Top global experts and Caribbean financial services specialists discuss how Credit Unions can create an institution-wide attitude which protects themselves and their members in the digital world.
Learn from top global experts and veteran Caribbean bankers how a thoughtful, strategic approach to digital transformation can improve member experience, institutional outreach and operational efficiency.
Alliances & Partnerships Strategic Alliances & Co-operative Models Channels Agents & Merchants; Branches & Stores; Contact Centres; External Services; Third Party Sellers Commercial/Retail Products & Services Cards; Credit Products; Customer…
COVID-19: How to Survive Today…and Thrive Tomorrow? Digital Financial can help you answer these challenges.
Digital Financial is very pleased to have the opportunity to participate in FATF's consultations with the private sector on the proposed guidance on proliferation financing. Lisa Skinner hopes to bring attention to the disproportionate burden which may be placed on small, low-risk institutions such as credit unions and community-based banks, especially those in small and complex jurisdictions such as the Caribbean.
Louis de Koker shares his insights on the tension between measures to combat crime and the need to bolster financial inclusion in a working paper drafted in response to changes in the Financial Action Task Force’s risk-based approach.
Alliances & Partnerships Fintech Partnering; Loyalty & Rewards Programmes; Strategic Alliances & Co-operative Models Channels ATMs; Branches & Stores; Contact Centres; External Services; Internet Channels; Mobile Device Channels; Third Party…
Award-winning financial services technology executives Matt Zufelt and Jeremy Green team up in the latest instalment of Digital Financial’s Future of Finance insights series to walk through the critical elements of planning and executing a successful digital transformation.
Learn from top global experts and veteran Caribbean financial services leaders (Dr. Brad Pragnell, Paul Makin, Robert Frederick & Earl Gill) how today’s payments systems improve efficiency, security, and member experience.
In the first installment of Digital Financial’s Future of Finance insights series, veteran banker Robert Frederick draws upon 40 years’ experience at leading financial institutions across the Caribbean to craft a roadmap toward accelerated migration to digital banking in the heavily cash-dependent region.
Challenge An international industry standards-setting organisation needed to offer comprehensive guidance on the use of digital identity in digital financial services. This was in accordance with United Nations Sustainable Development Goal #16—the creation of effective, accountable, and inclusive institutions at all levels—which includes a requirement to provide legal identity for all by 2030.
Challenge A major international bank operating in multiple markets was faced with tightening margins, flat-lining economic activity, and unsatisfactory productivity ratios. Each of the bank’s operations was standalone, with branches carrying out the majority of their own mid- and back-office functions. Regulation differs and is evolving in each of the bank’s markets, making it increasingly complex to stay up-to-date and ensure compliance.
Challenge A leading bank was suffering unusually high levels of retail loan delinquency, which spiked above 20% during an economic downturn. Lending staff were rewarded on the basis of loan volume rather than quality while most loan underwriting and all collections were done solely at the branch with minimal audit.
Challenge A second-tier bank with a strong multichannel platform that was focused on the mid- to low-income retail and SME market enjoyed a decade of rapid growth during a buoyant economy. While the bank’s credit and market risk management capabilities successfully kept pace with its expansion, its efforts to manage interest rate risk, liquidity, and profitability resulted in divisionally siloed solutions: a clear vulnerability as it entered a more uncertain period for economic growth and interest rates.
Semester-style Long Programmes
Individual or Small Group Coaching
Challenge Growth in a national mobile money platform had flat-lined after launch. With minimum viable product in the market, the creators were seeking a plan for new products and services to reignite interest and user enrolment, particularly among the underserved.
Challenge A South Asian government was seeking to bolster formal financial inclusion and digital service offerings for small players. To that end, the state bank, in collaboration with two international development institutions, planned to launch a high-volume micropayments gateway, in the understanding that any such platform would have to adhere to the strict guidelines of governance, interoperability, and inclusion required by the donor partners.
Challenge The Ministry of Agriculture and Rural Development in a West African nation needed to strengthen security, reduce corruption, and improve delivery of agricultural vouchers to subsistence farmers. However, most of the target segment lived off-grid with neither mobile data nor electricity and possessed limited identity documentation.
Challenge A market-leading bank with multiple business lines—including deposits, secured and unsecured credit, payments, investments, and insurance—had siloed digital channels that created an uneven customer experience and a poor sales environment. The bank aimed to improve efficiency, increase sales, and hold onto its market share vs. both traditional rivals and emerging fintech challengers.
Drafting of Laws & Regulations
Challenge A country in southwest Asia wanted to improve access to financial services for both citizens and for a significant refugee population. Concerns about inclusion and efficiency, along with the important role of cross-border remittances, indicated that digital financial services would offer the best solution. To enable the roll-out of DFS, the country’s central bank—backed financially and technically by two international development institutions—required the creation of an appropriate regulatory framework.
Business Continuity Planning
Mobile field Customer Relationship Management (CRM) is rapidly becoming an essential element of almost every digital financial service strategy. It is also key to the challenges of supporting micro-finance and financial inclusion in socially and geographically remote areas. Paul Makin offers some ideas on best practices.
Capital & Liquidity Adequacy
Payments Inclusion Improvement
Payments Governance Structures
M&A Opportunity Identification
Regulatory & Supervisory Technology
Legal & Regulatory Frameworks
Micro & Small Business Products
Services for Protected Persons
Financial Crisis Recovery Planning
Customer & Product Profitability
Capital & Expense Management
Programme/Project Management
Communications & Content Strategy
Technology Licence Management
Legacy Technology Transition