Employee Attrition is a new pandemic? According to multiple sources, 2021 saw a significant increase in voluntary staff turnover. Nearly 50% of respondents to a payscale.com survey, for example, reported higher voluntary staff turnover than in previous years, with 76% experiencing significantly more difficulty attracting appropriate talent than they have done previously. In the technology, […]
Customer onboarding – the need The customer onboarding process is the first touch point through which a prospective customer forms impressions about an organization. Today the major challenge financial services firms face is Customer Management. Managing customer expectations from the time of onboarding is going to be a key differentiator for these firms to achieve customer […]
xVA The multitude of costs and risks faced by banks in their OTC derivatives trading operations – outside the typical risks of a Trading Book – have led to the adoption of various xVAs, (‘valuation adjustments’) aiming to bridge the gap between fair and actual value. Practitioners often refer to these VAs as ‘components’ of […]
ISO 20022 was published in 2014 and is a global standard for financial messaging that provides a standard model across business domains such as payments, securities, trade services, card services, and foreign exchange (FX). The new standard defines messages between parties within a payment chain. It also defines message specifications for each message type. It […]
Wealth Management firms are facing challenges in providing the right set of information about their clients and about product & market details to their Relationship Managers which is impacting the efficiency and meaningfulness of client meetings. This is reflected in the major trends observed in the area of Wealth Management: Improved client experience and advisor […]
Summary The long awaited move to USD T+1 settlements is expected to be approved in Q3 2022, with a target implementation date of Q3 2024, so now is an opportune time for institutions to consider the impacts and challenges in meeting those timelines. The implementation of T+1 settlement will require a reassessment of existing industry […]
Summary When stock exchanges were first established, the typical trade settlement period was 14 days. It wasn’t until the 1970s that required settlement times began shrinking, first dropping to 7 days, then 5 and then to 3 days till 1990s, then it lowered to 2 days in 2017. Now moving to T+1 involves reduction in […]
Where compression seeks to offset economically similar trades to reduce notional, optimisation seeks to free up committed margin and capital by placing a series of market risk-neutral trades.
A more sophisticated methodology has been introduced for calculating capital requirements with the aim of better capturing systemic risk; the downside being an increased regulatory burden on the banking system.
Inspired by use in the tech industry, financial firms are embracing biometrics as a way of improving banking security.