Changing Business Environment The shift in economic policies in the US, UK & the European Union in the post pandemic period, involving high interest rates and tightening liquidity had its impact in the Wealth Management (WM) business too. After more than a decade... View
Profitability Pressures The average global operating profit margin of Wealth Managers fell by 11.6% between 2020 & 2022. Wealth Management (WM) firms have been feeling the pressure of rising cost of operations, with personnel cost estimated to be a major factor.... View
Evolution of Customer Experience Personalization Segmentation of customers & tailoring customer engagement based on segment traits has been in practice for quite some time. However, with advances in technology, today it is possible to capture salient features of... View
Core banking systems, the backbone of financial institutions, are undergoing a profound transformation to meet the ever-evolving demands of a digitally empowered customer base. This modernization, while complex, is undeniably necessary for banks to remain competitive,... View
Generative AI, with its astonishing capacity to create original text, code, and images, is poised to revolutionize retail banking. The industry is ripe for this technology’s transformative impact, promising to elevate personalization, streamline operations, and... View
Regional banks are not behind on AI in software delivery. They are ahead. The real question is whether test automation moved with them. Most bank technology leaders have this backwards. The assumption, understandably, is that regional banks and credit unions are playing catch-up on AI, that megabanks with larger technology budgets are further along. The […]
Development moved faster this year. Most quality engineering functions did not move with it. Here is how to tell if yours is one of them. Ask most CIOs, CTOs, and Heads of Engineering at regional and challenger banks whether their development teams got faster this year, and the answer comes quickly: yes, obviously. Ask the […]
Banks increasingly consume AI through vendor APIs, SaaS platforms, cloud services, and embedded features. Proprietary architecture can limit visibility, but it does not transfer accountability. SR 26-2 states that model risk principles remain applicable to vendor products and calls for institution-specific understanding, validation, monitoring, and outcome analysis. A vendor model card is an input to […]