BizKonnect’s Post

In the ever-evolving landscape of Banking and Financial Services (BFS), regulatory compliance stands as a cornerstone for #sustainable operations and growth. This Everest Group report meticulously dissects the dynamic regulatory environment surrounding BFS, highlighting key themes and trends shaping the industry’s trajectory. By analyzing historical trends of collapses, frauds and noncompliance, the report provides insights into regulators’ psyche and offers a nuanced exploration of the multifaceted factors influencing regulatory dynamics. Through rigorous analysis, the report not only identifies emerging challenges but also illuminates strategic opportunities for BFS enterprises to effectively navigate regulatory complexities. By delving into compliance costs, geographical disparities, and the strategic outsourcing journey for regulatory compliance, the report provides actionable insights tailored to the unique market standing and regulatory exposure of large enterprises, including banks, FinTechs, financial services firms, and niche providers. Read on: https://okt.to/S6bYMO

In the ever-evolving landscape of Banking and Financial Services (BFS), regulatory compliance stands as a cornerstone for #sustainable operations and growth. This Everest Group report meticulously dissects the dynamic regulatory environment surrounding BFS, highlighting key themes and trends shaping the industry’s trajectory. By analyzing historical trends of collapses, frauds and noncompliance, the report provides insights into regulators’ psyche and offers a nuanced exploration of the multifaceted factors influencing regulatory dynamics. Through rigorous analysis, the report not only identifies emerging challenges but also illuminates strategic opportunities for BFS enterprises to effectively navigate regulatory complexities. By delving into compliance costs, geographical disparities, and the strategic outsourcing journey for regulatory compliance, the report provides actionable insights tailored to the unique market standing and regulatory exposure of large enterprises, including banks, FinTechs, financial services firms, and niche providers. Read on: https://okt.to/zaveIN

Happy to share, my whitepaper on Financial Spreading #financialspreading is referenced in leadership interview of Mr Hemakiran Gupta (Regional Head, BFSI Europe TCS) for #thebankingscene ========== The small and medium business (SMB) segment is vital for the economic growth of any country; however, this segment is underserved, especially when it comes to credit because SMBs may not have enterprise / financial information structurally available. Banks need to perform significant manual work, such as checking credit scores, evaluating financial performance, and analysing publicly available information including social media posts before they can approve a loan. However, our company has come up with an innovative solution called financial spreading, which is based on AI and ML. This technology can scan the entire marketplace and provide a score to the bank in just 5 to 10 minutes, with an accuracy rate of 85 to 90%. This makes the loan approval process much faster and more efficient. =========================== https://lnkd.in/gpnWyrJG

The BFSI industry has undergone significant growth driven by shifts in the global economy, innovation, technology, and customer expectations. The rapid expansion of digital banking platforms and financial services is greatly contributing to the transformation of traditional banking systems and financial operations. Get in touch with our team of experts at Odyss Global to catch up with the latest trends and insights about the BFSI sector. www.odyssglobal.com . . . #BFSI #DigitalBanking #FinancialServices #BankingTransformation #Innovation #TechnologyTrends #FinancialOperations #OdyssGlobal #BankingInsights #GlobalEconomy

In the ever-evolving landscape of Banking and Financial Services (BFS), regulatory compliance stands as a cornerstone for #sustainable operations and growth. This Everest Group report meticulously dissects the dynamic regulatory environment surrounding BFS, highlighting key themes and trends shaping the industry’s trajectory. By analyzing historical trends of collapses, frauds and noncompliance, the report provides insights into regulators’ psyche and offers a nuanced exploration of the multifaceted factors influencing regulatory dynamics. Through rigorous analysis, the report not only identifies emerging challenges but also illuminates strategic opportunities for BFS enterprises to effectively navigate regulatory complexities. By delving into compliance costs, geographical disparities, and the strategic outsourcing journey for regulatory compliance, the report provides actionable insights tailored to the unique market standing and regulatory exposure of large enterprises, including banks, FinTechs, financial services firms, and niche providers. Read on: https://okt.to/bFnSBg

