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Banking

Banks nowadays are in stiff competition for human resources with fintech. The financial technology sector often offers higher pay. Still, the prospects of many such start-ups are difficult to forecast – they are as likely to occupy a solid niche as they are to go bust. Stable companies in Latvia are only a handful. Primarily, fintech players active in Latvia are headquartered in foreign countries – the United Kingdom, to name one – despite maintaining offices in Riga and employing staff in Latvia

originally founded 24 Jan 2023

Taken over by Terence Creighton

Head of Retail Banking Delivery

GFT Financial

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Shiv Nanda Content Strategist at https://www.financialexpress.com/

Audit Checklist for Bank Advances | Loan Classification & Audit

Advances are banks’ primary income source and are usually the largest item on their balance sheets. Therefore, the audit of advances is a critical aspect of bank audits and falls under the responsibility of Statutory Branch Auditors (SBA). To effectively carry out this task, auditors must possess sufficient knowledge about the banking industry and...

11 July 2023

Bob Lyddon Consultant at Lyddon Consulting Services

FarageGate shows the ‘Trusted KYC Data Sharing’ project must be stopped

Whatever one’s opinion of Nigel Farage, the concept that he can be de-banked should be troubling to everyone. It should be even more troubling to those familiar with the financial industry’s measures to counter financial crime, as remedies being applied by banks are more extreme than is required of them, and may not even be available to them in th...

05 July 2023 /payments /crime

Christian Schwarz European Head of Payments at Finastra

5 considerations for European banks implementing an instant payments solution

The European Commission’s move to mandate instant payments (IPs) is expected to bring enormous benefits to consumers, businesses and the industry, such as improving customer experiences and cash flow management, as well as bringing ubiquity to the pan-EU payment zone. The upcoming EU regulation – intended to drive uptake of instant payments across...

05 July 2023 /payments

Nick Green Director at Purple Patch Broking Ltd

Is your current data bureau meeting your needs?

The right data bureau will offer their services in the most transparent and flexible way, as well as be a valuable asset to your credit risk team. But how do you know if your current bureau is the ‘right fit’? If you’ve decided to review existing suppliers, you probably have no idea where to begin your research. On the other hand, you might be war...

04 July 2023 /retail /crime

Retired Member

How can banks capture the full value of customer data?

Data continues to be a hot topic, with recent breakthroughs such as ChatGPT highlighting even more the transformational effect that AI and data will have on the way we live and work, and how service providers engage with customers. The key thing to remember, however, is that the true power of AI – and the value it can bring – relies on the quality...

03 July 2023

Prasoon Mukherjee Director | Head of Securities Services | GSC-India at Societe Generale Bank

Bridging the 'EQUITY' gap in embracing inclusion.

One of the fundamental reasons diversity in middle management and leadership levels is crucial is because of its potential to foster a broader range of perspectives and ideas. When leaders come from diverse backgrounds, they bring unique insights and experiences that can challenge the status quo, plus question assumptions. This diversity of though...

02 July 2023 /people /sustainable

Grant MacDonald Director of Financial Crime at Experian

The three key characteristics to detect money launderers in the financial sector

The growing complexity of the financial sector is creating new opportunities for money launderers. As a result, it is essential that financial institutions are equipped with the appropriate knowledge and resources when it comes to identifying financial crime. Money laundering poses a lasting threat to the global financial system, enabling criminals...

20 June 2023 /identity /crime

Sergei Artimenia Managing Director at RNDPOINT.com

How to get an Electronic Money Institution (EMI) license in Europe?

In recent years, the European financial landscape has experienced a significant shift with the rapid growth of electronic money institutions (EMIs). This has been fueled by the increasing demand for innovative and convenient digital payment solutions, as evidenced by the success of companies like Revolut and TransferWise. As a result, many entrepr...

18 June 2023 /payments /retail

Igor Tomych Founder/CEO at Dashdevs

Empowering the Future of Banking: My Top 10 Picks for ChatGPT Use Cases in the Industry

Artificial intelligence (AI) has become a game-changer in the world of financial services, with a broad range of applications such as investment banking, insurance, wealth management, and others. ChatGPT is a prominent AI technology for investment banking, a generative pre-trained transformer language model capable of delivering virtual assistance...

14 June 2023 /retail /predictions

Retired Member

The future of banking policies

The future of banking policies will be shaped by a range of factors, Stricter regulations are expected to be implemented to ensure financial stability, combat money laundering, and protect customer data. The advent of advanced technologies, such as blockchain and artificial intelligence, will influence policy developments, enabling more efficient ...

12 June 2023 /retail /predictions