Banking Books

Book SynopsisThe second volume of the history of the European Bank for Reconstruction and Development (EBRD) takes up the story of how the Bank has become an indispensable part of the international financial architecture. It tracks the rollercoaster ride during this period, including the Bank’s crucial coordinating role in response to global and regional crises, the calls for its presence as an investor in Turkey, the Middle East and North Africa and later Greece and Cyprus, as well as the consequences of conflicts within its original region. It shows how in face of the growing threat of global warming the EBRD, working mainly with the private sector, developed a sustainable energy business model to tackle climate change.Transforming Markets also examines how the EBRD broadened its investment criteria, arguing that transition towards sustainable economies requires market qualities that are not only competitive and integrated but which are also resilient, well-governed, green and more inclusive. This approach aligned with the 2015 Paris Agreement and the international community’s 2030 Agenda for Sustainable Development, with its core set of 17 sustainable development goals. The story of the EBRD’s own transition and rich history provides a route map for building the sustainable markets necessary for future growth and prosperity.Table of ContentsList of Abbreviations Acknowledgments Foreword by Odile Renaud-Basso, President of the EBRD Preface PART I An Evolving Landscape Chapter 1 Pivot to Turkey Chapter 2 Markets in Crisis Chapter 3 Arab Spring Chapter 4 Operations in Greece and Cyprus Chapter 5 Geopolitical Tensions PART II Towards Sustainable Market Economies Chapter 6 Rethinking Transition Chapter 7 Equality of Opportunity Chapter 8 Supporting Resilience and Good Governance Chapter 9 A Better Climate PART III The Role of the EBRD Chapter 10 The EBRD after 30 Years Photos Index

