The document discusses several key topics regarding the European banking sector over the last decade. It outlines how the sector has consolidated significantly through mergers and acquisitions, leading to fewer but larger banks and increased concentration. It also examines developments in areas like retail banking, private banking, investment banking, and the effects of technological advances. Regulatory changes in Europe, like deregulation and the single market for financial services, contributed to the restructuring and changes within the European banking industry.
The document summarizes key findings from the World Payments Report 2011. It finds that global non-cash payments continued growing in 2009-2010, though at a slower rate during the economic crisis. Cards remain the most widely used non-cash instrument globally, while check usage is declining. Regulatory initiatives and industry standards are driving changes in the payments industry landscape around reducing systemic risk, increasing transparency, and standardizing processes. Emerging technologies also allow for specialization and innovation through tools like mobile payments.
The document summarizes key findings from the World Payments Report 2011. It finds that global non-cash payments continued growing in 2009-2010, though at a slower rate during the economic crisis. Cards remain the most widely used non-cash instrument globally, while check usage is declining. Regulatory initiatives and industry standards are driving changes in the payments industry landscape around reducing systemic risk, increasing transparency, and standardizing processes. Emerging technologies also allow for specialization and innovation through tools like mobile payments.
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...Shkumbin Gërguri
Commercial banks are intermediators of the interaction between business entities and other economic, legal and social agents. Today, banks do not have the approach towards the classic model, whose function was only to offer classic services of deposits and loans,; with evolution of global trends and technology banks have created nowadays a modern system of operating that applies techniques and methods that are the trend of globalization.
This document summarizes a research project analyzing the correlation between market power and profitability of banks in Bulgaria from 2004-2014. It finds that during the crisis, profitability was replaced by market power as the main determinant of bank strategy. Only the top two banks were able to sustain absolute profit levels, contributing 63-71% of total industry profits from 2012-2014. The crisis highlighted formation of a Bulgarian economic and banking elite, as local managers understood political and economic stories and adjusted policies accordingly. The research concludes that high market concentration allows banks to make profits by setting higher prices, and that political will and judicial quality are important for minimizing corporate crime effects on the economy.
Crowdfundingfinance Study Europe 2015 - Universe of CambridgeArboribus
The European alternative finance market grew substantially in 2015, increasing 92% to €5,431m. Excluding the UK, the market grew 72% to €1,019m. Peer-to-peer consumer lending is the largest segment while invoice trading grew the fastest. Online alternative business funding increased 167% to €536m, with debt and equity crowdfunding both experiencing strong growth. Institutional investment in alternative finance also increased significantly across Europe in 2015. The report provides insights into the size, growth, models and developments in the European alternative finance industry.
The global volume of non-cash payments continued growing in 2010 and 2011, with developing markets seeing the fastest growth. Cards remain the largest payment method globally, and their use is increasing for smaller purchases. While developed markets still account for most payments volumes, developing economies like Brazil, China, and Russia are among the top ten markets and seeing volumes jump over 30% annually. Electronic and mobile payments are also growing rapidly and central banks need better data on these emerging channels.
The document summarizes key findings from the World Payments Report 2011. It finds that global non-cash payments continued growing in 2009-2010, though at a slower rate during the economic crisis. Cards remain the most widely used non-cash instrument globally, while check usage is declining. Regulatory initiatives and industry standards are driving changes in the payments industry landscape around reducing systemic risk, increasing transparency, and standardizing processes. Emerging technologies also allow for specialization and innovation through tools like mobile payments.
The document summarizes key findings from the World Payments Report 2011. It finds that global non-cash payments continued growing in 2009-2010, though at a slower rate during the economic crisis. Cards remain the most widely used non-cash instrument globally, while check usage is declining. Regulatory initiatives and industry standards are driving changes in the payments industry landscape around reducing systemic risk, increasing transparency, and standardizing processes. Emerging technologies also allow for specialization and innovation through tools like mobile payments.
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...Shkumbin Gërguri
Commercial banks are intermediators of the interaction between business entities and other economic, legal and social agents. Today, banks do not have the approach towards the classic model, whose function was only to offer classic services of deposits and loans,; with evolution of global trends and technology banks have created nowadays a modern system of operating that applies techniques and methods that are the trend of globalization.
This document summarizes a research project analyzing the correlation between market power and profitability of banks in Bulgaria from 2004-2014. It finds that during the crisis, profitability was replaced by market power as the main determinant of bank strategy. Only the top two banks were able to sustain absolute profit levels, contributing 63-71% of total industry profits from 2012-2014. The crisis highlighted formation of a Bulgarian economic and banking elite, as local managers understood political and economic stories and adjusted policies accordingly. The research concludes that high market concentration allows banks to make profits by setting higher prices, and that political will and judicial quality are important for minimizing corporate crime effects on the economy.
Crowdfundingfinance Study Europe 2015 - Universe of CambridgeArboribus
The European alternative finance market grew substantially in 2015, increasing 92% to €5,431m. Excluding the UK, the market grew 72% to €1,019m. Peer-to-peer consumer lending is the largest segment while invoice trading grew the fastest. Online alternative business funding increased 167% to €536m, with debt and equity crowdfunding both experiencing strong growth. Institutional investment in alternative finance also increased significantly across Europe in 2015. The report provides insights into the size, growth, models and developments in the European alternative finance industry.
The global volume of non-cash payments continued growing in 2010 and 2011, with developing markets seeing the fastest growth. Cards remain the largest payment method globally, and their use is increasing for smaller purchases. While developed markets still account for most payments volumes, developing economies like Brazil, China, and Russia are among the top ten markets and seeing volumes jump over 30% annually. Electronic and mobile payments are also growing rapidly and central banks need better data on these emerging channels.
