Financial Services
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Fintech: Banking's Friend and Foe In 2020
Read the rest of this entry »What American Banker sees as the tech challenges of banks in 2020 can be summed up in one word: frenemy. From fintech collaboration to "Big Tech" competition, the financial services sector will struggle with the challenges these digital banking startups pose.
"As a new decade begins, one of the major unresolved issues of the previous few years continues to haunt banks — when and how Big Tech will jump into ...
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Accounting Firms Should Hire Differently In 2020
Read the rest of this entry »As the saying goes, "Every obstacle is an opportunity in disguise," and that's just how CPATrendlines described a look ahead at the challenges CPAs will face next year.
Headlined "2020 Outlook: Top 5 Emerging Risks for CPAs," the article carries a subhead that declares them to also be, "The top five emerging opportunities, if you handle them right."
Written by an EVP at Aon, the article hits on the risks ...
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Banking's Parties Just Aren't So Much Fun Anymore
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End of the year bank parties just aren't what they used to.
From flowing Dom Perignon bashes that lasted well into the night, today's affairs end by 10, bemoans an anonymous senior banker. "Just like the share prices of most European banks, Christmas parties have fallen off a cliff," says the pseudonymous Peter Flower.
"What used to be extremely fun events, that brought people closer to their clients and managers ...
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Think Twice Before Turning Down a Banking Job
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If you're eager for a job in finance, now might not be the time to be picky.
Despite what you've heard about this being a job hunter's market (true enough), the banking industry may soon be tightening its hiring. eFinancialCareers editor Sarah Butcher advises, " Next time you receive an offer for a new banking job, even if it's not exactly the sort of thing you had in mind, you ...
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Will Machines Take Over Wall Street?
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"Machines are taking control of investing - not just the humdrum buying and selling of securities, but also the commanding heights of monitoring the economy and allocating capital."
That's how The Economist begins it's cover story on the increasingly important role of artificial intelligence in the world's financial markets. It's a sober examination of how machines have evolved from acting on orders set by traders to analyzing more social and ...
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Pay Is Banking's Biggest Recruiting Challenge
Read the rest of this entry »Banks are having a difficult time attracting and keeping younger workers, yet close to three-quarters of them have no strategy for recruiting them.
That's one of the key findings of this year's Bank Compensation and Benefits Survey from the accounting and consulting firm Crowe Global. Of the 778 financial institutions taking part in the survey, 56% admitted retaining younger workers was at least somewhat challenging. But only 14% said they ...
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Fintech's Jobs of the Future Are Already Here
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The fintech revolution is changing just about everything the banking industry does. Just as ATMs freed us from teller lines and made cash available at any hour, fintechs want to obsolete physical banks .themselves.
It's a long shot -- for now -- but among the impacts these online-only financial services are already having is disrupting traditional industry jobs, and creating (by one account anyway) jobs with futuristic titles like "sustainable ...
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Banks Betting Big On Fintechs
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Even as they're competing with the online banking fintechs, US banks are investing in other types of fintech startups.
Describing it as "future-proofing," CB Insights says the financial services sector is pouring billions into a diverse group of fintechs that include startups in wealth management, payments & settlement, real estate, lending and blockchain. So far this year, banks have participated in 24 fintech deals, says CB Insights, a pace that ...
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Older Workers Are the Solution to Banking's Talent Shortage
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Employers' "obsession," as a MarketWatch article termed it, with hiring millennials and even younger digital natives is especially hurting the financial services industry, as the interest is unrequited.
A Deloitte Insights article says the financial institutions worldwide are facing two critical employment trends: "a pervasive talent gap and a boom in the number of baby boomers still employed or seeking employment in their workplaces."
Deloitte says the talent gap is ...
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Alternatives Future Is In Digitalization and New Jobs
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New research from Willis Towers Watson suggests it will be technology that differentiates alternative assets fund managers in the future.
To be sure, there are other ingredients to asset manager success. A strong culture, the ability and the willingness to accept and deal with change and well-positioned business models are among the six attributes that the report -- The asset manager of tomorrow -- says are "critical requirements to asset ...
