#Financial System

[reality-detective]

The QFS(Quantum Financial System) has been activated 👇

Just because you don't see it yet doesn't mean nothing is happening 🤔

[econsociology]

Is the the much-vaunted independence of central banks necessary in the preservation of financial stability and the management of financial crises? A Governor of the Central Bank of Ireland (2009-15) Patrick Honohan wrote for the ES/PE community about his new book in which he explores these issues and makes practical suggestions on how this should be done>>

[greatprinceofabraham]

#FinanceLog

.@_whitneywebb "raises concerns about a...push to create an alternative #financialsystem based on the #blockchain that will allow the #globalelites to achieve their long-time dream of the absolute subjugation of the #humanrace."

#Malthusianism

https://youtu.be/FydT74Kg07E?si=p8Uud6rDZGDa5mOj

[mitsde123]

How Banks Are Enhancing Customer Experience with Chatbots

The banking and finance sector is undergoing a transformative shift, with chatbots revolutionizing customer interactions. Powered by AI, these tools offer 24/7 support, personalized advice, and instant query resolution, making financial services more efficient and accessible.

Leading banks like HDFC’s EVA and SBI’s SIA have successfully implemented chatbots, redefining customer experiences with real-time assistance and secure transactions. As chatbots evolve, their role in enhancing financial guidance and fraud prevention will expand, creating a growing demand for skilled professionals.

Pursuing an online PGDM in Financial Services or a PG Diploma in Banking can equip you with the expertise to thrive in this innovative landscape. With programs focusing on AI applications and digital transformation, these courses are your gateway to a dynamic career in the ever-evolving financial system.

Read More

[ujaglobaladvisory]

In an increasingly interconnected world, financial institutions are both pillars of economic stability and prime targets for cybercriminals. As they embrace digital transformation to enhance customer experiences and operational efficiencies, the risks associated with cyber threats continue to escalate. From sophisticated ransomware attacks to pervasive phishing schemes, the landscape of cyber threats is vast and evolving, posing significant challenges for banks, credit unions, and other financial services.

Understanding this landscape is critical for financial institutions not only to protect their assets and sensitive data but also to maintain customer trust and comply with stringent regulatory requirements. This blog delves into the current threats facing financial institutions, the motivations behind cyberattacks, and strategies for effective defense.

As cyber threats continue to evolve, financial institutions must stay vigilant and proactive in safeguarding their assets and customer trust. A comprehensive, multi-layered security approach is essential, encompassing risk assessments, robust security measures, and ongoing employee training. By understanding the motivations behind cyberattacks and implementing effective defensive strategies, institutions can mitigate risks and enhance resilience.

Fostering a culture of cybersecurity awareness not only protects sensitive information but also reinforces the integrity of the financial system. By prioritizing security and compliance, financial institutions can successfully navigate the cyber landscape and ensure the safety and trust of their customers for the future.

To know about the full blog insights visit here- https://uja.in/the-new-india/cyber-threat-landscape-for-financial-institutions/

[kntxt]

[whats-in-a-sentence]

Four seminal events combined to set the stage for the dramas that embroiled Westpac Banking Corporation in the 1980s: Bob White taking over as chief of the Bank of New South Wales in 1977, an experiment in organisational change inspired by the credo of 'management by objective'; the merger in 1982 of the Wales and Victorian-based Commercial Bank of Australia (CBA) which formed Westpac; and the opening up of the Australian financial system to new players which exposed a staid and protected banking industry to the exhilarations, and quicksands, of real-world competition.

"Westpac: The Bank That Broke the Bank" - Edna Carew

[tenth-sentence]

The story is a salutary reminder of the management challenges confronting large institutions as they try to grow larger; it highlights issues of corporate governance and raises many questions relevant to bank supervision which are even more pertinent in the wake of the Wallis Committee's report on the Australian financial system.

"Westpac: The Bank That Broke the Bank" - Edna Carew

[exit-babylon]

[acquisory]

KNOWING ALL ABOUT ACCOUNT AGGREGATOR NETWORK

The Finance Ministry last week unveiled the Account Aggregator (AA) network in banking with eight of India’s largest banks. An Account Aggregator Network is a financial data – sharing system. The network will revolutionize the investment and credit markets, and shall give millions of customers greater access and control over their financial records and expanding the potential pool of customers for lenders and fintech companies. It is a kind of dashboard of all our financial data.

About Account Aggregator

The Account Aggregator (AA) empowers the individual with control over their personal financial data.

Impact of Account Aggregator on the common man’s life

Indian Financial system involves many processes for consumers today - sharing of physical signed and scanned copies of bank statements, running around to notarize and stamp documents or to share personal username and password to give your financial history to third party. The AA network would replace all these with a simple, mobile based and safe digital data access & sharing process.

The Individual’s bank only needs to be connected to the AA Network. AA system in banking has been launched with the eight largest banks in India, four are already sharing data on a consent basis (Axis, ICICI, HDFC and IndusInd Bank) and four are going to be enabled soon (SBI, Kotak Mahindra Bank, IDFC First Bank and Federal Bank).