US Access to China's Consumer Markets- Logistics & ECommerce ModelsDr Dev Kambhampati
This document summarizes Cathy Morrow Roberson's testimony on China's logistics and e-commerce markets before the US-China Economic and Security Review Commission. It discusses how China has transformed from an export-dependent economy to a more balanced one, focusing on infrastructure developments, the growth of e-commerce giants like Alibaba and JD.com, and recommendations for US companies. Key points covered include China's investments in ports, airports, roads, and rail; the One Belt, One Road initiative; components of China's supply chain; and trends in warehousing to support domestic consumption and e-commerce.
The global financial stock grew by $11 trillion in 2010 to $212 trillion total, surpassing pre-crisis levels. Nearly half of the growth came from a $6 trillion increase in global stock market capitalization. Global credit markets also grew by $5.5 trillion to $158 trillion total, with most growth coming from a $4.4 trillion increase in government debt as budget deficits rose in many countries. Bank lending grew by $2.6 trillion while bond issuance by corporations and financial institutions was mixed.
All Eyes on Asset Quality Microfinance Global Valuation Survey 2010Dr Lendy Spires
This document summarizes key findings from a report on microfinance equity valuations in 2010. It finds that while microfinance institutions experienced rising delinquencies and falling profits during the economic downturn, most remained stable with solid reserve and capital levels. Despite challenges, microfinance equity valuations globally continued to rise in 2009, with the median private transaction valuation at 2.1x book value. The outlook for 2010 is assessed as generally positive, with continued client reach growth and interest from public and commercial investors, though at a slower pace with improved risk management.
US Access to China's Consumer Markets- Ecommerce, Logistics & Financial ServicesDr Dev Kambhampati
Christine Bliss of the Coalition of Services Industries testified before the U.S.-China Economic and Security Review Commission about significant barriers that remain for U.S. financial services companies seeking to access China's consumer market. While U.S. services exports to China have grown in recent years, China maintains restrictions such as equity caps and data localization requirements that limit U.S. competitiveness. Bilateral engagement through forums like the Comprehensive Economic Dialogue provide an opportunity to address these issues, but China must make tangible commitments to reduce market access barriers for U.S. financial services.
Post offices have the potential to significantly increase financial inclusion given their widespread networks, especially in rural areas. However, little was known about the types of clients that post offices reach compared to traditional financial institutions like banks. This study uses new individual-level account ownership data from 60 countries to analyze patterns. The results suggest that post offices are relatively more likely than traditional financial institutions to provide accounts to financially vulnerable groups like the poor, less educated, and unemployed. The study also finds that larger postal networks and partnerships between post offices and other financial institutions are associated with higher overall financial inclusion rates.
Corporate debt in emerging markets quadrupled between 2004-2014, rising to over $18 trillion. The composition of debt has shifted from loans to bonds. While greater leverage can boost growth, rapidly rising debt raises financial stability concerns. This chapter examines the factors driving emerging market leverage growth over the past decade using large databases. It finds that global factors like accommodative monetary policy in advanced economies have played a larger role than country or firm specific factors. Leverage has increased most in cyclical sectors like construction and has been associated with rising foreign currency exposure. Despite weaker balance sheets, emerging market firms have issued bonds at better terms by taking advantage of favorable global conditions. Policy recommendations include monitoring vulnerable firms and sectors closely, improving corporate debt
US Access to China's Consumer Markets- Digital FinanceDr Dev Kambhampati
Mr. Wang, a craftsman in Shanghai, has embraced digital finance by selling his wire bicycle models online through Taobao and Tmall in addition to his sidewalk stand. This has dramatically increased his sales from 10 per day to 30-40 per day. When the author wants to buy a model from Mr. Wang, he pays using Alipay or WeChat Pay by scanning a QR code, showing how digital payments have become widespread in China. China has experienced a large shift from cash to digital payments, driven by the growth of digital payment platforms like Alipay and WeChat Pay as well as increased smartphone and internet usage.
Las nuevas tecnologías digitales están cambiando la propuesta de valor de los productos y servicios financieros existentes. Mientras los de siempre asimilan las ideas innovadoras, las start-ups irrumpen en el sector.
The survey found that alternative finance continues to be an important component of corporate funding in Europe, making up 30% of corporate funding on average across the countries surveyed. While bank lending and capital markets activity increased in 2015, alternative finance maintained its market share. There was significant variation between countries, with France seeing strong growth in alternative finance and the UK and Italy seeing declines. Corporates and investors showed no strong preference for loans over bonds or direct funding over intermediated funding. Both groups were agnostic to funding form, indicating potential for standardization to further develop the market. National borders remained significant for alternative finance providers' locations, though cross-border activity was growing. A variety of organizations provided alternative funding, with some country-level differences
Allen & Overy Report - Funding European business: Harnessing alternatives | N...Rafal Wasyluk
Zgodnie z wynikami badań opublikowanych przez międzynarodową kancelarię prawną Allen & Overy europejskie spółki z rosnącym zainteresowaniem korzystają z alternatywnego finansowania – z tego źródła pochodzi już ok. jedna trzecia (30%) pozyskanych przez nie środków. Rynek jest jednak nadal podzielony i w dużej mierze krajowy. W związku z tym cała branża musi podjąć starania w celu stworzenia standardu umożliwiającego wykorzystanie niejednorodnych źródeł kapitału zlokalizowanych na całym europejskim kontynencie.
The document discusses the need for a Capital Markets Union (CMU) in the EU to overcome financial challenges by breaking down cross-border investment barriers. It notes that EU financial markets are underdeveloped compared to other economies, limiting business financing options. It recommends the Council welcome the European Commission's CMU initiative to unlock financing for EU businesses and boost growth. Specifically, it recommends prioritizing 3 of the 6 proposed CMU action items in the short-term, focusing on both economic and social responsibility, and considering recommendations like lowering capital market access barriers and developing private placement markets.
