Internal Controls in Banks
Internal controls are important in banking. Managers are obliged to protect the assets, reputation and the people in the business. This is very important to employees who are likely to feel protected from false accusations. A bank with sound internal controls promotes trust among employees. Excuses...
Common Mistakes that Bankers should Avoid
“Adventure is the life of commerce, but caution is the life of banking” …Walter Bagehot
Last week I looked at the “Tournier principles” in great detail. Today, I will share some basic mistakes that bankers make which breach the duty of confidentiality. These inadvertent...
“Ignoring technological change in a financial system based upon technology is like a mouse starving to death because someone moved their cheese”
– Chris Skinner
Digital banking and most often, mobile banking has created huge opportunities in terms of social inclusion and accessibility. This is furthermore important now, when the world...
"Know where to find the information and how to use it. That's the secret of success." - Albert Einstein
(This is a continuation of a series first published in July and August 2014)
Hello Readers, welcome back to the last but one article to conclude this series. Having taken you...
“Banking is necessary, Banks are Not.” ― Bill Gates
As a regular facilitator of training programs, I regularly encounter bankers who have no inclination of the effect that the fourth revolution is having on their jobs. Sometimes I jokingly describe my perception of some of their routine daily activities, ” Debit, Credit,...
“Key account management requires mixing the hard facts with the soft stuff – crunching numbers AND taking the relationship’s pulse. Adjust the formula based on what key accounts want to stay satisfied”-Milind Katti, COO & Co-Founder, DemandFarm.
Dear Readers, for the past two weeks, I have been emphasizing on what...
“Your most unhappy customers are your greatest source of learning” ~ Bill Gates
The bank and customer relationship or the contract terminates by closure of the account at the request of either party. This can be by mutual agreement, or after a customer has transferred the balance on the account.
However, by...
“We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before.” – Klaus Schwab, Founder and Executive Chairman, World Economic Forum Geneva
The...
"Challenges are what makes life interesting. Overcoming them is what makes life meaningful" -- Joshua J. Marine
In this era of pandemics, all banks are reminding their customers to go digital. This is a very good advice to give, but how is this being implemented? Let us look at some feedback...
In my first articles of 2023, I promised to share great success stories of organisations who have built on their uniqueness to showcase their brand. I started with Opportunity International Savings and Loans whose uniqueness in the microfinance sector has benefitted from 39 awards within four years.
Today I will...