Hanmi Bank’s Post

How Digital Transformation Transforms Commercial Lending: Banks and NBFIs are among the top industries that have been'and continue to be'profoundly affected by digital transformation.When so much data is available, it's natural that the way they approach […] The post How Digital Transformation Transforms Commercial Lending appeared first on Datafloq. #DataScince #ArtificialIntelligence #MachineLearning

I thought OM had already tried the Bank option. I mean my daughter and I supported with those Old Mutual Bank Windhoek issued 💳 we held on to them until it was like no more. Now what… ? I am personally not in-love with Old Mutual practices, for such a huge insurance company, it’s conduct of business is very 1980s =primitive. I mean to cancel a policy you don’t get your money 💰 ever. I had a Savings policy and when I cancelled it they refused to pay my dues, todate. They also didn’t introduce online services until recently and the fact that all is still steered from SA makes my blood 🩸 boil. We are more than a “branch-of-people” to these companies. At that stage, I maintained an SA account number and they wouldn’t pay into that account. The irony was that the money was transacted from their South African base. I mean, what the hell…🧐it’s been 5 years, if not more and I wonder if my money has earned any interest 📈 Maybe, I should go to NamFisa and lay a complaint, against Old Mutual. I might not be the only one. I will never put my money in Old Mutual ever., Bank or No Bank 🏦 if they can’t even operate transparently, smoothly in their core business. #oldmutual #insurance #namfisa #financialservices #bankofnamibia #interest #bank #regulation

Importance of Processes in Retail Asset Loans: >> Regulatory Compliance is paramount in the banking sector to uphold standards and mitigate risks effectively. Adhering to RBI regulations ensures system integrity and reduces the likelihood of penalties. >> Underwriting Processes are critical for minimizing defaults through thorough credit assessments and accurate documentation. Prudent risk management aids in identifying and managing potential risks, safeguarding the bank's assets effectively. >> Efficient Disbursement Processes are crucial for enhancing customer satisfaction by ensuring timely and accurate loan delivery. Maintaining financial accuracy through precise disbursement is essential for the bank's operational success. >> Operational Efficiency is boosted through streamlined procedures, reducing processing time and costs. This, along with a focus on financial stability, helps minimize defaults and non-performing assets, ensuring operational success. >> Customer Trust and Satisfaction are foundational in the banking sector. Offering enhanced customer experiences and reinforcing the bank's reputation through disciplined operations build trust and loyalty among customers. >> Sustainable Growth in the banking sector relies on well-defined processes supporting resilience and growth. Building stakeholder confidence is key for long-term success, contributing to sustainable growth and stability. #Banking #RegulatoryCompliance #Underwriting #Disbursement #CustomerSatisfaction #SustainableGrowth

Contributed to this recent article on important topic of corporate deposits. This article offers ideas for attracting and retaining corporate clients’ deposits in a high-interest-rate environment. This is particularly important as deposits still represent one of the biggest sources of income for transaction banking and are a core driver of overall corporate banking performance. The article lays out the conditions behind the renewed need to focus on deposit management and then offers seven moves to help banks strengthen deposits as corporate clients seek better deals.

The Critical Role of CASA in Corporate Banking In the world of corporate banking, CASA (Current Account and Savings Account) isn’t just a deposit product; it's a vital tool for sustainable growth and profitability. Here’s why: Low-Cost Funding: CASA accounts provide banks with a steady source of low-cost funds, allowing for better liquidity management and enhancing profitability. Customer Retention & Relationship Building: Maintaining a robust CASA portfolio helps in deepening client relationships by offering a gateway to cross-sell various banking products like treasury services, trade finance, and working capital solutions. Operational Efficiency: With funds readily available at a lower cost, banks can offer more competitive pricing on loans and services, strengthening their market position. In today’s competitive banking environment, growing and maintaining a strong CASA base is crucial for driving sustainable growth. It’s not just about deposits; it’s about building stronger partnerships with clients. #CorporateBanking #CASA #BankingInsights #ClientEngagement #LiquidityManagement