Revista PM Network - junho de 2012.
Artigo Talking Points, Risk by Denene Brox na qual nosso consultor Fábio Pitorri foi citado por ter desenvolvido um plano de gerenciamento de riscos voltado para executivos.
Presentation from the Payforit 4 seminar's held at the Connected Summit, May 15th-16th 2012.
Presentation given by Chris Newell (ImpulsePay, AIME), Rory Maguire (Three, AIME), Richard Smith (O2), Sharan Rattan (Everything Everywhere), Kate Sharples (Vodafone) and Jeremy Stafford-Smith (Vodafone).
LARIS Property - Terobosan baru dunia PROPERTY dan NETWORK MARKETING: dimana "Perusahaan MENGIKAT Mitra (MEMBER) Secara SYSTEM". Dengan System ini Bobot Pencapaian mitra semakin Ringan dan Bonus Cash Langsung ke Rekening.
www.LarisIndonesia.com
www.LarisIndonesia.com
www.LarisIndonesia.com
Substance abuse counselors help individuals overcome addiction through group work, one-on-one counseling, goal-setting, and education about addiction. They work in hospitals, family services, substance abuse centers, private centers, schools, and other settings. Education requirements range from a high school diploma to a master's degree in counseling, and licensure is usually required. The median annual salary is $38,120, and the field is expected to grow 27% over the next decade.
This document lists various fruits, vegetables, fish and animals in Spanish and Catalan along with their English translations. It includes fruits like apricot, persimmon and cherry, vegetables such as carrot, tomato and potato, fish including sardines, tuna, hake and mackerel, and animals like pig, rabbit, chicken and sheep.
The document provides observations and recommendations from visits to several retail stores in Copenhagen, Denmark. It notes that Eplehuset is the main Apple dealer in Copenhagen. It describes the ESPRIT store as having a nice facade but messy interior organization and lack of engagement from staff. The FONA store tries to offer too many product categories and has a visible security guard. Bolia looks messy and does not have a clear target customer. IKEA is known globally but can be tiring to shop in due to its warehouse layout. Maxi ZOO is clean but clinical in appearance for a pet store. Overall, the document suggests the stores could improve customer experience and sales through better marketing, organized layouts, engaged staff, and
This document discusses optimizing Payforit transactions on mobile websites. It notes that using mobile transactions (MT) leads to faster average time on the first page (34 seconds) than mobile optimized (MO) transactions (82 seconds). The document also recommends analyzing site usage through logging to improve latency, dwell time, and drop off points. A case study highlights how Spareroom.co.uk uses Payforit to boost listings and view landlord details early with a freemium model.
This document discusses several topics related to the European banking sector over the last decade. It describes how the sector has experienced consolidation through mergers and acquisitions, leading to fewer but larger banks and increased concentration. It also addresses developments in retail banking, private banking, investment banking, and the impact of technological advances. Performance in the sector is discussed in relation to efficiency gains from adopting new technologies, though their impact on productivity has been debated.
Isas _Q3 _Soft_Topic3_enterprise_application_architectureTuấn Anh Nguyễn
This document discusses an enterprise application architecture using the Microsoft .NET Framework. It outlines important characteristics of enterprise applications like availability, security, and scalability. It describes how SQL Server and .NET Framework can store and access application data. The document also includes diagrams of example enterprise application architectures showing layers like the presentation layer, integration layer, and delivery layer. It discusses how .NET Framework can be used to build different types of applications like web applications, web services, and smart clients.
US Access to China's Consumer Markets- Logistics & ECommerce ModelsDr Dev Kambhampati
This document summarizes Cathy Morrow Roberson's testimony on China's logistics and e-commerce markets before the US-China Economic and Security Review Commission. It discusses how China has transformed from an export-dependent economy to a more balanced one, focusing on infrastructure developments, the growth of e-commerce giants like Alibaba and JD.com, and recommendations for US companies. Key points covered include China's investments in ports, airports, roads, and rail; the One Belt, One Road initiative; components of China's supply chain; and trends in warehousing to support domestic consumption and e-commerce.
The global financial stock grew by $11 trillion in 2010 to $212 trillion total, surpassing pre-crisis levels. Nearly half of the growth came from a $6 trillion increase in global stock market capitalization. Global credit markets also grew by $5.5 trillion to $158 trillion total, with most growth coming from a $4.4 trillion increase in government debt as budget deficits rose in many countries. Bank lending grew by $2.6 trillion while bond issuance by corporations and financial institutions was mixed.
All Eyes on Asset Quality Microfinance Global Valuation Survey 2010Dr Lendy Spires
This document summarizes key findings from a report on microfinance equity valuations in 2010. It finds that while microfinance institutions experienced rising delinquencies and falling profits during the economic downturn, most remained stable with solid reserve and capital levels. Despite challenges, microfinance equity valuations globally continued to rise in 2009, with the median private transaction valuation at 2.1x book value. The outlook for 2010 is assessed as generally positive, with continued client reach growth and interest from public and commercial investors, though at a slower pace with improved risk management.
US Access to China's Consumer Markets- Ecommerce, Logistics & Financial ServicesDr Dev Kambhampati
Christine Bliss of the Coalition of Services Industries testified before the U.S.-China Economic and Security Review Commission about significant barriers that remain for U.S. financial services companies seeking to access China's consumer market. While U.S. services exports to China have grown in recent years, China maintains restrictions such as equity caps and data localization requirements that limit U.S. competitiveness. Bilateral engagement through forums like the Comprehensive Economic Dialogue provide an opportunity to address these issues, but China must make tangible commitments to reduce market access barriers for U.S. financial services.