In the world of global finance, few markets rival the significance and complexity of the United States. For multinational banks like HSBC, breaking into this market necessitates a blend of strategic foresight, adaptability, and a deep understanding of the nuances that define the US financial landscape. ### Understanding the US Market Terrain The US financial market is a mosaic of intricacies—varying regulations across states, diverse consumer behaviors, and intense competition among established domestic players. For HSBC, comprehending these nuances was imperative to tailor offerings that catered to the wide-ranging needs and preferences of American consumers. #### 1. **Strategic Acquisitions and Expansion** HSBC's entry into the US was significantly propelled by strategic acquisitions, notably the acquisition of Household International in 2003. This bold move provided HSBC with an extensive branch network, amplifying its footprint in consumer finance and setting the stage for expansion. #### 2. **Segmentation and Targeting** Recognizing the diversity within the US market, HSBC adopted a segmented approach. The bank curated services targeting affluent clients through Premier and Advance services while simultaneously addressing the mass market through retail banking solutions. This nuanced segmentation enabled HSBC to resonate with a broad spectrum of consumers. #### 3. **Technological Innovation** Embracing the evolving nature of banking services, HSBC invested heavily in technological advancements. The introduction of intuitive mobile banking apps, online account management tools, and personalized digital services not only enhanced customer experiences but also positioned HSBC as a technologically adept and customer-centric institution. #### 4. **Brand Building and Marketing** Establishing a strong brand presence in the US was paramount for HSBC's success. The bank executed targeted marketing campaigns emphasizing its global expertise, reliability, and commitment to customer-centric solutions. This approach fostered trust and credibility among American consumers. ### Conclusion HSBC's triumphant entry into the US market stands as a testament to its strategic planning, adaptability, and commitment to meeting the diverse needs of American consumers. By amalgamating acquisitions, tailored services, technological innovation, compliance measures, and targeted marketing, HSBC not only established a robust presence but also provided invaluable insights for global entities aspiring to venture into the fiercely competitive US financial market. #hsbcuk #seo #searchengineoptimization

Through this report, Accenture takes a closer look at the trends expected to shape commercial banking in the year to come. While many of the trends intersect, banks that focus on the corporate and small and medium business (SMB) sectors will also face some unique headwinds and tailwinds. The report addresses mainly the following: -From tactical cost takeout to strategic cost transformation -New regulation shifts capital allocation into the spotlight -Doubling down on deposits -A commercial payments wakeup call -The next generation of automated, data-powered lending -Generative AI in commercial banking #commercialbanking #trends24 #risks24 #SMB #corporatebanking #generativeai #regulatorydevelopments #tacticalcostallocation

