5,821 days. That’s the time that separates Silicon Valley Bank’s (SVB) collapse and the failure of real estate investment trust New Century in 2007, notably the first domino to fall in the Global Financial Crisis (GFC) of 2007-08. Last week’s events represent a sobering reality check. In 2023, banks can
Tag: financial services
When The Arab Academy for Management, Banking & Financial Sciences (AAMBFS) began looking for a business partner to help prepare a new generation of students for the increasing role analytics plays in the finance and business sectors, they took a very non-academic approach. Unlike traditional university programs focused on a
Being an industry disruptor is a lonely place to be – but if you’re successful, the rewards are well worth the initial risk. Betting big on your new way of doing things takes courage, and is only the first step in a risky process. Your next critical step is to
I have a short attention span. So, imagine my delight when a colleague of mine introduced me to theSkimm. If you are not familiar, theSkimm takes the top news stories of the day and summarizes them quickly, in ways that are easy to understand – and often linked to pop
We often hear from retail bank customers that they aren't satisfied with the revenue captured through digital channels. It was therefore with great interest that I embarked on the mission to understand Chris Skinner’s book Digital Bank. Why we need digital banks The book starts by painting the landscape of
The start of the year seems to have been full of uncertainty for European financial markets. This seems to apply to everything from Greek debt to bankers’ bonuses and, despite access to so much information about what is happening globally, it remains difficult to understand what is certain fact and
As the Basel Accords continue to drum up attention in the global financial markets, many institutions are looking at how they can strike a balance between capital requirements and competitive advantage. One area of focus is consumer credit risk modelling and scoring, as the more accurate and robust the models
Recently I had the privilege to attend two customer events hosted at SAS’ new Executive Briefing Center. The first was a two-day SAS anti-money laundering (AML) customer connections workgroup which was then followed by the 7th Annual Terrorism Financing and Money Laundering Forum. Some of you may be thinking, “Isn’t anti-money
New for this year's Annual Terrorism Financing and Money Laundering Forum, the afternoon sessions were divided into two tracks, anti-money laundering (AML) and fraud, each featuring a topical presentation and a panel discussion. During the AML panel discussion on emerging trends, representatives from several US law enforcement agencies and the
Sunday marked 10 years since the Sept. 11 terrorist attacks forever changed our focus on threats to US security. Last week, SAS hosted the 7th annual Terrorism Financing and Money Laundering Forum, a day of information sharing among the key players from both the public and private sectors in the
The SIFMA Financial Services Technology Leaders Forum and Expo came to Midtown New York City in mid-June to more fanfare than in the past few years with speakers including Jim Cramer, Art Cashin, Gillian Tett, senior executives from capital markets firms including NYSE Euronext and DTCC, and regulators from the
The first-annual SPARK! Financial Services Executive Summit used an unexpected approach to collaboration to generate unconventional ideas about the future of financial services. The ideas came from enthusiastic and engaged senior executives from across the financial services industry who are all committed to improving the industry’s image in the eyes
Recently I was listening to an NPR (National Public Radio) documentary about the history of cancer and medicine’s evolution in understanding and treating cancer. This was an amazing story. I would venture a guess that nearly everyone who is reading this post has been affected by cancer in one way
I’m attending a Bank Administration Institute (BAI) event in Las Vegas this week. BAI is well-respected for its research, professional development and networking opportunities for banks and banking professionals. The conference, BAI Retail Delivery, is primarily attended by community banks and large regionals, but the topics are anything but colloquial.
Here's something you don't expect to hear from a banking executive: "The best thing that happened is the financial crisis." Of course, Tonny Rabjerg is not your standard banking executive. He's the Vice President of CRM Systems at Danske Bank. "I know the financial crisis is not good for the
Over 80 banks in America have been closed down this year and others have announced higher trading losses amidst increased regulatory scrutiny. Finland was the first country to announce a double dip recession. Northern Rock cut 650 jobs as part of their restructuring efforts. We’re obviously not out of the
SAS and the Economist Intelligence Unit (EIU) have announced the release of the 2010 EIU report, "Rebuilding trust: Next steps for risk management in financial services," sponsored by SAS. The 2010 report includes the results of an online survey - that attracted 346 global respondents, all executives with risk management
Recent research conducted by the Economist Intelligence Unit on behalf of SAS illustrates both the scope of the proposed reforms and the scale of the challenge ahead in risk management. In March 2009, the Economist Intelligence Unit conducted a global survey of 334 senior financial services professionals, of whom 50
In the long-running television sitcom “Seinfeld,” Jerry’s neighbor (and nemesis) Newman often commented on his job as a U.S. postal worker. Making fun of the mail; and post office; was a recurring theme. In the show’s final season, one episode was even titled “The Junk Mail I was reminded of