Digitization
Ambitious ESG legislation and call for careful action to Austrian banks and insurers – The Austrian Renewable Energy Expansion Act Package 2021
On July 7, 2021, the Austrian Federal Parliament passed the Renewable Energy Expansion Act Package[1] (REEAP), consisting of the main Renewable Energy Expansion Act[2] (REEA) itself and of concomitant changes to the following federal statutes[3]: Green Electricity Act 2012[4] Electricity Sector Act 2010[5] Natural Gas Act 2011[6] Energy Steering Act 2012[7] Federal Act on the Regulatory Authority […]
Proposed “Electronic Trade Documents” law in the UK may spur global regulatory push towards Trade Finance and Insurance digitization
English Common Law is not only at the root of the 54 Commonwealth countries’ legal systems. It is also the source of de-facto globally accepted guidelines on working practices and expected standards in cross-border commercial transactions for major economic sectors such as Banking, Insurance, Asset Management and Shipping. For example, Brexit notwithstanding, a high percentage of […]
Human Friendly Automation Day 2021
Wir stehen vor einem Paradigmenwechsel in der Arbeitswelt. Doch damals wie heute wird der wichtigste Aspekt weitestgehend vernachlässigt: Der Mensch und seine persönliche Zukunft. IBM geht voraus: Mit dem weltweit ersten Human Friendly Automation Day am 21. September setzen wir dieses Zeichen der Entschlossenheit: Wir machen uns auf, um die “Bot-Ära” sozialverantwortlich und nachhaltig zu gestalten.
Leadership Skills in the Digital Transformation Wave
In an era of unprecedented change, many companies are faced with the challenges of digital transformation. Becoming a digital business means using technology to create new value in business models, customer experiences and the internal capabilities that support core operations and generate efficiencies at the same time. The successful adoption of new technologies and digital […]
Regulatory developments in the Crypto-Asset space – implications for Crypto-Custody at German Banks
Recent legal developments in Germany and internationally point to a step-change in the acceptance of Crypto-Currencies and other Crypto-Assets as being legitimate parts of private and institutional investment portfolios. The new German law allowing all electronic securities to be recorded using blockchain technology aligns with the 2019 strategy paper on blockchain by the Federal Government, […]
Intelligent Workflows in Banking: End-to-end digitization of credit processes creates added value for corporate customers
Financial service providers are part of their customers‘ solution The current health and economic crisis emphasizes the role of banks and savings banks in our economic system. Their role is, among other things, to remain good partners to their customers who are in a state of emergency and to provide flexible financing solutions in an […]
Nachhaltigkeit – Wege in die Zukunft für Banken und Aufsichtsbehörden
Die Wirkung von Nachhaltigkeit in Banken – Management und Risikoperspektive Aufgrund neuer Forschungsergebnisse, aktueller Ereignisse und einer erhöhten Aufmerksamkeit der Medien ist das Bewusstsein für verschiedene Nachhaltigkeitsthemen gestiegen. Jüngste Daten des Weltwirtschaftsforums zeigen, dass die meisten Erwachsenen in der Welt die 2015 veröffentlichten Nachhaltigkeitsentwicklungsziele der Vereinten Nationen (UNO) kennen. Es existieren hier insgesamt 17 Ziele, […]
Sustainability – The Way Forward for Banks and Regulators
The Effect of Sustainability in Banks – Management and Risk Perspective Due to new research, recent events, and increased attention from the media, awareness of various sustainability topics has increased. Recent data from the World Economic Forum shows that most adults in the world are aware of the United Nations (UN) Sustainability Development Goals (SDGs) […]
Intelligent Workflows in Banking: Anti Money Laundering and Fraud Prevention
The vast potential to redesign workflows in the banking industry through innovative technologies such as Artificial Intelligence (AI), Big Data Analytics and Robotics Process Automation is well known. The critical question is, how this potential can be realized within the own organization. Here, we see two decisive approaches: The use of innovative technologies should always […]