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Expert opinions

Guy Melamed

Guy Melamed CEO at Exberry

New Year’s Resolutions for Market Infrastructures in 2024

Traditional financial infrastructure providers are increasingly considering upgrading their trading systems to align with modern times. This is both based upon strategic developments taking place over the past couple of years (Microsoft investing £1.5bn in LSEG, Nasdaq collaborating with Amazon for cloud infrastructure, and Google injecting $1bn i...

/inclusion /markets Capital Market Technology

Anish Kapoor

Anish Kapoor CEO at AccessPay

Corporate Payments in 2024: APP fraud, ISO 20022-readiness and generative AI

The start of a new year is a natural time to consider what lies ahead. Here, we look at four key themes in corporate payments: Authorised Push Payment (APP) fraud, operational resilience, generative AI and ISO 20022, and consider what lies in store for 2024. Authorised Push Payment Fraud Combatting APP fraud will be high on the agenda for many orga...

/payments /predictions Finextra site news

Priya Kumari

Priya Kumari Digital Content Marketing Specialist at MSys Technologies

The Resilience of Credit Unions: Shaping the Future of Consumer Loans

Introduction While credit unions have experienced a slight slowdown in growth, they have proven to be more resistant to market fluctuations compared to banks. Despite facing challenges, credit unions have managed to maintain their share and even make gains in specific sectors. This article explores the recent trends in credit unions' consumer loan...

/payments /markets Banking

Raktim Singh

Raktim Singh Senior Product Leader at Infosys

Democratized AI

What is Democratized AI: The democratization of artificial intelligence entails universal access to AI. Put simply, open-source datasets and tools, which were created by prominent corporations , require minimal user expertise in artificial intelligence, allowing anyone to construct groundbreaking AI software. The underlying principle of 'Democrat...

/retail /inclusion Artificial Intelligence

Mantvydas Štareika

Mantvydas Štareika CEO at CapitalBox

Alternative sources of finance should support SMEs

Small and medium-sized enterprises, SMEs, make up 99% of all European companies and are the backbone of the EU economy, as they account for the vast majority of growth in the labor market. Despite that, SMEs are still seriously underfunded, in fact by as much as around €400 billion in the EU alone according to a recent study. The reason is that SM...

/retail /inclusion




Love Change: The Dynamics of Modern Leadership

Change in financial services has become a differentiating factor. With that, the facets of leadership have and are still evolving, with a refreshed focus on the dynamics and instruments of change within organisations. The pace of change is a different proposition now than it used to be. The confluence of technology advances, which continue to occur exponentially, and consumer demand in combination with market and regulatory pressures give the context for the very real challenge of agility for financial institutions (FIs) of all sizes. This means in some cases wholesale transformation of traditional structures, hierarchies and business models, away from not only legacy technology stacks and systems, but also from endemic siloed cultures. Architects often say it is easier to demolish and start anew but with live running workforces and global operations in train, transforming an enterprise on-the-go requires astute and reasoned methods and a considered approach. It goes beyond placing the focus on technology, as the industry is wont to do. What are the core tenets of change and transformation? How does one effect change, enterprise-wide and what are the real dynamics of modern leadership? It takes the vision to identify processes that are redundant or limiting, for example longstanding Key Performance Indicators (KPIs) may be redundant within new business and operating models. Or the way in which teams interoperate and report may need to be adjusted; upskilling is likely a contributing factor; HR and recruitment parameters need likewise to be taken into account.  The instruments with which to change course need to be clearly and realistically set on course, but what else is required in order to inspire and influence. Is failure indeed required in order to succeed? This report from Finextra, in association with Mambu, engaged several industry leaders from a range of financial services organisations, to address the dynamics of modern leadership and what it takes to succeed and orchestrate change, not only once but as a constant.



