity Solutions Provider 2012 Gold-i
Best Boutique Wealth Management Advisory Switzerland 2012 Trafalgar Wealth Management Ltd
Best Corporate Finance Company Kuwait 2012 Muthanna Investment Company
Most Innovative Asset Manager Kuwait 2012 Muthanna Investment Company
Best Islamic Sharia Compliant Company Kuwait 2012 Muthanna Investment Company
Best Co-Branded Credit Card In Jordan 2012 Jordan Kuwait Bank
Best M&A Service Provider Malaysia 2012 Naqiz & Partners
Best Derivative Solution Provider 2012 Superderivatives
Best Real Estate Development Company Qatar 2012 Mazaya Qatar
Best Investment Company in Turkey 2012 IS Investment
Best Company Formation Agent Middle East 2012 Sovereign Corporate Services JLT
Most Innovative Equity Specialist Brazil 2012 Perfin Investimentos
Best Investment Bank Paraguay 2012 Banco Continental
Best Investment Bank Israel 2012 Poalim Capital Markets
Best Investment Bank Bahrain 2012 Gulf International Bank
Best Investment Bank Saudi Arabia 2012 Gulf International Bank
Best Investment Bank GCC 2012 Gulf International Bank
Best Financial Advisors Chile  2012 LarrainVial
Best Asset Management Company in South Africa  2012 PSG Asset Management
Best Financial Services Destination Pacific Rim 2012 Sydney
Best Global Islamic Finance Destination Malaysia  2012 Malaysia International Islamic Financial Centre (MIFC)
Best International Tax Advisory Europe 2012 PwC
Best Private Equity Firm Chile 2012 Linzor Capital Partners
Best Private Equity Firm Uruguay 2012 Quilvest Capital
Best Wealth Management Advisory India 2012 Edelweiss Financial Services Ltd.
Best Compliance Technology Brazil 2012 WorldCompliance
Best Pre paid Visa Travel Card – Latin America 2012 Banco Rendimento S.A.
Best Asian Based CTA 2012 Four Elements Capital Pte. Ltd.
Best Asset Management Baltic’s  2012 IPAS Citadele Asset Management
Best Compliance Solution Provider Europe 2012 KPMG
Best Consultancy China 2012 KPMG
Best Consumer Finance Provider Dubai 2012 Dubai First
Best Institutional Investment Group African Market 2012 Invest AD
Best International Central Securities Depository 2012 Euroclear Bank
Best Online Payment System Georgia 2012 Uni-Pay
Best Socially Responsible Asset Management Western Europe 2012 SNS Asset Management
Best Wealth Management Advisory Chile 2012 Moneda Asset Management
Best Commodity focused CTA 2012 Four Elements Capital Pte. Ltd.
Best Fundamental based CTA 2012 Four Elements Capital Pte. Ltd.
Best ETP Provider South Africa 2012 Rand Merchant Bank (RMB)
Best Asset Management Firm Vietnam 2012 ACB Securities Company
Best ETP Service Provider/Commodities Western Europe 2012 ETF Securities (UK) Limited

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Financial Institutions Will Encounter Headwinds in 2021

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Imposter syndrome in the financial sector

Banking will never be the same; institutions need to rethink approaches in key areas

SRM (Strategic Resource Management), an independent advisory firm serving financial institutions, today shared information from its clients and subject matter experts on what to expect in 2021.