HDFC Bank transcends traditional banking through strategic investments and diverse subsidiary holdings. These moves not only broaden its market presence but also enhance wealth creation and risk management. Strategic Stakes: - NSDL (10%) and CDSL (5%): Influence in securities depositories ensures safe and efficient transfers. - CIBIL (10%) Access to credit information aids in accurate credit risk assessment. - ONDC (6%): Positions the bank at the forefront of digital commerce. - CAMS (5%): Supports wealth management and mutual fund distribution. - NPCI Ltd (5%): Integrates HDFC into India’s retail payments system, fostering innovation in digital payments. Subsidiaries: - HDFC Securities (96%) Strengthens investment services for retail and institutional clients. - HDB Financial Services (95%): Diversifies offerings with non-banking financial services. - HDFC AMC (52%): Enhances wealth management through mutual fund operations. - HDFC Life (51%): Adds a robust insurance arm, enabling comprehensive financial planning. - HDFC Ergo: Completes insurance offerings with a range of products. Strategic Advantages: These investments and holdings provide diversified revenue streams, market influence, enhanced data access, and comprehensive financial services. HDFC Bank's integrated approach drives growth, innovation, and resilience, ensuring its leadership in the dynamic financial landscape.

Banks are at a pivotal moment in their evolution….how to balance the TOT(Tsunami of Technology) with their customer’s need for human interaction. This article sheds light on that. #banking #salesenablement #financialservices Integrity Solutions

In today's complex economic landscape, loan portfolio monitoring has become essential for financial institutions. From ensuring regulatory compliance and managing risk to leveraging advanced technologies and enhancing customer relationships, this practice is crucial for banks. But how can banks implement comprehensive loan portfolio monitoring strategies that drive business growth and stability? Read more on the key components and benefits of this critical function in the link below. https://ow.ly/TnBT50SIHSr #Banking #RiskManagement #Fintech #BusinessGrowth

🚀 Exciting News from MANTL! 🚀 MANTL has unveiled its new Business Deposit Origination platform, tailored specifically for credit unions! This platform is designed to simplify and speed up the business account opening process for a range of businesses, from small and medium-sized enterprises to large commercial entities. Whether online or in-branch, the process is swift—under 10 minutes online and 15 minutes in-branch, offering both self-service and staff-assisted options. ⏱️🔗 🔍 Key Features: - Automated workflows that align with the credit union’s regulatory and risk protocols, cutting down manual reviews by over 50%. - A single entry point for deposit origination, ensuring accounts are securely opened on any device with real-time syncing across channels. - Automated KYB/KYC workflows to boost employee efficiency and conversion, while also reducing fraud through configurable decisioning and adaptive due diligence. - Digital streamlining of membership verification, share collection, and beneficial ownership documentation. 🔗 MANTL’s cutting-edge technology integrates seamlessly with all major core banking platforms, ensuring smooth and secure interactions with existing credit union systems. 💻🔒 The results speak for themselves: banks have witnessed up to a 60% increase in business account openings and a 75% decrease in document requests over the past two years! 📈📉 🤝 This innovative solution was honed in collaboration with a cohort of 10 credit unions. The goal? To merge member-centric innovation with efficiency, ultimately enhancing the overall member experience. Join us in celebrating this milestone for MANTL and the credit union community! 🎉 #FinTech #CreditUnions #BusinessBanking #Innovation #DigitalTransformation

"The Power of Relationships in Banking" "As a Relationship Officer in the banking sector, I've learned that it's not just about numbers and transactions - it's about people and relationships. I'd like to share a story about a client who was struggling to find the right financial solution for their business. Through active listening and understanding their unique needs, I was able to tailor a solution that exceeded their expectations. The result? A long-term partnership built on trust, loyalty, and mutual growth. Let's remember, in the world of banking, relationships are the greatest assets we can build. "I still remember the day I met Mr.Rohan Wankhede, a passionate small business owner who was struggling to find the right financing solution to expand his operations. Despite his dedication and hard work, he was facing rejection from multiple banks due to his limited credit history. Through our conversations, I understood Mr.Rohan's vision and commitment to his business. I saw an opportunity to make a real difference. I worked closely with Mr.Rohan to create a customized financial plan, exploring alternative options that would meet his unique needs. We collaborated to build a comprehensive proposal, highlighting his business potential and growth prospects. After several weeks of hard work, I was thrilled to inform Mr.Rohan that his loan application had been approved. The joy and relief on his face were unforgettable. Today, Mr.Rohan's business is thriving, and he's creating jobs and contributing to the local community. Our partnership has grown into a lasting relationship built on trust and mutual respect. This experience reminded me that, as banking professionals, we have the power to make a meaningful impact on people's lives and businesses. Let's continue to prioritize empathy, understanding, and creative solutions to drive growth and success." #RelationshipBanking #ClientFirst #BankingOnTrust #FinancialPartnership #GrowthThroughRelationships"