Post offices have the potential to significantly increase financial inclusion given their widespread networks, especially in rural areas. However, little was known about the types of clients that post offices reach compared to traditional financial institutions like banks. This study uses new individual-level account ownership data from 60 countries to analyze patterns. The results suggest that post offices are relatively more likely than traditional financial institutions to provide accounts to financially vulnerable groups like the poor, less educated, and unemployed. The study also finds that larger postal networks and partnerships between post offices and other financial institutions are associated with higher overall financial inclusion rates.
Corporate debt in emerging markets quadrupled between 2004-2014, rising to over $18 trillion. The composition of debt has shifted from loans to bonds. While greater leverage can boost growth, rapidly rising debt raises financial stability concerns. This chapter examines the factors driving emerging market leverage growth over the past decade using large databases. It finds that global factors like accommodative monetary policy in advanced economies have played a larger role than country or firm specific factors. Leverage has increased most in cyclical sectors like construction and has been associated with rising foreign currency exposure. Despite weaker balance sheets, emerging market firms have issued bonds at better terms by taking advantage of favorable global conditions. Policy recommendations include monitoring vulnerable firms and sectors closely, improving corporate debt
US Access to China's Consumer Markets- Digital FinanceDr Dev Kambhampati
Mr. Wang, a craftsman in Shanghai, has embraced digital finance by selling his wire bicycle models online through Taobao and Tmall in addition to his sidewalk stand. This has dramatically increased his sales from 10 per day to 30-40 per day. When the author wants to buy a model from Mr. Wang, he pays using Alipay or WeChat Pay by scanning a QR code, showing how digital payments have become widespread in China. China has experienced a large shift from cash to digital payments, driven by the growth of digital payment platforms like Alipay and WeChat Pay as well as increased smartphone and internet usage.
Las nuevas tecnologías digitales están cambiando la propuesta de valor de los productos y servicios financieros existentes. Mientras los de siempre asimilan las ideas innovadoras, las start-ups irrumpen en el sector.
The survey found that alternative finance continues to be an important component of corporate funding in Europe, making up 30% of corporate funding on average across the countries surveyed. While bank lending and capital markets activity increased in 2015, alternative finance maintained its market share. There was significant variation between countries, with France seeing strong growth in alternative finance and the UK and Italy seeing declines. Corporates and investors showed no strong preference for loans over bonds or direct funding over intermediated funding. Both groups were agnostic to funding form, indicating potential for standardization to further develop the market. National borders remained significant for alternative finance providers' locations, though cross-border activity was growing. A variety of organizations provided alternative funding, with some country-level differences
Allen & Overy Report - Funding European business: Harnessing alternatives | N...Rafal Wasyluk
Zgodnie z wynikami badań opublikowanych przez międzynarodową kancelarię prawną Allen & Overy europejskie spółki z rosnącym zainteresowaniem korzystają z alternatywnego finansowania – z tego źródła pochodzi już ok. jedna trzecia (30%) pozyskanych przez nie środków. Rynek jest jednak nadal podzielony i w dużej mierze krajowy. W związku z tym cała branża musi podjąć starania w celu stworzenia standardu umożliwiającego wykorzystanie niejednorodnych źródeł kapitału zlokalizowanych na całym europejskim kontynencie.
The document discusses the need for a Capital Markets Union (CMU) in the EU to overcome financial challenges by breaking down cross-border investment barriers. It notes that EU financial markets are underdeveloped compared to other economies, limiting business financing options. It recommends the Council welcome the European Commission's CMU initiative to unlock financing for EU businesses and boost growth. Specifically, it recommends prioritizing 3 of the 6 proposed CMU action items in the short-term, focusing on both economic and social responsibility, and considering recommendations like lowering capital market access barriers and developing private placement markets.
Revista PM Network - junho de 2012.
Artigo Talking Points, Risk by Denene Brox na qual nosso consultor Fábio Pitorri foi citado por ter desenvolvido um plano de gerenciamento de riscos voltado para executivos.
Presentation from the Payforit 4 seminar's held at the Connected Summit, May 15th-16th 2012.
Presentation given by Chris Newell (ImpulsePay, AIME), Rory Maguire (Three, AIME), Richard Smith (O2), Sharan Rattan (Everything Everywhere), Kate Sharples (Vodafone) and Jeremy Stafford-Smith (Vodafone).
LARIS Property - Terobosan baru dunia PROPERTY dan NETWORK MARKETING: dimana "Perusahaan MENGIKAT Mitra (MEMBER) Secara SYSTEM". Dengan System ini Bobot Pencapaian mitra semakin Ringan dan Bonus Cash Langsung ke Rekening.
www.LarisIndonesia.com
www.LarisIndonesia.com
www.LarisIndonesia.com
Substance abuse counselors help individuals overcome addiction through group work, one-on-one counseling, goal-setting, and education about addiction. They work in hospitals, family services, substance abuse centers, private centers, schools, and other settings. Education requirements range from a high school diploma to a master's degree in counseling, and licensure is usually required. The median annual salary is $38,120, and the field is expected to grow 27% over the next decade.
This document lists various fruits, vegetables, fish and animals in Spanish and Catalan along with their English translations. It includes fruits like apricot, persimmon and cherry, vegetables such as carrot, tomato and potato, fish including sardines, tuna, hake and mackerel, and animals like pig, rabbit, chicken and sheep.
