Fintech PR
FT Survey: 78% say UK banks have “surprised themselves” with their adaptability during COVID-19
Appian (NASDAQ: APPN) today published survey results examining the response of the UK banking sector to the coronavirus pandemic, revealing that nearly three-quarters of respondents say their organization has become more innovative as a result.
The “Innovating in a Crisis: How COVID-19 Changed the Way UK Banks Deliver Core Operations” survey, conducted by FT Focus and supported by Appian, shows that banks are rising to new challenges. 78% of banks have “proven more agile than previously thought” and 72% “have grown more innovative in 2020” according to survey results.
Senior UK banking respondents cited “making sales and winning new business” (73%) as the biggest additional challenge posed by COVID-19, followed by “customer services” (72%), then “risk management and compliance processes” (71%). However, one bank’s challenge appears to be another’s opportunity. Showing that the competitive nature of the market remains despite the crisis, roughly equal proportions of respondents viewed the pandemic and Brexit as opportunities or threats to business. Emerging technologies represented the only factor where respondents achieved more of a consensus, with 57% viewing the use of automation, cloud, and AI as opportunities for growth.
On how banks are responding to COVID-19:
- Two-thirds (66%) are planning to cut costs
- 66% are expecting to increase their automation in response to COVID-19
- 60% are expecting to increase technology spending
In addition to increased remote working and online development, 82% have accelerated compliance and approvals processes, and 81% are using agile practices to increase the pace of new product or service delivery, suggesting that pre-COVID-19 processes are being sped up.
“COVID-19 has forced the banking industry to rapidly adapt to new challenges. The survey results prove that banks are able to be agile, innovate and implement new technologies when the market demands,” said Mike Heffner, VP, Solutions and Industry Go To Market at Appian. “Although cost cuts are on the horizon for a significant number of UK banks, finding new ways to stay efficient and deliver compliant, effective service has probably never been more of a priority.”
“We have never seen such transformation, such a drive for innovation, as we have witnessed in the last four or five months [to July 2020],” said Ritesh Jain, COO of Digital Technology at HSBC and an in-depth survey respondent.
To learn more about how UK banks have stayed agile under pressure, read the full “Innovating in a Crisis: How COVID-19 Changed the Way UK Banks Deliver Core Operations” survey report.
To unpack the survey findings, Appian is hosting a webinar chaired by renowned FinTech author Chris Skinner with Appian financial services thought-leaders, Mike Heffner and Guy Mettrick.
Monday 30 September 2020, 2pm BST
Banking Operations Innovating in a Crisis: Chris Skinner Explores Our Latest Financial Times (FT) Focus Report
The webinar will explore in greater depth how:
- 66% of UK banks responded to the crisis by increasing automation
- The crisis sparked greater adaptability and faster innovation cycles
- Long-planned initiatives have been expedited to increase efficiency and productivity
Methodology
The survey, conducted by FT Focus, gathered responses from 263 senior UK banking executives during July 2020. Respondents held roles at retail banks (43%), commercial banks (29%) or investment banks (29%). Just under half (49%) were in C-suite positions, including 27 CEOs. FT Focus also spoke in depth to Ritesh Jain, then COO of Digital Technology at HSBC, to understand in detail how banking leaders are navigating the challenges that emerged in the first half of 2020.
TIANJIN, China, Dec. 24, 2024 /PRNewswire/ — On December 7, 2024, AIMA Technology Group warmly invited a delegation of five top-performing U.S. IBD dealers to visit its headquarters. Accompanying the group was Angela Zheng, CEO of AIMA’s U.S. subsidiary, AIMA EBIKE, along with her sales, marketing, and customer service teams. This visit not only marked a deepened connection between AIMA and the mainstream U.S. market but also provided U.S. dealers with a valuable opportunity to witness AIMA Technology’s globally leading capabilities in research, development, and manufacturing of electric mobility solutions.
The delegation first toured AIMA’s state-of-the-art factory in Tianjin. Aima Technology possesses production factories with extremely high levels of intelligent manufacturing Additionally, AIMA has integrated advanced technologies such as AI visual recognition and established a CNAS-certified R&D laboratory, maintaining its industry leadership in intelligent transformation. During the tour, the dealers were deeply impressed by AIMA’s cutting-edge technology, large-scale production capabilities, and relentless pursuit of excellence in product development and manufacturing. They expressed that this rare visit not only enhanced their understanding of AIMA but also strengthened their confidence in promoting AIMA products as a symbol of outstanding performance and exceptional quality to their customers.
Furthermore, AIMA Technology’s R&D team engaged in in-depth discussions with the dealers regarding the new models AIMA EBIKE plans to launch in 2025. The dealers test-rode prototypes of the latest models and shared their innovative insights. They expressed high praise for AIMA’s product innovation capabilities and market acumen, recognizing these as key factors that distinguish AIMA in the industry.
Later, the dealers joined AIMA Technology’s team to witness the rollout of the 10,000th AIMA E-Bike. This milestone moment showcased AIMA’s exceptional manufacturing strength and market influence. The dealers were inspired and expressed strong confidence in the promising future of their partnership with AIMA.