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Book SynopsisThis book explores a range of prospective avenues, models, and operational and strategic approaches to Lean Six Sigma (LSS), a contemporary Continuous Improvement (CI) practice for achieving a quality-based competitive edge in organisations. Lean Six Sigma project case studies from banking organizations help to illustrate the operational dimensions of LSS, while the case-specific and cross-case analyses presented here demonstrate its strategic value. While the case data used to arrive at the findings come from the Banking firms, it allows generalizability beyond the Banking and Financial Services sector. The book contends that LSS is not merely a CI practice, but a higher-order organizational capability, more precisely a dynamic capability, that allows firms to gain a competitive edge based on quality. Addressing the interests of practitioners and researchers alike, the book strikes a balance between theory and practice. For practitioners, it offers guidance on using LSS to gain a competitive advantage, and on evidence-based practice in quality management and operational excellence. For researchers, it presents a wealth of literature and expands the body of knowledge on quality management. Accordingly, the book is of immense value to both practitioners and researchers, helping the former unlock the value of LSS as both an operational and strategic resource, and highlighting potential research directions and applications for the latter.“This book provides a deep understanding of Lean Six Sigma applications. It inspires by transferring the principles of the concept into uncommon areas of operations and management behind the usual quality and project management. While reading the book I got hit by a great idea of applying Lean Six Sigma in my digital business as well. My impression at the end of the book was that sky is the limit for the right employment of Lean Six Sigma, especially while viewing it from a dynamic capabilities’ lens. Readers of this book will surely receive insights for improving their business processes both operationally and strategically. Although the book is focused on banking, it is actually suitable for a really wide audience. This is a brilliant piece of research as a book that will serve as a guide for transformation by the prism of Lean Six Sigma.” - Professor. Dr. ZornitsaYordanova, Chief Assistant Professor of Innovation Management, University of National and World Economy, Sofia, Bulgaria “Lean Six Sigma needs to be understood from a systems perspective and there exists a huge knowledge gap in this area of finding holistic solutions to business problems. This book is a very welcome work that addresses this call. It integrates quality management resources and dynamic capabilities view towards practice. Banking and Financial Services was aptly chosen as it has the most direct applicability for social enterprises. Anyone interested in creating more impact with less will surely benefit from reading the book” -Alex Abraham, Chief Executive Officer, Lean Success Partners, Winnipeg, Manitoba, Canada “The book is a refreshing booster to the world of Quality Management especially in the context of Banking and Financial Services. Concepts and terms like “Rapidness of Lean & robustness of Six Sigma to solve operational problems” “Hybrid methodology” resonate very well with what we do in the industry today. Another interesting fact about the book is applying “Dynamic Capabilities approach” to Quality Management, that sets a fresh Quality Oven and ensures this book is definitely a good investment of authors’ intellect.Best part – Even if a reader is new to the world of Quality,this book will be appropriate and resonating. For Researchers and Practitioners, both being leaders orfresh entrants, this book stands out to be a must-read, as it demonstrates the success of the Lean Six Sigma methodology via case studies and practical applications.” -Udit Salvan, Director, Global Transformation & Engineering Network,An American Multinational Financial Services Corporation, New York, USATable of ContentsCHAPTER 1 INTRODUCTION 1.1 The need for the hour 1.2 An introduction to Quality Management 1.3 From Lean and Six Sigma to Lean Six Sigma 1.4 Focus on this book 1.5 Scope and methods used 1.6 Summary of Chapter 1 CHAPTER 2 BACKGROUND OF KEY CONCEPTS 2.1 A Brief Overview of Service Quality 2.2 Competitive Advantage in Quality 2.3 Continuous Improvement 2.4 Organizational Learning in The Context of CI 2.5 Lean Services 2.6 Six Sigma in Services 2.7 A Brief Overview of Lean Six Sigma 2.8 Summary of Chapter 2 CHAPTER 3 AN OVERVIEW OF BANKING SECTOR 3.1 Introduction to Banking3.2 Types of Banking and associated practices3.3 Quality Management in Banking3.4 Process Improvement in Banking vs other sectors 3.5 Summary of Chapter 3 CHAPTER 4 A MORPHOLOGICAL ANALYSIS OF RESEARCH LITERATURE ON LEAN SIX SIGMA FOR SERVICES 4.1 An Overview of Lean Six Sigma in Services 4.2 Data from Literature and their Classification 4.2.1 Fundamental Classification 4.2.2 Methodological Classification 4.2.3 Chronological Classification 4.2.4 Sector-Wise Classification 4.3 Morphological Analysis of the Literature 4.3.1 Dimension 1: Organizational Context of Application 4.3.2 Dimension 2: Desired Outcomes 4.3.3 Dimension 3: Implementation Systems 4.3.4 Dimension 4: LSS Tools and Techniques 4.3.5 Dimension 5: Integration with Other Philosophies 4.3.6 Dimension 6: Evaluation Methods 4.4 Discussion 4.5 Summary of Chapter 4 CHAPTER 5 LEAN SIX SIGMA PROJECTS IN BANKING FIRMS – Analysis of Implementation Cases 5.1 An Overview of Research Literature on LSS in Banking 5.2 Evidence from Practitioners’ Literature 5.3 Real Time Applications of LSS in Banking 5.3.1 Approach 5.3.2 LSS Project Management Method Used 5.4 Case Studies 5.4.1 Case A: Optimization of Employee Utilization 5.4.2 Case B: Accuracy Improvement in Payments Processing 5.5 Lessons Learned and Managerial Implications 5.5.1 LSS Project Management is a sub-Set of LSS Deployment 5.5.2 LSS As a Systems Approach for Process Improvement 5.5.3 Identification of Correct LSS Candidates 5.5.4 Management of Stakeholders in LSS Projects 5.5.5 Change Leadership for LSS Projects 5.6 Summary of Chapter 5 CHAPTER 6 LEAN SIX SIGMA AS A DYNAMIC CAPABILITY – An Analysis of Banking Firms 6.2 Approach 6.2.1 Case Selection 6.2.2 Site Visits and Preliminary Interviews 6.2.3 Additional Interviews and Cross-Case Analysis 6.3 Findings 6.3.1 Compelling need for purposive creation of LSS Capability 6.3.2 LSS as a Vital Component of the Capabilities Network 6.3.3 Path Dependency and Emergence 6.3.4 LSS Enables Organizational Learning 6.3.5 Technical and Evolutionary Fitness of LSS 6.3.6 LSS exhibits VRIN Characteristics 6.3.7 LSS exhibits Agility towards Environmental Dynamism 6.4 Summary of the Conceptual Model 6.4.1 Motivational Drivers 6.4.2 Input Factors 6.4.3 Activity Components 6.4.4 Influencing Factors 6.4.5 Outcomes 6.5 Discussion 6.6 Summary of Chapter 6 CHAPTER 7 SUMMARY AND CONCLUSIONS 7.1 Overall Summary 7.2 Summary of Findings and Affirmations 7.3 Implications 7.3.1 Practical Implications for Managers/Practitioners 7.3.2 Theoretical Implications 7.4 Limitations and Directions for Future 7.5 Conclusions

