Local and international trends have transformed the way banks operate, affecting their capital positions and profitability. In particular, ongoing digitalisation programmes and technological innovation continue to add pressure on traditional banking models, including the supply chain. While management’s focus on capital preservation, profitability and growth for shareholders remains, risks from an...
With the current ultra-low interest rate environment and market volatility having a negative impact on banks’ returns and, ultimately, their capital positions, operating models must quickly adapt and become more cost-efficient to maintain profitability. This drive for cost-efficiency has become more apparent as innovation in technology and ongoing digitalisation have further upended traditional banking...
With governments in many countries around the world eager to support pandemic-hit economies with cheap money, interest rates have been kept low or reduced further. A low interest rate environment is challenging for banks who are expected to pass on rate reductions to borrowers but are restricted in their ability to reduce funding costs from already low-cost deposits. So, what are they to do?
In the last five years, traditional banks have faced immense disruption by new players in the field. Today, the pandemic accelerated that disruption: In 2020, more than half of banking customers surveyed in APAC were willing to switch to neobanks, or new digital contenders. What makes consumers reconsider their options, and could 5G be the key to this switch?
Up against great economic and societal upheaval as a result of Covid-19, banks around the world continue to take sustainability seriously and firmly acknowledge the related risks and opportunities, for the market and wider stakeholders alike. For the second year running, Mazars publishes its responsible banking practices report to assess how banks embed sustainability into their commercial practices.
For many years the branch has been at the heart of banking operations across the world, simultaneously playing the role of service delivery hub, sales outlet, processing centre and unit of account. In more recent times the branch has been somewhat upstaged by digital channels and the promise to revolutionise everything from customer experience through to the economics of distribution. So what are...
The Financial Accounting Standards Board’s new CECL accounting standard went into effect on 1 January 2020 for institutions that were public business entities and SEC filers excluding smaller reporting companies (SRCs). At the onset of the covid-19 pandemic, the government introduced several regulatory rules that aimed at providing relief to organisations both from a financial reporting perspective...
The financial services (FS) industry has been undergoing rapid disruption for a number of years, and the impact of Covid-19 has only reinforced the need for innovation. Use of digital channels, for instance, has significantly increased during the pandemic and it will be some time until clients start returning to physical branches on mass, if at all.
With Environmental, Social and Governance factors, and responsible banking practices more broadly becoming an essential focus for the banking industry, Mazars has assessed how banks are embedding sustainability into their commercial practices.
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