In today's dynamic financial landscape, Non-Banking Financial Companies (NBFCs) are facing unprecedented challenges. With increased regulatory scrutiny and economic uncertainties, it’s crucial for NBFCs to adapt and thrive. Here are some strategies that can help: 𝟏. 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧 𝐆𝐨𝐯𝐞𝐫𝐧𝐚𝐧𝐜𝐞 𝐚𝐧𝐝 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞: Robust governance frameworks and stringent compliance measures are no longer optional. NBFCs must invest in state-of-the-art compliance systems to ensure they meet all regulatory requirements. Regular training sessions for staff on the latest regulations can also mitigate risks. 𝟐. 𝐃𝐢𝐯𝐞𝐫𝐬𝐢𝐟𝐲 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 𝐒𝐨𝐮𝐫𝐜𝐞𝐬: Relying on traditional funding sources can be risky in an uncertain economy. Exploring alternative funding options such as securitization, partnerships with fintech firms, and accessing capital markets can provide a more stable financial base. 𝟑. 𝐋𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲: Digital transformation is a game-changer. Utilizing advanced analytics, AI, and machine learning can enhance credit risk assessment, improve customer service, and streamline operations. Technology can help NBFCs stay ahead of the curve and respond swiftly to market changes. 𝟒. 𝐅𝐨𝐜𝐮𝐬 𝐨𝐧 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫-𝐂𝐞𝐧𝐭𝐫𝐢𝐜𝐢𝐭𝐲: Understanding and addressing customer needs can create a loyal customer base. Personalized financial products and services, coupled with transparent communication, can build trust and drive growth even in tough times. 𝟓. 𝐄𝐧𝐡𝐚𝐧𝐜𝐞 𝐑𝐢𝐬𝐤 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭: Proactive risk management strategies are critical. Implementing comprehensive risk assessment frameworks and stress testing can help NBFCs identify potential threats early and devise effective mitigation plans. 𝟔. 𝐌𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐒𝐭𝐫𝐨𝐧𝐠 𝐋𝐢𝐪𝐮𝐢𝐝𝐢𝐭𝐲:Ensuring sufficient liquidity is essential to navigate economic uncertainties. Building a liquidity buffer and maintaining a healthy cash flow can provide the necessary cushion during turbulent times. By focusing on these strategies, NBFCs can not only withstand regulatory pressures and economic uncertainties but also pave the way for sustainable growth. Let's embrace these changes and turn challenges into opportunities! . . ✅Follow Jitender Bhatt for more💯. . . . . #NBFC #Finance #RiskManagement #DigitalTransformation #EconomicUncertainty #Compliance #CustomerCentricity #FinanceWrapIndia #LinkedInNewsIndia

🚀🌐 2024 Banking Trends Unveiled by KPMG: A Macro Outlook! 🌐🚀 Get ready for a swift and insightful journey into the major banking trends shaping the landscape in 2024, courtesy of KPMG. Unlike many, they keep it macro, steering clear of the GenAI buzz. Refreshing, isn't it? Key Highlights: 🔹 Challenging Growth Environment: Brace for headwinds! In 2024, the banking sector encounters macro and microeconomic challenges amidst conflicts and a US presidential election year. High-interest rates and low stock prices elevate fund and deposit costs, squeezing bank earnings. 🔹 Digital Transformation Marches On: The digital revolution persists! Banks are steadfast in elevating customer service and modernizing technology platforms. While Generative AI enters the banking arena for personalization, regulatory and risk concerns will moderate its adoption pace. 🔹 Regulatory Intensity Endures: Hold tight for continued regulatory intensity! The financial services arena experiences an unprecedented surge in regulatory issuances, complexity, and the breadth of regulatory supervision, setting the tone for a tightly regulated environment. 🔹 Workforce Expectations Take Center Stage: According to a KPMG CEO survey, a whopping 84% emphasize the pivotal role of a strong ethical culture in business success. In 2024, the banking industry leads the return-to-office trend, exceeding workforce expectations and championing an ethical corporate culture. Embrace the macro perspective! 🌍💼 #BankingTrends #Finance2024 #RegulatoryEnvironment #DigitalTransformation #WorkforceExpectations

At the recent Barclays Financial Institutions Group (FIG) Symposium 2024, Simon Ong, Global Head of FIG at DBS Bank, spoke on the panel titled ‘Innovation and Progress: Making Banking and Finance Accessible’. Simon highlighted DBS' pivotal role in advancing financial inclusion across Southeast Asia, where it is the largest bank with a presence in 19 markets. The bank focuses on serving retail customers who are typically excluded from formal banking services, addressing financing gaps for small and medium enterprises, and supporting social enterprises. As financial services continue to evolve, the customer experience is expanding beyond "digital financial services" to become an integral part of broader value chain experiences. DBS' research indicates that payments through embedded channels totalled US$2.5 trillion in 2021 and are projected to reach US$6.5 trillion by 2025. Achieving seamless inclusion in embedded finance relies on scale, consolidation, and simplified, data-driven product offerings. While larger players may dominate, there is also potential for niche providers, especially in B2B sectors poised for significant disruption. DBS remains dedicated to enhancing customers' daily lives by offering direct financial services, facilitating transaction infrastructures, and integrating non-financial experiences into their customer journeys. #DBS #LeadingWithDBS #DifferentKindofBank