bluuebunny/crossref_metadata_2025 huggingface dataset:
Connecting and aligning distributed, global innovation teams for high performance
Authors: Osgood Robert T.
Published: July 2024

In early 2000, the author and several colleagues began a project with a Fortune 100 client seeking to improve several innovation processes that were seen as key to future competitive advantage. What began as a single study became a decade-long research project focused on studying innovation across more than 110 projects with Fortune 1000 companies. A key aspect of the research team's work was the exploration, development and testing of what became known as the ‘innovation-­connectivity performance path’, which is a model for exploring the interrelated ways in which 16 elements of people, technology and place (P-T-P) can be employed to enhance team processes and enable innovation. Applying the model, and using both direct and indirect measures, the research findings show that teams rated highly on all 16 elements of P-T-P (ie those that were highly connected) demonstrated significantly higher levels of collaboration (+15–25 per cent), better project results (+15–20 per cent) and superior overall innovation performance (+3–8 per cent). Reinforcing the overall results is the idea that addressing elements related to ‘people’ considerations (mission, network, manner, leadership, structure, multitasking, interdependence, values and diversity) establishes the context for innovation success, while, within that context, ‘technology’ (mobility, process and readiness) and ‘place’ (location, workspace, support and paths) provide individuals and teams with the control and choice of how, when and where to work most effectively.
Plan now or pay later: Sustainable design ideas for digital asset management
Authors: Gellner Michael , Diamond David
Published: July 2024

Despite what the vendors promise, ‘out of the box’ digital asset management software is never ready for use. The ultimate benefit one can derive from such software will depend on careful consideration of one’s needs, and the planning of one’s solution. This paper summarises some important points to consider, and provides the guidance necessary to move forward with the purchase and implementation of a digital asset management initiative.
Evaluation of the Basel VaR-based market risk charge and proposals for a needed adjustment
Authors: Fricke Jens , Pauly Ralf
Published: July 2024

This analysis shows that in high risk situations the Basel II guidelines fail in the attempt to cushion against large losses by higher capital requirements. One of the factors causing this problem is that the built-in positive incentive of the penalty factor resulting from the Basel backtesting is set too weak. Therefore, this paper proposes a new procedure for market risk regulation and it demonstrates how this works with real time series. A comparison study shows that contrary to the existing Basel regulation the proposition presented here has the intended quality as a built-in incentive for choosing a reliable forecasting model. By including the expected shortfall as a further measure of risk this paper's concept yields a steeper increase of the penalty factor and as a consequence a stronger effect of risk underestimation on the capital requirement. The recent proposal of the Basel Committee on Banking Supervision may have the same weakness as the Basel II regulation because it is constructed in an analogous manner.
Hosting a sustainable visitor economy: Lessons from the regeneration of London's 'Banglatown'
Authors: Shaw Stephen J.
Published: July 2024

In London, as in other large cities in OECD countries where immigrants have settled, ethnic minority entrepreneurs have successfully traded upon the appeal of particular streets as 'exotic' places of leisure and entertainment for high-spending visitors, especially through restaurants, bars, street markets, festivals and other events. In the case of Brick Lane in London's historic East End, Bangladeshi restaurateurs have stimulated the rejuvenation of a long-neglected inner-city street whose name was more commonly associated with a declining textile trade, the severe poverty of immigrant communities and recurring inter-racial tensions. Over the past decade, a fast-developing visitor economy has been supported by public investment, especially in infrastructure to accommodate an influx of visitors, and place-promotion to raise its profile as an asset to London's tourism offering. The underpinning philosophy of this self-proclaimed 'new model of regeneration' has been the creation of wealth — as opposed to ongoing subsidy — driven by local entrepreneurs who capitalise on the sustainable competitive advantages of an inner urban location, exploiting market opportunities through improved connectivity with more affluent areas of the city. In this case, the strategy required a significant upgrade of pedestrian links and an attractive street environment where high-spending customers would feel safe, especially after dark. Intervention to nurture leisure and tourism can help diversify and strengthen the local economy, generate employment and raise confidence in inner-city areas where low self-esteem has for many years been reinforced by the negative perceptions of outsiders. There may, however, be understandable fears that an increasing number of visitors will intrude upon the everyday activities of local residents and disrupt the operation of businesses in other sectors. In this example, in the early 2000s, opinions polarised over a proposal to pedestrianise the street and accommodate further expansion of the restaurant trade. The paper examines the underlying causes of bitter local opposition. This leads to discussion of how objections were addressed and design solutions developed through an innovative two-year programme of engagement and consultation, as representatives of the area's diverse communities became actively involved in shaping proposals to improve the pedestrian environment by means other than closure of the street to vehicles (scheme implemented 2002–2006).
The journey towards a responsible AI future: Hype, fear and hope
Authors: Lau Theodora
Published: July 2024