It Will Take More Than Understanding the Importance of Digital

  • The lockdowns and closures used to battle the pandemic have led to the importance of digital becoming amplified and echoed by most all industry commentators. It is doubtful financial institutions will not scrutinize digital strategy in 2021, but there will be a subset that understand the less obvious factors destined to separate the winners from losers. One such factor relates to breaking with the standing model used by banks and credit unions to meet the needs of consumers.
  • More institutions will join those that have already realized that online and mobile banking is not digital banking and that their digital brands will not be sustained by simply finding the right online and mobile banking vendor. Multiple vendors providing enhanced services, e.g., predictive analytics to anticipate a consumer’s need, will be integrated to create a transformative digital ecosystem that is flexible, configurable, scalable, and capable of continuous as well as frequent innovation.
  • The movement to this framework for digital transformation will necessitate modern technology and API-driven architectures that create an environment where technology can be disposed of and/or replaced at a much faster rate. The banks and credit unions that embrace this approach will have both answers and opportunity regarding the invasion of big tech – e.g., Google’s digital banking and co-branded checking accounts. Increased agility will allow these institutions to defend their turf and act as a desirable partner with the non-traditional companies entering the industry.

Declining Branch Footprint Accelerates, New Use of Branch Space Emerges

  • The total number of bank branches peaked in 2009 at close to 100,000 and has declined to slightly above 85,000 today. In 2021 and beyond, the pace of branch decline will increase materially as financial institutions apply the lessons learned during the pandemic to operate more efficiently – with less reliance on their physical footprints. Increases in M&A activity (more below) will also contribute to a decrease in branches above the pace observed pre-pandemic.
  • Branch closures will be combined with institutions rethinking the function of the branch in a fashion more akin to that represented by the Capital One “cafes.” The pandemic has been a catalyst for an initial step in that direction as banks and credit unions have closed their lobbies, except by “appointment only.” Further, transactional activity at the branch has been pushed to the drive-through window.
  • The basic “doctor’s visit” model for branch services will be retained for converting remaining branches to advisory and sales facilities in the near term (much of 2021), with other types emerging once socialization can be done without health concerns (beyond 2021), such as co-location with existing coffee chains.

Payments Preferences to Persistently Shift

  • There has been exponential growth in payments that operate outside of traditional channels, e.g., P2P, push and disbursement transactions. Though many financial institutions have onboarded these non-traditional offerings, the economics of these payments differ significantly from traditional point of sale card payments and are further complicated by their propensity to attract fraud.
  • Before COVID-19, the number of contactless card transactions in the United States was unimpressive. Since the beginning of the pandemic, hygienic concern about cash and point-of-sale device cleanliness has ignited its use.  A contactless card allows its user to avoid cash and requires no contact with the point-of-sale device. Card issuers who have provided contactless cards to their cardholders will move to leverage these trends to promote their card and improve wallet position.
  • Smart leadership in banks and credit unions will consider how many contracts, notably with card networks and card processors, were set in the wake of the last crisis and will need realignment. Therefore, institutions must consider the changes in debit and credit volume, the history of card usage, and strategically plan for the short- and long-term. The institutions whose agreements expire in the next two years should already have engagement with their vendors in order to leverage their negotiation position fully.

Changes to Occur as a Result of the Election

  • The big question is: Will there be changes in regulatory approach and tax policy? It certainly looks like change is coming. The incoming president campaigned on a promise to reinstate most of the Dodd-Frank era financial reforms that the outgoing administration did not support (like lowering capital requirements). Likely there will be changes to corporate tax structures and the laws impacting the ultra-wealthy. Besides, bank regulators still have considerable leeway to mandate changes in capital and liquidity requirements, resolution and recovery planning, risk management procedures, and disclosure requirements.
  • With the new administration and a new majority in the Senate, 2021 will see continued economic support programs implemented as the PPP program was in early 2020. With the most recent stimulus program containing $284 billion more funds for small business relief, it seems unlikely the end of government announced support programs is near. Financial institutions wishing to streamline their participation in their programs will continue to focus on improving their ability to link their systems with the SBA or other govt agencies.