Driving successful Cloud Transformation

Capital market firms face the challenge to evolve at pace with technology, so that they're able to innovate and adapt to the customer’s needs quickly. Cloud is seen as a key enabler to their digital future, however cloud adoption isn’t just about IT infrastructure. How can executives develop a holistic approach towards cloud modernisation to ensure their investments pay off? As ‘digital’ engulfs business strategies, large-scale financial services players need to develop smarter ways to adapt and accelerate technological change. They are also under constant pressure from fintechs operating on agile systems, rolling out products and services at speed. The pace of innovation at large firms often suffers due to the scale of operations, monolithic tech infrastructure, ‘people alignment’ and old ways of working. Challenges brought about by COVID require even greater levels of resilience and agility to navigate. More firms than ever are using cloud-led modernisation as a catalyst for holistic enterprise transformation, and crucially, this should lead to adaptable business models that can sustain growth and weather future uncertainties in an ever-changing milieu. To maximise the value from investment, operating models need to align closely business and tech strategies. A democratised approach needs to be implemented enterprisewide and with that, a portfolio management approach to balance the long-term evolution of the underlying platform whilst pursuing growth with new products and features. Technology modernisation is also an enabler for lean product management practices such as low-cost rapid experimentation for exploring and exploiting innovative opportunities. Organisational, as well as technological change is needed to ensure teams can tap into the acceleration and agility that cloud-based architecture promises. Organisations need a mind shift- moving from a top-down decision culture to an empowered agile workforce that can continuously deliver on strategic business outcomes. This research paper from Finextra, in association with Thoughtworks, is based on interviews with senior leaders on their plans and challenges around digital programmes and cloud modernisation.



The Future of Digital Banking in the UK 2021

Why digital is paramount for innovation leaders. While emerging technology has been leveraged by banking leaders and incremental progress has been made in business-led areas, the modernisation of banking must remain as an evolving journey. To find the right approach, UK banks must ask themselves: what does the digital operating model look like to make this constant innovation sustainable? For an incumbent bank, digital transformation has become a herculean task in an age saturated with technological options, requiring traditional lenders to embrace unpredictability, maintain agility and digitise to the core, which requires support from agile fintech players. Legacy players that are in the process of migrating to the cloud are struggling with application modernisation, data centralisation and security, and as a result, banks that are born in the cloud are at an advantage. However, the cloud is not a solution in itself. From building agile platforms to meet the expectations of demanding customers, to crafting an optimised digital operating model, to instilling a strong work culture that goes beyond diversity, there are central challenges which must be addressed by banks in order to lay the foundations for a successful digital future. Banks now recognise the urgency of collaborating with the leading minds in the fintech industry, to craft and deliver the best products to their discerning customers. Download your copy of the report, in association with Backbase, to gain valuable insights from leading financial institutions and understand what will make UK banks successful into the future. The report includes insights from Atom bank, Coventry Building Society, first direct, HSBC, Investec, Lloyds Banking Group, Nationwide, NatWest, OakNorth, Standard Chartered, Tandem Bank, and Yorkshire Building Society. Additionally, join us for a Finextra webinar with Backbase, to gain insights from an industry expert panel discussion on how a future-proof digital banking operating model can reconcile digital and personal - Engagement Banking: Orchestrating the Customer Experience




Scaling with Purpose: Building a positive culture and proper governance through growth

Speaking at Innovate Finance Global Summit 2023, Nadia Edwards-Dashti, Chief Customer Officer, Harrington Starr, talks about what a positive work culture looks like, what business leaders must remember when in market volatility and what people really want from their workplaces.


Long reads

Aoibhinn Mc Bride

Aoibhinn Mc Bride Content Editor at Jobbio

No gender pay gap at executive levels in European tech report reveals

From Equal Pay Day, which takes place in the UK every November, to International Women’s Day, a global movement which occurs on 8th March annually, the conversation surrounding pay disparity is nothing new. However, a new European study by Ravio has found that when it comes to the gender pay gap within tech, junior staffers who are female suffer th...

Amanda Kavanagh

Amanda Kavanagh Contributor at Jobbio

CEO survey predicts full return to in-office working by 2026

KPMG’s latest CEO Outlook survey makes for grim reading for those currently enjoying remote and hybrid working. Out of 1,300 global CEOs of some of the world’s largest businesses, two-thirds (68%) predict a full return to in-office working by 2026. And worse still, 87% of leaders believe financial rewards, favourable assignments, and promotion opp...

Sandi Wassmer

Sandi Wassmer CEO at enei

Fixing the disability employment gap in the financial services sector

The career prospects for disabled people in the UK are pretty bleak. Disabled people face barriers in education, seeking employment, getting paid fairly when in employment, and in progressing into management and leadership roles. Although these exist across every sector, the financial services sector employs fewer disabled people than most others ...