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Book SynopsisThis book shows banking professionals how to leverage the best practices in the industry to build a structured and coordinated approach towards the digitization of banking processes. It provides a roadmap and templates in order to industrialize the financial services firm over iterative cycles.To achieve the planned business and revenue results at the optimal costs, the digital transformation has to be calibrated and coordinated across both the front and back office, scaled and timed against external innovation benchmarks and Fintechs. To this end, data collection and evaluation must be ingrained, banking-specific artificial intelligence methods must be included, and all digitization approaches must be harmonized on an iterative basis with the experience gained. Spread over several chapters, this book provides a calibration and coordination framework for the delivery of the digital bank 4.0. Table of ContentsIntroduction- Evolution of BankingTactical Approach to the IndustrialisationInvesting in Alignment of Industrialisation and Innovation EnginesIndustrialising DataDeliver Digital ExperienceCloud Adoption- A Foundational EngineIndustrialise to Manage Changes in the External EnvironmentPlatform Banking BusinessAPIs are the Public Persona of an Induatrialised BankBIAN Framework to build Banking AI and Semantic APIsConversational BankingBanking AI as a Service.

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Book SynopsisThis is an open access book.This book is an integration of keynote speeches, lectures, and related teaching materials during the five years of the "Central Bank Policy Mix: Issues, Challenges and Policy Responses" flagship program of the BI Institute, the learning and research centre of Bank Indonesia. The book examines the interactions among central bank policies including monetary policy, exchange rate policy, macroprudential policy, and capital flow management and also elaborates on modeling issues and quantitative analysis of the interaction between macroeconomic variables and policy instruments. Table of ContentsCentral Bank Policy Mix: Key Concepts and Indonesia’s Experience.- Central Bank Policy Mix: Issues, Challenges, and Policy Responses.- Monetary Policy.- Exchange Rate Policy and Regimes.- Managing Capital Flows.- Financial Stability and Systemic Risk.- Macroprudential Policies and Institutional Arrangements.

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Book SynopsisWritten by a major public figure and player in the events, this important book documents and evaluates a turning point in the political and economic history of Southeast Asia's most populous country, Indonesia. Controversial issues such as the infamous bank closures are analysed, and there is a wealth of detail on a range of topics during this turbulent period in Indonesia's recent history. This book contains a vast amount of original and valuable material, including the workings of the International Monetary Fund (IMF) at a critical juncture. It also details the various domestic responses to the crisis against the swift and ferocious behaviour of the international markets. Part autobiography and part treatise, this volume candidly examines the Bank Indonesia crisis and has important lessons and insights into the way the economy was managed in the last years of the Soeharto era. A must-read for economists, government analysts and scholars of Southeast Asia and Indonesia in particular which is destined to itself generate much more debate about the events of that period.

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Book SynopsisThe next generation internet, the Internet of Things, cannot work without an Internet of Value. The Internet of Value or ValueWeb, for short allows machines to trade with machines and people with people, anywhere on this planet in real-time and for free. The problem is that our old system cannot work that way, as it takes days to process and costs a fortune. Using a combination of technologies from mobile devices, wearables and the bitcoin blockchain, fintech firms are building the ValueWeb regardless. What does that mean for financial institutions, governments and citizens? This book provides the answers. Chris Skinner one of the most authoritative voices on FinTech anywhere has provided us another timely and thoughtful look into the fascinating convergence of technology, e-commerce, and finance that is changing the world. - Seth Wheeler, Former Economics Advisor to the US President and The White House Skinner's ValueWeb is a sweeping and well-researched analysis of the big technology trends that will shake the windows and rattle the walls of the industry -Don Tapscott, Best Selling Author This book will be an invaluable read for all interested in the way business works.- Sir Roger Gifford, Former Lord Mayor of LondonBest insight into money in the 3rd industrial revolution, aka the digital revolution, you will read.-Lawrence Wintermeyer, CEO Innovate FinanceThis is another must-read, not only for those interested in the world of FinTech, but anyone wanting to get a glimpse of a future where monetary and non-monetary transfers occur instantaneously across mobile and digital networks.-Jim Marous, The Financial Brand/Digital Banking ReportChris has a great eye for the case studies and practical examples of innovation that help you to really reflect on where banking is going.-David Birch, Director Consult Hyperion