Adapting to Today’s Economy

  • In 2021, financial institutions will continue to address the changing economy with traditional balance sheet strategies by monitoring deposit fluctuations, evaluating client refinancing deals, and considering how government stimulus may create lending opportunities/risks. Engaging the credit risk and accounting team to determine how increases in expected losses will affect earnings will also allow them to consider opportunities to refinance existing debt, raise new funding at attractive rates, and/or revise any planned capital actions.
  • In 2020, SRM saw an increased number of financial institutions looking for ways to go on the offensive as they adapted to economic conditions. Institutions are more carefully scrutinizing vendor costs and using renegotiations with vendors as an opportunity to ensure the economics of their arrangements are “at market.” Optimizing vendor relationships will continue to be an area where focus can pay off for a bank or credit union.
  • With many institutions facing continued net interest margin pressure, subdued loan demand, and threats from traditional and non-traditional players, the desire to get enhanced scale will be one of the dominant stories for the industry in 2021. The several large deals consummated in the last several months are just a hint at what is to come. Over the next several years, deals will easily outpace the approximately 250 deals per year averaged over the last 10 years.

Brad Downs, CEO of SRM, commented, “The pandemic has brought many changes to banking but what might be the most significant is the rate at which consumer expectations and business needs have and continue to change. In 2021, the banks and credit unions that can understand the depth and breadth of this and other impacts introduced into financial services over the last 10 months will be the ones to gain a competitive edge in today’s complex marketplace.”

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Keynotes Announced: SAP Financial Services Live 2020

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Keynotes Announced: SAP Financial Services Live 2020 1

We are delighted to announce our Keynote Speakers & Session Titles for the upcoming free to attend digital event for banking, insurance, capital markets and central banks professionals; SAP Financial Services Live 2020 (17-19 November).

Meet Our Keynote Speakers:

Luka Mucic, CFO & Member of the Board, SAP
Financial Services: An Evolving Landscape

Christoph Böhm, CIO/COO, Deutsche Börse
Financial Markets and Technology in Transition

Maria Surmava, CIO, Discovery Health
Shared-Value Health Platform

Karsten Crede, CEO, ERGO Mobility Solutions
How to Become an Ecosystem Player

Peter Maier, President SAP Industries and Customer Advisory, SAP
Industry Convergence – Keynote Interview

Timo Elliott, VP – Global Innovation Evangelist, SAP
Opening Keynote; The World has Changed, and it’s Time to Adapt to the “Next Normal”

Alongside our keynotes, this event will be packed with SAP user case studies from leading global companies including: Bank of Ireland, Bank of Montreal, Capital One, Cornèr Bank, Discovery, Edelweiss, London Stock Exchange, MB Ageas, Munich Re, Samsung Life, Swiss Re, Vast Bank, Vienna Insurance Group, Zurich Insurance and many more to be announced.

Keep up to date with the latest information on our website >

Ahead of the event, you will have the opportunity to plan your own agenda with multiple live presentations each day to choose from. Then following the event, a library of on-demand content will be at your disposal so you can continue to strengthen your financial services business over the coming months.

Don’t miss the opportunity to connect online to debate, discuss and determine the current trends and hot topics for the financial services industry.

Sounds interesting? Register to join us here >

 

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FinTech in Credit Markets: Efficiency and Potential Risks – Free webinar

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FinTech in Credit Markets: Efficiency and Potential Risks - Free webinar 2

As the financial industry’s landscape continually changes, the ever-quickening development in information technology has led to an unprecedented wave of entries of non-bank institutions.

With the help of alternative technologies, FinTech firms have begun to challenge the traditional banks’ role in financial services, from payment service to the provision of credits. This taster session aims to provide an overview of this development, with some focus on credit markets. We will discuss the scope and the drives of FinTech, its efficiencies, potential risks, as well as its relationship with traditional banking.

In this interactive session on Tuesday 10 November, Kebin Ma of Warwick Business School will discuss why FinTech has become a buzzword in the financial industry.

Where: Online
When: Tuesday 10 November 2020, 18:00 – 19:00 (UK time)

Register for the free webinar here

For information about the Global Central Banking & Financial Regulation qualification from Warwick Business School, in partnership with the Bank of England please visit wbs.ac.uk/go/banking

 

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