Issue 47
Five critical factors for banks’ climate risk management Also inside...
To deliver an ESG strategy, a company must build an ESG culture The key for cost-cutting and sustainability goals
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EDITORS LETTER Chairman and CEO Varun Sash Editor Wanda Rich email: wrich@gbafmag.com Head of Distribution & Production Robert Mathew Project Managers Megan Sash, Amanda Walker Video Production and Journalist Phil Fothergill Graphic Designer Jessica Weisman-Pitts Client & Accounts Manager Chanel Roberts
FROM THE
editor Dear Readers’ I am pleased to present Issue 47 of Global Banking & Finance Review.
Business Consultants Rick Saikia, Monika Umakanth, Stefy Abraham,
For those of you that are reading us
Business Analysts Samuel Joseph, Dave D’Costa
This issue is filled with exclusive insights from financial leaders across the globe.
Advertising Phone: +44 (0) 208 144 3511 marketing@gbafmag.com
Climate Risk Management, ESG and Sustainability are on the minds of business leaders everywhere.
GBAF Publications, LTD Alpha House 100 Borough High Street London, SE1 1LB United Kingdom Global Banking & Finance Review is the trading name of GBAF Publications LTD Company Registration Number: 7403411 VAT Number: GB 112 5966 21 ISSN 2396-717X. The information contained in this publication has been obtained from sources the publishers believe to be correct. The publisher wishes to stress that the information contained herein may be subject to varying international, federal, state and/or local laws or regulations. The purchaser or reader of this publication assumes all responsibility for the use of these materials and information. However, the publisher assumes no responsibility for errors, omissions, or contrary interpretations of the subject matter contained herein no legal liability can be accepted for any errors. No part of this publication may be reproduced without the prior consent of the publisher
for the first time, welcome.
In this issue Richard Bennett, CEO of Razor Risk discusses the five critical factors for banks’ climate risk management. (Page 38) Shibu Nambiar, COO, Europe, Africa, and the UK at Genpact explains that to make sustainability sustainable and deliver a successful ESG strategy, businesses must first build an ESG culture. (Page 20) Don’t miss, the insights from Jonathan Rothwell, CEO & Co-Founder D55 where he explains how the cloud is key for cost-cutting and sustainability goals 32. We strive to capture the breaking news about the world's economy, financial events, and banking game changers from prominent leaders in the industry and public viewpoints with an intention to serve a holistic outlook. We have gone that extra mile to ensure we give you the best from the world of finance. Send me your thoughts on how I can continue to improve and what you’d like to see in the future. Enjoy!
Wanda Rich Editor
®
Stay caught up on the latest news and trends taking place by signing up for our free email newsletter, reading us online at http://www.globalbankingandfinance.com/ and download our App for the latest digital magazine for free on Google Play and the Apple App Store
Issue 47 | 05
CONTENTS
BANKING
14
The future of digital banking and the growth of cheaper, faster and better services online
08
System Integration is key to successful mergers and acquisitions Nathan Shinn
Jeff Parker
Founder and CSO
Managing Director International
BillingPlatform
at Marqet
30
BUSINESS
Banking in the Year Ahead: Industry Standards and Digital Transformation Become Business Practice Shanker Ramamurthy Managing Partner Global Banking & Financial Markets
20
To deliver an ESG strategy, a company must build an ESG culture Shibu Nambiar COO, Europe, Africa, and the UK at Genpact
28
IBM Consulting
Should businesses use ChatGPT for content marketing? Edward Coram James
COVER STORY... page 38
CEO Go Up
42
Job Market Predictions for 2023 Joe Mullings Chairman & CEO of The Mullings Group
44
With home energy prices soaring, offices need to prepare for an influx of workers Chantel Scheepers Chief Executive Officer of OakTree Power
Five critical factors for banks’ climate risk management Richard Bennett CEO Razor Risk
06 | Issue 47
CONTENTS
FINANCE
12
A holistic future – How can the pensions sector keep pace with widespread digitisation whilst serving the client’s needs
How biometrics provides retailers security, trust and competitive advantage Interview with Aida Hosseini – Global Marketing Manager
VP, Banks & Non-Bank Financial Institutions
Fingerprints
32
Cloud is key for cost-cutting and sustainability goals
Top Financial Practice Trends in Store for 2023
Jonathan Rothwell
Travis Forman
CEO & Co-Founder
Portfolio Manager
at D55
at Strategic Private Wealth Counsel – Harbourfront Wealth Management
24
16
Chris Corfield at Crown Agents Bank
18
TECHNOLOGY
36
6 Fintech Trends to Embrace in 2023 Ankur Rawat
How real-time payments are shaping the future of the payments Industry Lissele Pratt Co-Founder at Capitalixe
Director, Products and Solutions, Banking and Financial Services Newgen Software
46
Why Banking & Financial Services Organizations Must Prioritize Domain Security Richard Cahill Regional Leader at CSC Digital Brand Services
BVSC HONORABLY NAMED TO BE IN THE TOP 100 VIE TNAMESE SUSTAINABLE ENTERPRISES 2022 AND EXCELLENCE IN INNOVATION NEW TRADING SYSTEM VIETNAM 2022 Read about it on page 22
Issue 47 | 07
BUSINESS
08 | Issue 47
BUSINESS
System Integration is key to successful mergers and acquisitions Since 2010, over 500,000 mergers and acquisitions (M&A) have been completed globally – and that number keeps growing. According to a survey from KPMG, global mergers and acquisition activity in 2021 even surpassed pre-pandemic levels, nearly meeting the peaks of activity from 2007 and 2015. As a growing business tool in today’s economy, M&As can function as an essential method for corporate development. With the number of M&As predicted to climb over the upcoming years, a multitude of businesses are searching for ways to improve their M&A capabilities. The benefits M&As can provide businesses are endless, offering more products and services, and greater financial strength and economic power, leading to a higher market share and reduced competitive threat. They contribute to developing new social and economic environments that can help companies expand into new markets. However, whilst M&As offer a range of benefits, the challenges they produce are important to take note of.
Issue 47 | 09
BUSINESS
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