The document provides observations and recommendations from visits to several retail stores in Copenhagen, Denmark. It notes that Eplehuset is the main Apple dealer in Copenhagen. It describes the ESPRIT store as having a nice facade but messy interior organization and lack of engagement from staff. The FONA store tries to offer too many product categories and has a visible security guard. Bolia looks messy and does not have a clear target customer. IKEA is known globally but can be tiring to shop in due to its warehouse layout. Maxi ZOO is clean but clinical in appearance for a pet store. Overall, the document suggests the stores could improve customer experience and sales through better marketing, organized layouts, engaged staff, and
This document discusses optimizing Payforit transactions on mobile websites. It notes that using mobile transactions (MT) leads to faster average time on the first page (34 seconds) than mobile optimized (MO) transactions (82 seconds). The document also recommends analyzing site usage through logging to improve latency, dwell time, and drop off points. A case study highlights how Spareroom.co.uk uses Payforit to boost listings and view landlord details early with a freemium model.
This document discusses several topics related to the European banking sector over the last decade. It describes how the sector has experienced consolidation through mergers and acquisitions, leading to fewer but larger banks and increased concentration. It also addresses developments in retail banking, private banking, investment banking, and the impact of technological advances. Performance in the sector is discussed in relation to efficiency gains from adopting new technologies, though their impact on productivity has been debated.
Isas _Q3 _Soft_Topic3_enterprise_application_architectureTuấn Anh Nguyễn
This document discusses an enterprise application architecture using the Microsoft .NET Framework. It outlines important characteristics of enterprise applications like availability, security, and scalability. It describes how SQL Server and .NET Framework can store and access application data. The document also includes diagrams of example enterprise application architectures showing layers like the presentation layer, integration layer, and delivery layer. It discusses how .NET Framework can be used to build different types of applications like web applications, web services, and smart clients.
Prezentacja dr. Pawła Kuczyńskiego podczas III spotkania w ramach cyklu Kultura i Rozwój - Kultura Przyszłości, które odbyło się 16 kwietnia 2012 na kampusie Uniwersytetu Ekonomicznego w Krakowie.
___
Protesty przeciwko porozumieniu ACTA zaskoczyły wszystkich: polityków, media, badaczy i samych uczestników. Nikt nie przypuszczał, że międzynarodowa umowa handlowa wywoła masowe niezadowolenie i stanie się pretekstem dla ulicznych manifestacji gromadzących tysiące ludzi w dziesiątkach polskich miast.
Kim są ludzie, którzy protestowali ukryci za maskami Guya Fawkesa? Badania prowadzone przez socjologów z Zespołu Analizy Ruchów Społecznych dostarczają odpowiedzi na wiele pytań. Co jednak oznacza ta wiedza? Czy mobilizacja społeczna przeciwko ACTA była tylko jednorazowym pospolitym ruszeniem, czy też zapowiedzią głębszych zmian w polskiej sferze publicznej?
Program seminarium:
1. Prezentacja wyników badań ZARS - Paweł Kuczyński, Zespół Analizy Ruchów Społecznych;
2. Komentarz actawisty – Bartłomiej „Świstak” Piotrowski, jeden z założycieli ruchu Nie dla ACTA Kraków;
3. Komentarz aktywnego obserwatora – prof. Jerzy Hausner, Uniwersytet Ekonomiczny w Krakowie;
4. Dyskusja.
Spotkanie i dyskusję poprowadził Edwin Bendyk, Collegium Civitas, tygodnik "Polityka".
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise boosts blood flow and levels of neurotransmitters and endorphins which elevate and stabilize mood.
Norman argues that adequate food is a basic moral right for all people. He states that food is the first essential component of social justice. Oppor(food)ity is an organization that utilizes American restaurants and operates on a one-for-one model, requesting 5% of earnings from each meal purchased. The funds are used to teach sustainable farming practices in developing countries like Ethiopia, Niger, and Sudan to address issues of food insecurity and expand opportunities. Oppor(food)ity is offering a partnership that will generate volunteers and provide $150,000 and environmental experts in exchange for 30% of the organization.
This document discusses music and leadership. It mentions good music and laughter, as well as some unclear terms that seem to be nonsense letters and words. The document provides little coherent information to summarize.
First presented at the Manchester WordPress User Group on 16th May 2012.
Outlines what a workflow is, why it's important to have one, explains what mine is. Actual presentation had a live demo.
Payforit is a mobile billing system that allows consumers to charge purchases to their phone bill. The presentation discusses version 4 of Payforit, which introduces new features like single click payments and embeddable payment buttons. It also covers regulatory issues and case studies of companies using Payforit, such as a flatsharing site and a train WiFi provider, both of which saw increased sales and repeat purchases by offering Payforit as a payment option.
Colombia and the United States are discussing the benefits and disadvantages of a free trade agreement. While increased trade could benefit both economies, it is important to ensure the agreement respects environmental protections and does not allow the exploitation of natural resources. Certain goods like firearms, pornography, live animals, and counterfeit items would be prohibited from import between the two countries under the agreement.
The document summarizes a data warehouse project. It includes the coordinator, group members, quarter, and technologies used in data warehousing like Microsoft, Oracle, IBM and SAP. It defines what a data warehouse is and its components. Key terms used in data warehousing are also defined, including subject oriented, integrated, nonvolatile and time-variant. Principles of building, managing and delivering a data warehouse are discussed. The document also summarizes Microsoft SQL Server 2005 and its capabilities for data warehousing like manageability, scalability and interactive data access. It discusses how Microsoft is working to reduce complexity and costs associated with data storage.
The document summarizes key dynamics shaping the banking industry in a post-crisis environment. It discusses five dynamics banks must understand: changing regulatory frameworks and risk cultures, the digital and data revolution, shifting client behaviors, new competitors, and a multispeed world. It then outlines a seven-point tool kit for banks to adapt, including enabling the CEO as an investor, simplifying all dimensions of the bank, reinventing the client experience, ensuring built-in compliance and risk management, embracing data centricity, driving digital transformation, and adapting preemptively.
