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.
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 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.
Commercial & Retail Products & Services
Enterprise Management & Operational Processes
Channels ATMs; Branches & Stores Commercial/Retail Products & Services Cards; Credit Products; Deposits Enterprise Management & Operational Processes Business Continuity Planning; Business Line Profitability; Change Management; Enterprise Governance; Process Optimization; …