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- “The banking industry has changed dramatically over the years. While customers regularly walked into a branch to withdraw money, transfer funds, or seek information about products about 50 years ago, today, a majority of customers prefer to conduct basic financial transactions online, leading to the popularity of digital banking.”
How COVID-19 Pandemic will give impacts on digital banking in financial markets and institutions: Elaborate 3 opportunities and 2 challenges
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- MasterCard makes its analytics tools available to all of its member banks and other issuers. It knows that getting its clients to use these tools can be critical to keeping them as loyal customers. Discuss the steps that MasterCard can take to promote greater use of its BI and reporting tools by its clients. Who do you think larger or smaller clients will benefit most from MasterCard’s analytics tools? Why?8. You work for a financial services company. The company is unsure how to interpret the hype in the market about the implications of digital innovation and disintermediation for its own future. You recall having studied some podcasts about the use of digital currency & the use of satellite imaging to disburse financial support during pandemic. Explain to your financial services company: How the digital currency is likely to impact the financial services industry? How the introduction of digital currency is likely to impact the conduct of monetary policy for a country? What is the potential role and prospects for Canada in its attempt to introduce digital currency?Given the onset of online/digital banking nowadays, what are the risks thatpeople are faced with when they do digital banking? What are remedies to theserisks
- Give some pointer with a summary from the below paragraph Capital One must examine and update the Business Continuity Plan (BCP) as they navigate the present COVID-19 pandemic. A Business Continuity Plan outlines how the business will continue operations if there is an unplanned disruption in services, and assist businesses to overcome any future challenges. Many organizations never provisioned for a pandemic in their BCP. At the beginning of the pandemic, banks needed to determine how best they could serve their customers in the safest way possible. Where possible, Capital One Bank allowed and continues to allow employees to work from home. The work-from-home infrastructure needed to be developed with sufficient flexibility and controls where the company’s business continues, and that employees remain productive. Normal operations that are usually done face-to-face can be aided by technological advancements. In addition to the work-from-home environment and supporting infrastructure,…1)“Whether Payment Banks are threat to commercial banks and why their survival is still a question mark.” Comment. 2)“Financial Literacy is must for financial inclusion”. Discuss, keeping in mind the role of banks.CASELET: ABC Bank, one of the 26 PSBs of India, transformed itself into a process driven, IT-enabled bank, post nationalization. Over the past decade, ABC Bank had embraced new technologies by offering its services not only through internet but also through alternate channels including mobile banking at an early stage. Strategically, ABC Bank has positioned itself well at a time when rapid disruptive changes are taking place in the financial sector. It had faced the challenges in a much better way than many other peers through institutional leadership and digital drive. The history of ABC Bank's strategic digital positioning through its forward looking leadership is an example which is unique. The bank has set a target of becoming the 'Best Retail Bank in Customers' Perception by 2021'. The strategists at ABC Bank are pondering on the future course of action. It cannot ignore the competition from private banks and the new entrants but still has to step ahead of them if it has to…
- PREAMBLE Today, banks do much more than accept deposits or make loans. They provide a variety of financial service to meet the diverse requirements of their customers. The link between the customer and the bank is the banker. To serve customers well and fulfill their responsibilities, bankers must have a through working knowledge of banks products, service, policies, and practices. Banks also contribute to the community, the economy, and the welfare of the nation. As businesses that operate for the benefit of their shareholders, banks seek ways to operate efficiently and profitably. To achieve all these goals, banks form business alliances, merge with or acquire other financial institutions, and support technological innovations to deliver and streamline operations. Required: (a) Discuss why banks are special in every society.(b) Discuss two specific financial services provided by banks to meet the need of Small and Medium Enterprise (SME) in Ghana. (c) Discuss three ways in which…Many people are still afraid and hesitant to utilize online payment systems or digital banking to pay for their bills, exchange money for their desired goods and services, and rely on the manual, face-to-face payment system. How would the banks encourage more people to lessen their doubt about these methods and utilize the modern payment system for safer, faster, and more efficient transactions? Support your answer using at least two concrete examples."Digital transactions are increasing day by day but on the same pace cybercrimes are also increasing and moreover people are lacking digital financial literacy"
- Assume that you are reimagining the branch experience of specially-abled citizens for a large retail bank called SDBC. What is the process and steps involved in coming up with an innovative, inclusive experience?The term FinTech includes a huge range of products, technologies, and business models that are changing the financial services industry, referring to a big range of services from cashless payments, to crowdfunding platforms, to robo-advisors, and to cryptocurrencies. true or false?Banking, Strategy; Skills A large U.S.-based commercial bank with global operations recentlyinitiated a new program for recruiting recent college graduates into the financial function of the bank.These new hires will initially be involved in a variety of financial functions, including transactionsprocessing, control, risk management, business performance reporting, new business analysis, andfinancial analysis. Recognizing that they are competing with many other banks for the relativelysmall number of qualified graduates, the bank has assigned you to develop a skills statement to beused in college recruiting as well as an in-house training program for new hires. You have some oldtraining manuals and recruiting guides to assist you, but your boss advises you not to use them andto instead start with a fresh page. The reason for developing new materials is that the bank recentlyreorganized based on new management methods.Required1. Briefly explain 8 to 10 critical success factors for this…