The Blockchain Alternative. We explored some of the opportunities that Blockchain holds for investment banks and the design of institutions: from smart contracts to decentralised autonomous organisations!
What impact will the Blockchain have on investment banking in terms of the design of an institution? Let's say that we get the world to allow the Blockchain to evolve the way the paper proposes. Then what? How will this affect the way investment banks will be designed and how will they function if it is based on a Blockchain architecture?
Research_Papers10.1.1.390.9459.pdfAssociation for Informamyrljjcpoarch
Research_Papers/10.1.1.390.9459.pdf
Association for Information Systems
AIS Electronic Library (AISeL)
ICIS 2007 Proceedings International Conference on Information Systems(ICIS)
12-31-2007
Does IT Payoff? Strategies of Two Banking Giants
Ali Farhoomand
University of Hong Kong
Minyi Huang
University of Hong Kong
This material is brought to you by the International Conference on Information Systems (ICIS) at AIS Electronic Library (AISeL). It has been
accepted for inclusion in ICIS 2007 Proceedings by an authorized administrator of AIS Electronic Library (AISeL). For more information, please
contact [email protected]
Recommended Citation
Farhoomand, Ali and Huang, Minyi, "Does IT Payoff? Strategies of Two Banking Giants" (2007). ICIS 2007 Proceedings. Paper 3.
http://aisel.aisnet.org/icis2007/3
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Twenty Eighth International Conference on Information Systems, Montreal 2007 1
DOES IT PAYOFF?
STRATEGIES OF TWO BANKING GIANTS
Ali Farhoomand
School of Business
University of Hong Kong
Hong Kong
[email protected]
Minyi Huang
Asia Case Research Centre
University of Hong Kong
Hong Kong
[email protected]
Abstract
Banks have long been among the most intensive users of information technology (IT).
Globalization has further accentuated banks’ reliance on IT, leading to further increase in their IT
investment. It is not all that clear, however, whether these investments pay off. This case presents
the complexities involved in measuring IT investment by comparing and contrasting the IT
strategies of two of the world’s largest banks: HSBC and Citigroup. Will the IT investment
strategies adopted by HSBC and Citigroup enhance their operational efficiency or strategic
positions? Which of the two banks will have higher returns on their IT investments in the long
run? How should they measure such returns?
Keywords: banking, IT evaluation, IT alignment, IS investment
IS Education and Teaching Cases
2 Twenty Eighth International Conference on Information Systems, Montreal 2007
Introduction
You can see the computer age everywhere but in productivity statistics.
- Robert Solow (1987)
In the previous 20 years, there had been a debate concerning whether or not IT paid off in the long run. While some
questioned the positive contribution of IT to productivity, others attributed the so-called IT paradox to measurement
methodology and to the lack of measurable data, such as increased quality, variety, customer service, speed and
responsiveness. To make matters worse, a controversial article published in Harvard Business Review argued that,
as IT was being commoditized, the opportunities of gaining IT-based competitive advantages were rapidly
disappearing (Carr, 2003). If this was true, then companies should spend less, wait longer to invest in more matured
technologies and sh ...
Research_Papers10.1.1.390.9459.pdfAssociation for Informa.docxbrittneyj3
Research_Papers/10.1.1.390.9459.pdf
Association for Information Systems
AIS Electronic Library (AISeL)
ICIS 2007 Proceedings International Conference on Information Systems(ICIS)
12-31-2007
Does IT Payoff? Strategies of Two Banking Giants
Ali Farhoomand
University of Hong Kong
Minyi Huang
University of Hong Kong
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contact [email protected]
Recommended Citation
Farhoomand, Ali and Huang, Minyi, "Does IT Payoff? Strategies of Two Banking Giants" (2007). ICIS 2007 Proceedings. Paper 3.
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Twenty Eighth International Conference on Information Systems, Montreal 2007 1
DOES IT PAYOFF?
STRATEGIES OF TWO BANKING GIANTS
Ali Farhoomand
School of Business
University of Hong Kong
Hong Kong
[email protected]
Minyi Huang
Asia Case Research Centre
University of Hong Kong
Hong Kong
[email protected]
Abstract
Banks have long been among the most intensive users of information technology (IT).
Globalization has further accentuated banks’ reliance on IT, leading to further increase in their IT
investment. It is not all that clear, however, whether these investments pay off. This case presents
the complexities involved in measuring IT investment by comparing and contrasting the IT
strategies of two of the world’s largest banks: HSBC and Citigroup. Will the IT investment
strategies adopted by HSBC and Citigroup enhance their operational efficiency or strategic
positions? Which of the two banks will have higher returns on their IT investments in the long
run? How should they measure such returns?
Keywords: banking, IT evaluation, IT alignment, IS investment
IS Education and Teaching Cases
2 Twenty Eighth International Conference on Information Systems, Montreal 2007
Introduction
You can see the computer age everywhere but in productivity statistics.
- Robert Solow (1987)
In the previous 20 years, there had been a debate concerning whether or not IT paid off in the long run. While some
questioned the positive contribution of IT to productivity, others attributed the so-called IT paradox to measurement
methodology and to the lack of measurable data, such as increased quality, variety, customer service, speed and
responsiveness. To make matters worse, a controversial article published in Harvard Business Review argued that,
as IT was being commoditized, the opportunities of gaining IT-based competitive advantages were rapidly
disappearing (Carr, 2003). If this was true, then companies should spend less, wait longer to invest in more matured
technologies and sh.