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Book SynopsisTrade Review"One of the most authoritative voices on Fintech anywhere." --Seth Wheeler, Former Special Assistant to the President for Economic Policy at the White House

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Book SynopsisTraditional banks are facing unprecedented disruption from challenger banks today. So why aren’t more of them launching challenger banks of their own? Well, two high-profile examples – JP Morgan’s Finn and RBS’s Bo – were launched with much fanfare, but both shuttered after less than a year. In light of this, the success of TMRW digital bank by UOB, launched in Thailand in 2019 and Indonesia in 2020, is astonishing. Dr Dennis Khoo, who created TMRW, shares with us the thinking behind the design of this revolutionary undertaking. At every step of the way, he and his team went against established paradigms and bucked conventional wisdom to build ASEAN’s first digital bank. Filled with visionary analysis and on-the-ground guidance, Driving Digital Transformation demonstrates how this success can be replicated across all industries. For any leader or organisation starting on a major digital initiative, this book is a must-read. What makes this playbook particularly valuable is that it is written by Dennis Khoo, one of the sharpest minds in the industry. – Mary Huen, CEO, Standard Chartered Hong Kong

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Book SynopsisThis book discusses all aspects of money laundering, starting from traditional approach to financial crimes to artificial intelligence-enabled solutions. It also discusses the regulators approach to curb financial crimes and how syndication among financial institutions can create a robust ecosystem for monitoring and managing financial crimes. It opens with an introduction to financial crimes for a financial institution, the context of financial crimes, and its various participants. Various types of money laundering, terrorist financing, and dealing with watch list entities are also part of the discussion. Through its twelve chapters, the book provides an overview of ways in which financial institutions deal with financial crimes; various IT solutions for monitoring and managing financial crimes; data organization and governance in the financial crimes context; machine learning and artificial intelligence (AI) in financial crimes; customer-level transaction monitoring system; machine learning-driven alert optimization; AML investigation; bias and ethical pitfalls in machine learning; and enterprise-level AI-driven Financial Crime Investigation (FCI) unit. There is also an Appendix which contains a detailed review of various data sciences approaches that are popular among practitioners.The book discusses each topic through real-life experiences. It also leverages the experience of Chief Compliance Officers of some large organizations to showcase real challenges that heads of large organizations face while dealing with this sensitive topic. It thus delivers a hands-on guide for setting up, managing, and transforming into a best-in-class financial crimes management unit. It is thus an invaluable resource for researchers, students, corporates, and industry watchers alike.Table of ContentsChapter 1: Introduction to financial crimes and its participants.- Chapter 2: Anti financial crimes organization overview in a financial institution.- Chapter 3: Financial institutions approach to curbing and mitigating financial crimes.- Chapter 4: IT solutions for monitoring and managing financial crimes.- Chapter 5: Typical challenges faced by AML and compliance divisions.- Chapter 6: Applications of artificial intelligence and digitization in financial crimes.- Chapter 7: Data organization and governance in financial crimes.- Chapter 8: Machine learning approach to customer due diligence and watchlist monitoring.- Chapter 9: Applying machine learning for transaction monitoring to optimize false positives.- Chapter 10: application of network analysis to further improve detection of financial crimes.- Chapter 11: AML investigation and application of digitization and machine learning for saving investigation time.- Chapter 12: Futuristic enterprise level AI driven Financial Crime Investigation unit (FCU) for a financial institution.

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Book SynopsisDuring the First World War, ill-advised steps by colonial officials in the Philippines who were responsible for the colony's finances created a crisis which lasted from 1919 until 1922. The circumstances shook the foundations of the American colonial state and contributed to Manuel L. Quezon's successful effort to replace Sergio Osmea as leader of the politically dominant Nacionalista Party. These events have generally been blamed on a corruption scandal at the Philippine National Bank, which had been established in 1916 as a multi-purpose, semi-governmental agency whose purpose was to provide loans for the agricultural export industry, to do business as a commercial bank, to issue bank notes, and to serve as a depository for government funds.Based on detailed archival research, Yoshiko Nagano argues that the crisis in fact resulted from mismanagement of currency reserves and irregularities in foreign exchange operations by American officials, and that the notions of a ""corruption scandal"" arose from a colonial discourse that masked problems within the banking and currency systems and the U.S. colonial administration. Her analysis of this episode provides a fresh perspective on the political economy of the Philippines under American rule, and suggests a need for further scrutiny of historical accounts written on the basis of reports by colonial officials.

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