It is no secret that the science of decision-making has been deeply impacted by behavioural principles in recent years. We spoke with Professor Ivo Vlaev about the mainstreaming of behavioural economics and why corporate strategists should embrace its powerful insights.
Pioneered in developing countries, mobile banking is proving a disruptive force to providers of traditional banking services, as telcos, online providers and others create offerings of their own. Initially wary, many banks are now looking to partner with such organisations, blending complementary skills and operational models. In a relatively young market, banks must decide whether to lead or follow. Doing nothing is no longer an option.
Cryptofinance technologies have the potential to revolutionise the financial sector by transforming business models, connecting new counterparties and generating sweeping efficiencies, but work needs to be done before the full benefits of the underlying blockchain technology are realised.
Banks will continue to be vulnerable to shocks without a high-performance risk-steering model; creating a ‘single point of truth’ that aligns risk profiles across products and markets provides a clearer view of the road ahead