English in Banking blog
Smart process automation and analytics: How Optical Character Recognition can enhance productivity in core banking processes
Optical Character Recognition (OCR) Technology in FSI core processes
Optical Character Recognition (OCR) is the technological process of recognising and converting both handwritten and printed characters into editable and searchable data. It has two primary functionalities: eliminating manual data entry and extracting information automatically. For example if you wanted to digitalise and edit a paper contract, you could either spend a long time keying in the document, or you could use a scanner/photo and OCR to convert the file within seconds into an actionable file.
Big brands in the consumer and technology space have led the way – people want to identify with brands that are purpose-led. This is difficult in banking, where products and services are seemingly commoditised. What can banks do?
This blogpost is the first in our five part series on “Five strategic imperatives for marketing executives in banking.
Compliance functions in 2021 are facing growing pressure from stakeholders to simultaneously improve the effectiveness, adapt to changing regulation and reduce costs of compliance risk management.
These three key drivers require constant re-evaluation and functional analysis, in tandem with targeted transformation to meet stakeholder expectations – something that, as yet, is not widely adopted by Swiss financial institutions.
As the law on CO2 reduction going to a public vote later this year shows, climate change risk and environmental, social, and governance (ESG) issues are now a priority. Banks need to establish a strong control environment for ESG issues. With this comes an increased focus on the quality of data about the risks. Internal audit (IA) can bring the same structure and rigour to processes, controls and governance for ESG risks that they apply to internal controls in other risk areas.
The Swiss mortgage lending landscape in transformation - Platforms as one of three underlying drivers
This article is a continuation of our editorial "Strategic trends and implications for bank operating models". As part of the debate on how Swiss banks can transform their operating models towards the 'new normal', we discuss the possible future role of lending platforms.
Opportunities in the financial services industry with crypto assets have never been more promising than they are today. We are developing a series of blogs on crypto assets, with topics ranging from current market trends, to technological advancements, crypto asset-related regulation and integrating crypto asset offerings into banks’ portfolios. This is the first blog in this series; we hope you will enjoy reading it.
Changing FSI CRO priorities one year into the COVID crisis – Insights from the 9th Deloitte Risk Executive Network (REN)
In 2018, Deloitte Switzerland launched a Risk Executive Network (REN) for CROs in leading Swiss banks, to exchange views on risk in the financial services industry. The REN holds three events each year, attended by up to 15 CROs from leading financial institutions. The impact of COVID-19 on financial institutions, the economic downturn and the changes brought about by working from home all have far-reaching implications for risk, compliance and regulatory management functions. Prior to the regulatory measures that were taken in response to COVID-19, risk management in banks was concerned primarily with issues of scale and scope. Priorities have changed as expectations about the future have adjusted to today’s uncertain environment.
Over the past year, it has been rare to see a day without a climate change risk - related announcement by a financial institution, banking industry organisation or regulator. And a number of them touch on governance issues.
This article is the first in a series on how Swiss banks can transform their operating models towards a new normal. The Deloitte Financial Services Transformation team will be publishing on an ongoing basis its perspectives on the key implications, international best practice and potential solutions that banks might implement.
The impact of COVID-19 on financial institutions, the economic downturn, and changes to working practices have had broad implications for risk management. How has risk management already responded and what are the implications for strategically restructuring risk functions?