Type of Data that can be Shared

Read more: https://www.acquisory.com/ArticleDetails/87/Knowing-All-About-Account-Aggregator-Network

[smbmatters]

Digital Finance Revolution: How Technology is Transforming Money Management

In the rapidly evolving landscape of finance, the emergence of digital technologies has sparked a revolution in the way we manage and interact with money. From mobile banking apps to blockchain technology, the digital finance revolution is reshaping traditional banking systems and opening up new opportunities for individuals and businesses alike.

Embracing Innovation in Financial Services

The digital finance revolution is driven by a wave of innovation that is transforming the financial services industry. Traditional banking models are being challenged by fintech startups and tech giants, offering innovative solutions such as peer-to-peer lending, robo-advisors, and contactless payment systems. These technologies are not only making financial services more accessible and convenient but also driving efficiency and cost savings for both consumers and providers.

The Rise of Mobile Banking

One of the most significant developments in digital finance has been the rise of mobile banking. With the widespread adoption of smartphones and mobile devices, consumers now have unprecedented access to their finances at their fingertips. Mobile banking apps allow users to check their account balances, transfer funds, pay bills, and even apply for loans—all from their smartphones. This convenience has revolutionized the way people manage their money, making banking more accessible and convenient than ever before.

Blockchain and Cryptocurrency

Another key driver of the digital finance revolution is blockchain technology and cryptocurrency. Blockchain, the underlying technology behind cryptocurrencies like Bitcoin and Ethereum, offers a decentralized and transparent ledger system that has the potential to revolutionize financial transactions. Blockchain technology has applications beyond cryptocurrency, including smart contracts, supply chain management, and identity verification, making it a powerful tool for transforming various aspects of the financial industry.

The Future of Digital Finance

As we look to the future, the digital finance revolution shows no signs of slowing down. Emerging technologies such as artificial intelligence, machine learning, and big data analytics are poised to further disrupt the financial services industry, offering new insights, products, and services to consumers and businesses alike. From personalized financial advice to automated investment strategies, the future of digital finance promises to be exciting and full of possibilities.

Conclusion

The digital finance revolution is reshaping the way we interact with money, offering new opportunities for innovation, efficiency, and accessibility. From mobile banking apps to blockchain technology, digital technologies are transforming traditional banking systems and opening up new possibilities for individuals and businesses alike.

As we embrace these changes, we must also be mindful of the challenges and risks they present, from cybersecurity threats to regulatory concerns. By staying informed and embracing innovation responsibly, we can harness the power of the digital finance revolution to build a more inclusive, efficient, and secure financial system for all.

[jcmarchi]

AI Will Be Responsible For 60% of Corporate Loan Decisions in Russia's Sberbank Before the End of 2024 - Technology Org

New Post has been published on https://thedigitalinsider.com/ai-will-be-responsible-for-60-of-corporate-loan-decisions-in-russias-sberbank-before-the-end-of-2024-technology-org/

AI Will Be Responsible For 60% of Corporate Loan Decisions in Russia's Sberbank Before the End of 2024 - Technology Org

By the conclusion of this year, Sberbank, Russia’s leading financial institution, intends to rely on artificial intelligence (AI) for decision-making in 60% of its corporate loan approvals.

Sberbank at Web Summit (image from 2016). Photo credit: Web Summit via Flickr, CC BY 2.0

This future direction was revealed by CEO German Gref. Such strategic shift towards AI marks the organization’s general emphasis on digital transformation and the integration of AI into the bank’s operations.

Sberbank is making substantial investments, exceeding 450 billion roubles ($5 billion), in its IT infrastructure from 2024 to 2026. During this period, the bank anticipates generating approximately 800 billion roubles in profit from AI-related initiatives.

This move comes as Russia adapts to a landscape without Western technology due to sanctions related to the conflict in Ukraine.

AI is already steering lending decisions at Sberbank, covering consumer credit, mortgages, and car loans, with 40% of corporate lending decisions also influenced by AI, according to CEO German Gref. He aims to elevate this figure to 60% by the end of 2026 and ultimately reach 80%.

Sberbank, with over 3 million corporate clients, is diversifying into hardware, including microchips and servers, and reducing reliance on external vendors. The bank has even developed its own operating system, replacing computer equipment gradually.

Written by Vytautas Valinskas

You can offer your link to a page which is relevant to the topic of this post.

[mitsde123]

How Global Economic Trends Impact Banking Services

The world’s financial system can feel like a complex machine with countless moving parts. But here’s the secret: it’s actually quite connected! 

Events happening across the globe can have a ripple effect, impacting everything from the price of groceries to the interest rates on your loans. Today, let’s explore how these global economic trends influence the way banks operate and, ultimately, the services they offer to us.

[jbfly46]

[weirdzy1313]

Who creates jobs, the government in a way, right? After all, the govt has to approve that all jobs meet regulation standards before being approved as an actual job, right? Does it require money to approve of anything, even if it’s a job?

#jobs #linkedIn #job-creation #approval #government-regulation #regulation #job-ceiling