🌍 Financial inclusion remains a challenge despite banks’ commitments to welcome all. Nearly 6mn in the US and 1.2mn in the UK lack a bank account. 🏛️ The new Taskforce on Inequality and Social-related Financial Disclosures aims to elevate inequality in financial decision-making, pushing lenders to act. It follows in the footsteps of climate-related financial disclosures and arrives as regulators push for more robust inclusion efforts. 🔎 However, resistance remains strong. US lawmakers are fighting to pass the Financial Inclusion in Banking Act, while lawsuits target reforms aimed at curbing discriminatory practices. 💡 Yet, the momentum is shifting, as banks explore new ways to serve underserved communities, including via small-dollar loans and using alternative data. Could these efforts be the catalyst for meaningful change? Read more here: https://lnkd.in/es-5q9aW Farah Khalique reports
The Banker
Banking
London, England 42,376 followers
The Banker is the authoritative source of global financial analysis and data-driven intelligence.
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The Banker is the key source of data and analysis for the world's banking sector. Follow our page to connect with senior figures in the banking industry and to read the latest news analysis and features.
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www.thebanker.com
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The Banker reposted this
Looking forward to heading off to Sibos in Beijing. If you're at the conference I'll be hosting three sessions across the week. I'll be starting the week bright and early hosting Inside Leadership with Wilfred Yiu, deputy chief executive officer, Hong Kong Exchanges and Clearing Limited (HKEX) at 09:00 on Monday. On Tuesday at 14:00 I'll be chairing the Meet the Experts: Customer Experience vs KYC compliance in Onboarding - Can AI restore order? panel with Carlos Infesta Santander and Marc Murphy Fenergo. And at 16:30 I'll be hosting the EY Women in Tech - Power Hour: Shaping an equitable AI landscape with Namrata Jolly Microsoft, Cat Haines EY and Steve Morgan Pegasystems. Hope to see you there!
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Artificial intelligence is transforming the banking sector, but many banks are still struggling to unlock its full potential. How can financial institutions harness AI to boost efficiency, manage risks, and enhance customer experiences? Discover the answers in our latest report and prepare for the Global Banking Summit, where the future of AI in banking will be a key focus: Download now > https://lnkd.in/e4g69dVA? #FTBanking #AI #ArtificialIntelligence #TheBanker
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🍃 The Transition Finance Market Review urges decisive public finance policies to derisk transition finance and attract private capital for low-emissions technologies. Achieving net zero requires bold incentives, especially for hard-to-abate sectors. 💷 The UK needs £50bn annually through the late 2020s and 2030s to meet its climate goals, but progress will be incremental without government action to make these investments more attractive. A new Transition Finance Lab is recommended to drive innovation in financing solutions. 📋 Barclays echoed the call for clarity on transition finance, highlighting the need for transition bonds and a national plan for sector decarbonisation. Credibility and integrity in the UK’s transition finance market will be vital as global competition intensifies. Read more here: https://lnkd.in/eGC5Z6Fj Anita Hawser reports
UK independent review calls for stronger incentives to boost transition finance
thebanker.com
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As competition with neobanks heats up, banks must act fast. Our upcoming webinar on 23 October will explore how institutions are replacing outdated infrastructure, launching digital offerings, and staying ahead of the curve. Register now: https://shorturl.at/nex3W #TBCloudLaunch
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💡E.Sun Bank is navigating digital transformation under the leadership of academic-turned-CTO Jyh-Shing Roger Jang. With a background in AI and cloud computing, Jang is driving initiatives from fraud detection to risk management across 100+ projects. ☁️ The bank’s adoption of cloud infrastructure ensures business continuity, even amid geopolitical tensions. “If it is all on the cloud, it will be much easier for us to stay operational,” Jang says. 🤖 AI is central to E.Sun’s strategy, with innovations like graph databases and relational networks enhancing risk management and customer interactions. Jang envisions a future of fully digital bank branches with avatars replacing tellers. Read our latest Tech vision column here: https://lnkd.in/e3ZBzYDP Seth O'Farrell reports
AI experimentation is a ‘source of fun’, says E.Sun CTO
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💰 TD Bank faces significant challenges as it pleads guilty to money laundering, agreeing to pay $3bn in penalties. With a $434bn asset cap imposed by the OCC, TD’s US growth plans are on hold, and its 2025 pre-tax net interest income could drop by $225mn. 💼 The penalties, including restrictions on new branches and dividends, come after multiple investigations revealed failures in monitoring $18.3tn in customer transactions, enabling laundering of $670mn. 📉 TD is now planning a 10% reduction in US assets to comply with regulatory limits. The bank’s strategic focus is shifting back to Canada and TD Securities, signalling a tough transition period ahead. 🗓️ Read our timeline of the bank’s regulatory failings leading up to these events here: https://lnkd.in/ekQ4Za2Y With comment from William Scott Grob, Maria-Gabriella Khoury, Mariola Marzouk and Graham Bailey Aliya Shibli and Barbara Pianese report
Explainer: TD Bank’s future after unprecedented money-laundering charge
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Is your bank ready for cloud-native architecture? 🚀 Join us on 23 October for a deep dive into how traditional banks are modernising legacy systems to keep pace with neobanks and AI advancements. Get actionable insights from industry leaders into driving transformation at speed and scale. Register for free: https://shorturl.at/nex3W #TBCloudLaunch
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📈 UniCredit’s new advisory and financing solutions team has been recognised as team of the month for its strategic approach, seamlessly integrating advisory expertise with financing solutions to address client needs. 📡 With the telecoms industry undergoing structural shifts, UniCredit’s team has demonstrated its ability to navigate these challenges, providing key advisory and financing support. 💼 This approach is setting a benchmark for how banks can enhance client value across sectors. With comment from the team: Andrea Casati, Andrea Coda, Carlo Fontana, Riccardo Amoni and Serkan Cetin https://lnkd.in/ejZzXNpw
UniCredit’s deal-winning approach to telecoms
thebanker.com
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🌏 Asian financial institutions are lagging behind in the adoption of Legal Entity Identifiers (LEIs), risking rising transaction costs and missed business opportunities. 🌐 With more than 2.7 million LEIs issued globally, countries like China, India, and Japan have begun mandating their use, yet full implementation remains uneven across the region. 🚧 The rising use of LEIs in western markets may leave Asia-Pacific nations at a disadvantage, potentially excluding them from key transactions. We spoke to Chris Donohoe, Alexandre Kech and Pamela Mar 🔍 Find out how LEIs can bring transparency, reduce fraud, and simplify global business operations by reading more here: https://lnkd.in/eXZ8Z6xs Kimberley Long reports
Asia’s financial institutions face higher transaction costs without LEI compliance push
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