Leading thinkers from South Africa’s financial services industry gathered at the Gordon Institute of Business Science on the 5Moderated by renowned business journalist Michael Avery, a line-up of high-level speakers engaged in a day of panel discussions focused on the dominant forces shaping banking at present.
“Back pain risks” refer to manageable threats such as global inflation, “heart attack risks” are sudden-onset risks such as cyber-attacks, and “cancer risks” are slow-moving changes that, if left unaddressed, threaten to destabilise not only a single institution, but the entire banking system. The first panel discussion saw Arrie Rautenbach, ABSA Group CEO, Margaret Nienaber, Standard Bank Group COO, and David Buckham, Monocle CEO, providing their thoughts on what would become two significant recurring themes: South Africa’s energy crisis and the country’s greylisting.
Regarding South Africa’s greylisting, the overriding sentiment was that failure to resolve the shortcomings identified by the Financial Action Task Force is simply not an option, though doing so will require co-operation between the financial sector and government. The only way for South Africa to address its greylisting, Malan stressed, is to synchronise its activities in terms of technological innovation, regulation, and law enforcement.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Banking operations reimagined - IT-OnlineForces of change are reshaping banking. The last time the banking industry experienced steeply rising rates off a shallow base was in 2005. Over the past 18 years, low rates have had the effect of a Big Bang, shattering the fundamental equation of banking (deposits drive lending power), severing the connections between related offerings, and […]
Source: ITOnlineSA - 🏆 16. / 63 Read more »
Source: SABCNews - 🏆 37. / 51 Read more »