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1. EUROPEAN BANKING
Structural Features And The Consolidation Trend
Deregulation And The Regulatory Environment
Developments In Retailer Financial Services
Private Banking
Corporate And Investment Banking
Technological Developments Affecting European
Banks
Performance In European Banking
3. EUROPEAN BANKING
European banking markets have experienced market changes over
the last decade or so- the number of banks has fallen substantially as a
result of a merger and acquisitions (M&As) wave, and industry
concentration has increased.
7. STRUCTURAL FEATURES
AND THE CONSOLIDATION TREND
Market conditions have undergone extensive changes over recent
years.
8. STRUCTURAL FEATURES
AND THE CONSOLIDATION TREND
In addition, progress in technology, especially phone-based and internet
banking, has enabled financial firms to extend their activities beyond local or
national boundaries and to increase their market share by providing competitive
products to wider markets at a lower price.
9. NUMBER OF BANKS
Technological developments, deregulation at the EU level and the
introduction of the single market for financial services, have all played
their part in restructuring the features of European markets.
10. NUMBER OF BANKS
As Table 13.1 shows, a fall in the number of bankshas been a
shared tendency throughout Europe.
11. NUMBER OF BANKS
Another indicator of the changing features of the banking sector relates to
the distribution of bank branches
13. EMPLOYMENT IN THE BANKING SECTOR
Another factor that may be suggestive of the relative size of the
banking sector is the amount of employment in the banking industry as a
percentage of total employment.
14. M&AS ACTIVITY AND THE CONSOLIDATION TREND
Cross-border consolidation of financial institutions within Europe
has been relatively limited, possibly reflecting efficiency barriers to
operating across borders, including distance; differences in language,
culture, currency, and
15. BANKING SECTOR CONCENTRATION
What’s banking sector concentration got to do with Private
Equity market?
Whether increased concentration in the banking sector should
be welcomed or combated is far from clear. Many observers claim
that a lowered competition may have positive impacts on both the
solvency of individual banks.
16. BANKING SECTOR CONCENTRATION
The current financial crisis has already proven that structural
changes in the Banking sector are quickly carried over the private equity
markets. In particular, banks are no longer as readily willing to supply
debt for LBOs as it has been the case in the previous years.
17. BANKING SECTOR CONCENTRATION
In principle there are two channels through which banking
concentration could be transfered into the buyout market. Relationship
lending is the first channel.
18. BANKING SECTOR CONCENTRATION
The second channel for transferring banking sector changes into the buyout market
is the way how LBO-debt is arranged. In general banks syndicate the LBO financing,
that is, a consortium of usually large banks share the debt.
19. BANKING SECTOR CONCENTRATION
We analyze empirically how the degree of concentration/competition in
the Banking sector affects the structural achievements in the PE market..
We employ data from two sources. Market-level data are taken from the
database of the Centre for Management buyout and Private Equity Research .
20. DIVERSIFICATION
In finance, diversification means reducing risk by investing in a
variety of assets..
Diversification is one of two general techniques for reducing
investment risk. The other is hedging. Diversification relies on the lack
of a tight positive relationship among the assets' returns, and works
even when correlations are near zero or somewhat positive…
It is important to remember that diversification only works
because investment in each individual asset is reduced.
21. DEREGULATION AND THE REGULATORY
ENVIRONMENT
Single European Market For Financial Services
Efficient risk capital markets play a major role in
innovative high-growth SMEs and the creation of
new and sustainable jobs.
The benefits of a Single Market should accrue to all the
users of the market as well as to the European economy at
large.
22. FINANCIAL SERVICES ACTION PLAN
Three strategic objectives;
establishing a single market in wholesale financial services
making retail markets open and secure
strengthening the rules on prudential supervision.
24. DEVELOPMENTS IN RETAIL FINANCIAL SERVICES
The retail financial services industry has become an increasingly
important segment of european banking business.
25. PRIVATE BANKING
The global private banking business is worth around $20 trillion,
of which one third is held offshore assets under manegement have
grown around 6 per cent annually since the mind-1990 and the trend is
likely to continue at this rate to 2010.
26. PRIVATE BANK RANKINGS
THE TEN LARGEST GLOBAL PRİVATE
Rank 10 Company Rank 09 BANKS AS OF DECEMBER 31, 2010 ARE AS
1 JPMorgan 3 FOLLOWS (LISTED BY ASSETS)
2 Goldman Sachs 2 1.BANK OF AMERICA ($1.740 TRILLION)
3 UBS 1 2.UBS ($1.593 TRILLION)
3.MORGAN STANLEY ($1.508 TRILLION)
4 Credit Suisse 6 4.WELLS FARGO ($1.218 TRILLION)
5 HSBC 4 5.CREDIT SUISSE ($775 BILLION)
6.JP MORGAN ($636 BILLION)
6 Citigroup 5
7.ROYAL BANK OF CANADA ($379
7 Pictet 8 BILLION)
8.HSBC ($379 BILLION)
8 Deutsche Bank 7
9.DEUTSCHE BANK ($272 BILLION)
9 Rothschild 11 10.PICTED & CIE ($243 BILLION)
10 BNP Paribas 10
27. PERFORMANCE IN EUROPEAN BANKING
In recent years, the utilization of information technology has been
magnificently increased in service industries, particularly, the banking industry,
which by using Information Technology related products such as internet
banking, electronic payments, security investments, information exchanges
(Berger, 2003), financial organizations can deliver high quality services to client
with less effort.Whitten et al. (2004, .), stated that “information is an
arrangement of people, data, process, and information technology that interact
to collect, process, store and provide as output the information needed to
support an organization,” which indicates that information system is an
arrangements of groups, data, processes and technology that act together to
accumulate, process, store and provide information output needed to enhance
and speed up the process of decision making.