This visit from the top-tier U.S. dealer delegation not only deepened mutual trust and friendship but also injected new momentum into AIMA’s ambition to become a leader in the U.S. E-Bike industry by focusing on the IBD channel. Looking ahead, AIMA Technology will continue to strive to provide market-leading performance and quality, enhancing its product development and manufacturing capabilities while working hand-in-hand with global dealers to create an even brighter future.
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View original content:https://www.prnewswire.co.uk/news-releases/aima-technology-welcomes-top-us-dealers-to-shape-the-future-together-302338745.html
HAMILTON, Bermuda, Dec. 19, 2024 /PRNewswire/ — FXGiants has recently launched a series of exciting bonuses. Participants on the FXGiants‘ online trading platform can now amplify their trading potential with a broad spectrum of bonuses that are tailored to fit different trading needs. These bonuses not only add extra value but also act as a safety net for traders to explore the financial markets without risking too much.
“Our goal with these deposit bonus options is to empower traders of all levels,” said Christopher Oates, the spokesperson for FXGiants. “Under this scheme, we have diverse categories, including Bonus Maximiser, Booster Bonus, and the Bonus Advantage. These bonuses are designed to provide flexibility to clients as they trade on the FXGiants online trading platform.”
Exploring the FXGiants Bonus Options
The bonus options at FXGiants come with versatile advantages. The Bonus Maximiser provides a full 100% boost on all deposits without limit, whereas the Booster Bonus offers a 40% bonus on all deposits up to $4,000 for traders who want to moderately enhance their capital. On the other hand, the Bonus Advantage provides a 60% bonus on deposits up to $5,000, giving traders a better handle on risk. These bonuses enhance the trading experience on the FXGiants online trading platform.
“At FXGiants, we are committed to a trading environment that meets the evolving needs of our clients,” Oates added. “Our online trading platform is a robust ecosystem designed to support traders with advanced execution, extensive market insights, and continuous improvements. As we move forward, we will keep expanding our offerings to ensure that traders have access to the best resources and support.”
About FXGiants
FXGiants stands out as an international broker providing access to over 300 financial instruments across 6 asset classes. Traders can operate through the popular MetaTrader 4 platform, and benefit from exceptional trading conditions such as competitive spreads, flexible leverage, and fast execution. With deposit boosters, partnership programs, an educational blog, and account types tailored to both novice and experienced traders, FXGiants remains dedicated to delivering a one-stop trading solution.
Terms & Conditions apply. Bonus cannot be withdrawn.
All trading involves risk. It is possible to lose all your capital.
FXGiants is a trade name of Notesco Int Limited; a company incorporated in Anguilla with registration number A000001800 and registered address The Valley, AI2640, Cosely Drive, 1338, AI.
Website: https://www.fxgiants.com/
View original content:https://www.prnewswire.co.uk/news-releases/fxgiants-online-trading-platform-launches-bonus-initiative-to-reward-traders-302338463.html
BEIJING, Dec. 23, 2024 /PRNewswire/ — Cheung Kong Graduate School of Business (CKGSB) successfully hosted the Western China MBA Professor Training Program in collaboration with the China National MBA Education Supervisory Committee and Shantou University School of Business on December 17 and 18, 2024. 58 professors from over 40 universities in China nationwide, mostly western China, attended this training.
Since 2007, CKGSB has been aspiring to address the pressing disparities in management education between eastern and western China with its MBA professor training program. As of 2024, the program has trained 372 professors from 155 universities across 22 provinces, 4 autonomous regions, 3 direct-administered municipality in China, indirectly impacting tens of thousands of MBA students.
This year, the training focused on social innovation and business for good, a topic many participating professors found lacking in their day-to-day teaching and research. Professor ZHU Rui (Juliet), CKGSB Professor of Marketing and Director of the ESG and Social Innovation Center, led the training. She introduced how CKGSB has been innovating with the integration of business for good in management education, and how our relevant practice-based course has already helped 2,800+ students integrate ESG into their businesses. Professor Zhu also hosted an interactive workshop with the training’s participants on how they may build this idea into their teaching.
Participants shared in their post-program survey that Professor Zhu’s teaching and her ESG Assessment map gave them a new perspective on how to balance profits and social responsibilities. Many also felt inspired on how to bridge the gap between research and practice.
Recognized in CKGSB’s 2022 and 2024 ESG and Social Innovation Reports and honored as a finalist for the 2021 China Social Impact Award by the United Nations and British Chamber of Commerce, this program exemplifies CKGSB’s impact in this critical area. Through partnerships with the government, NGOs, and business schools, this initiative has made significant progress in promoting quality education and reducing inequalities.
For more information on CKGSB’s ESG and social innovation efforts, visit our ESG and social innovation website.
About CKGSB
Established in Beijing in November 2002, CKGSB is China’s first privately-funded and research-driven business school. The school aims to cultivate transformative business leaders with a global vision, sense of social responsibility, innovative mindset, and ability to lead with empathy and compassion (https://english.ckgsb.edu.cn).
View original content:https://www.prnewswire.co.uk/news-releases/ckgsb-successfully-hosts-2024-mba-professor-training-program-for-western-china-302338458.html
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