28. PERFORMANCE IN EUROPEAN BANKING
During last decade, high percentage of financial organizations are
frequently utilize computers technology to facilitate provides services;
and that the speed of adoption is expected to grow further as the
technology expands. The introduction of electronic indicates of data
accumulation, accessing and manipulation assisting the process of
banking decision making.In a Bank’s information system, there are
always potentials of crisis which make the bank endure an insufficiency;
thus, advanced information system supported by a superior mechanism
control is required to make certain that an information system has
achieved the required processes. Surprisingly, some literatures defense
the idea of Solow Paradox in concluding that Information Technology
may essentially affect negatively on banks efficiency and may reduce
productivity.
29. PERFORMANCE IN EUROPEAN BANKING
This notion was noted by Solow (1987), "you can see the computer
age everywhere these days, but in the productivity statistics". The
paradox has been defined by E. Turban, et al. (2008) as the “discrepancy
between measures of investment in information technology and
measures of output at the national level.” Since 1970s to the time Solow
was claiming that there was a huge decelerates in growth as the
technologies were becoming ubiquitous.In an article by Shu and
Strassmann (2005), a survey was conducted on 12 banks in the US for
the period of 1989-1997. They noticed that even though Information
Technology has been one of the most essential dynamic factors relating
all efforts, it cannot improve banks’ earnings. However, conversely,
there are many literatures approving the positive impacts of Information
Technology expenses to business value.
30. PERFORMANCE IN EUROPEAN BANKING
Kozak (2005) investigates the influence of the evolution in
Information Technology on the profit and cost effectiveness of the banking
zone during the period of 1992-2003. The study indicates optimistic
relationship among the executed Information Technology and together
productivity and cost savings. Brynjolfsson and Hitt (2000) indicates that
"Information Technology contribute significantly to firm level output."
They determine that Information Technology capital contributes an 81%
marginal increase in output, whereas non Information Technology capital
contributes 6%. Likewise they illustrate that Information System
professionals are more than twice as productive as non- Information System
professionals.Ordinarily, recent literatures showed that the relationship
concerning Information technology and banks’ performance have two
encouraging outcomes. Firstly, Information technology can bring down the
operational costs of the banks (the cost advantage).
31. PERFORMANCE IN EUROPEAN BANKING
For instance, internet technology facilitates and speeds up banks
procedures to accomplish standardized and low value-added transactions
such as bill payments and balance inquiries processes via online
network. Consequently, this technology will helps banks concentrating
their capitals on exceptional, highvalue added transactions such as
personal trust services and investment banking via branches. The second
encouraging outcome is that Information Technology can promote
transactions between customers within the same network (the network
effect) (Farrell and Saloner, 1985; Economides and Salop, 1992). In an
article by Saloner and Shepard (1995), data for United States
commercial banks for the period 1971-1979 was conducted and
illustrated that the interest of network effect is significant in utilizing an
Automated Teller Machines (ATMs). Milne 2006 also encourages the
notnotion of the above authors.The modernization of IT has set the stage
for extraordinary improve in banking procedures throughout the world.
For instance the development of worldwide networks has considerably
decreased the cost of global funds transfer.
32. PERFORMANCE IN EUROPEAN BANKING
The task of Information Technology in the community, restricted and
foreign sector banks is to evaluate and measure the observation of the Bank
Employees towards the Implementation of Information Technology in the Banks
also to assist the awareness and fulfillment of the clients with the banks.
Information Technology has been giving clarification to financial organization to
take care of their accounting and back office requirements. It also facilitates and
speeds up the automation of modern supply controls, such as Automated Teller
Machines, Net Banking, Mobile Banking and the akin to. Since organizational
performance cannot be shaped only by IS applications, other factors such as
business strategies and organizational culture should also be taken into
consideration while measuring the impact.The extent of utilizing banks of
information technology will be measured by the volume of investment in
equipment, and the volume of investment in the software and the use of Internet
Banking, Phone Internet, the number of ATM, the use of Cyber Branch and
Banking via SMS.
The collection of data on a sample study of Jordanian banks in all 15 of the
Banks over a period of five years from 2003-2007 will be collected. Since the
study sample is a group of banks which is the nature of scan data via a set of past
data, appropriate regression model to measure this relationship is the Pooled Data
Regression.
33. CORPORATE BANKING
Corporate finance is the field of finance dealing with
financial decisions that business enterprises make and the tools
and analysis used to make these decisions. The primary goal of
corporate finance is to maximize.
34. INVESTMENT BANKING
Investment banking is a field of bsnking that aids companies in
acquiring funds. In addition to the acquisition of new funds, investment
banking also offers advice for a wide range of transactions a company
might engage in.
Through investment banking, and institution generates funds in two
different ways. They may draw on public funds through the capital
market by selling stock in their company, and they may also seek out
venture capital or private equity in exchange for a stake in their
company.
35. TECHNOLOGICAL DEVELOPMENTS AFFECTING
EUROPEAN BANKS
Technological innovations have transformed most industrial
sectors, especially due to the evolution of information-based
technologies. In case of the banking industry, due to the role of
banks as information-based firms and their role in gathering and
analysing information.
36. TECHNOLOGICAL DEVELOPMENTS AFFECTING
EUROPEAN BANKS
Two main factors can be pinpointed as consequences of
technological innovation.
First, the production function in banking has become more capital-
intensive, given that the share of non-staff costs.
Second, diffusion of information technology is radically transforming
banking delivery channels.
37. TECHNOLOGICAL DEVELOPMENTS AFFECTING
EUROPEAN BANKS
These forces are universal and European banks are well
placed to take advantage to technological advances. Small
banks, however, are not well positioned to develop their own
innovation technology. This is a good thing. They can
choose to implement best-practice systems when they have
been tried and tested by their larger counter parts that have
deeper pockets for investing in research and development
and new innovative technologies.