This paper discusses artificial intelligence’s (AI’s) growing prominence in, and impact on, various aspects of our daily lives, with a focus on the financial services industry. It highlights the evolution of use cases in banking against the backdrop of the hype cycle that we are in today and discusses how the technology can be used to streamline operations, increase productivity, drive new business opportunities and improve financial inclusion. It also urges readers to be mindful of the multifaceted impact of the technology and the responsibilities that organisations must bear to ensure reliability, transparency, safety, security, explainability, privacy and fairness. The author emphasises the importance of trust as a cornerstone and advocates for diversity in AI development and data representation to avoid reinforcing biases and inequities in our society. The paper is a call to action for a more thoughtful approach to innovation — urging stakeholders to recognise the shared responsibilities in shaping a human-centric, inclusive and trustworthy future.
Assessing the development of airport concession models and financing in times of a financial crisis
Authors: Stiller Dietrich F. R.
Published: July 2024

The market for airport transactions presents a mixed picture. While numerous recent transactions have been cancelled, postponed or closed on terms and conditions far less favourable to concession grantors or sellers than those of previous years, other recent transactions have been successfully completed, important landmark transactions have achieved significant progress and roadblocks are being removed for investors. At the same time, investors, as well as their lenders, are taking a far more conservative approach when evaluating project and finance risks. What kind of price structures contribute to the sustainability of the project? How do mitigants against extraordinary project risks enhance bankability? What tools are available to manage financing shortfall events? How can direct agreements help? And why should a concession agreement contain fair terms and conditions that balance the interests of the parties involved in case of an early termination event? The tools to procure bankability do not need to be reinvented, but they were not always implemented during the times of an overheated market. This paper holds that the market will return as traffic picks up again, but that a more conservative investment and financing approach with more balanced concession agreements will dominate the market for the near and medium future.
How machine learning is developing to get more insight from complex voice-of-customer data
Authors: Howlett Nigel
Published: July 2024

This paper introduces a new type of machine learning for voice-of-customer data and discusses its advantages, use cases and implementation compared with previous machine learning methods and text analytics.
Organisation-led engagement with consumers in hidden social spaces
Authors: Wiid Ria , Hurley Paul , Mora-Avila Paulo , Salmon Jon
Published: July 2024

Technological advances, the internet and social media provide consumers with instant means of communication where participants engage in the exchange of information about innumerable topics. Although most of these communications occur in the public domain within online groups and communities, some forms of communication are private and obscured from public view. Academics and practitioners refer to this supply of hidden social sharing and conversations that are invisible to most analytics programs as ‘dark social’. This conceptual paper explores these communications, with respect to instant messaging, and considers how organisations can lead conversations to engage consumers in hidden social spaces. This is particularly apt when hidden social conversations concern brands, products and services as the subject of the communication. When appropriate to engage with consumers in hidden social, organisations must be clear on their role in the process and approach their hidden social connections with mindfulness and consistency.
The challenges of the leverage ratio
Authors: Samuels Simon
Published: July 2024

The crisis of confidence in the risk-weighted asset (RWA)-based capital ratios has seen regulators increasingly embrace the non-risk weighted ‘leverage ratio’ for measuring capital adequacy. While such ratios have the apparent virtue of simplicity, debates over the definition of assets in practice make the leverage ratio a far from simple measure. Moreover, the initial Basel III idea of the leverage ratio being little more than a ‘back stop’ measure appears to have been overtaken by its promotion to Pillar I status, thus ranking it as the equivalent to the RWA measures. For European banks in particular — who unlike US banks have not developed the necessary financial architecture to cope with a leverage ratio — this represents a major challenge, disrupting the economics of different business activities. Rather than the current unappealing choice of following either a not-trusted internal ratings-based measure or an ultra-crude leverage measure, a better option might be standardised RWAs.
An alternative methodology for evaluating airport expansion with particular focus on Heathrow
Authors: Kersley Helen
Published: July 2024

Proposals to expand capacity at Heathrow Airport were in formal discussion since publication of the Air Transport White Paper in 2003, until recently when the new UK administration withdrew support for the project. The subject led to a highly motivated and polarised debate between those in favour and those against, with each side keen to demonstrate the strength of their case because they felt the stakes were so high. In 2009, the UK Government's Department for Transport published its impact assessment, the results of its cost-benefit analysis of different options for expanding Heathrow, including through the addition of a third runway. The impact assessment found there would be a net benefit from expansion; however, it did little to calm the debate because some important factors were omitted, particularly community impacts. In addition, the evidence presented was not seen to directly substantiate core arguments about the economic benefits. Research by the new economics foundation (nef) set out to apply an alternative methodological approach to evaluating a third runway at Heathrow using the principles of social return on investment. In contrast to the official government appraisal, which showed a net benefit to the UK from Runway 3 of £5.5bn in the central case, the results of nef's study found a headline net cost to UK society of £5bn. This included social and environmental costs that were at least £2bn higher than those estimated in the official government appraisal. This paper argues that by making transparent the direct and indirect economic, social and environmental impacts, social return on investment has the potential for improving public confidence in economic appraisals and the decisions which rely on them.
Thought leadership disrupted
Authors: Pundyk Jeff
Published: July 2024

Overwhelmed by the amount of content coming at them, executives say they are more discerning about the sources they choose, and reward brands that are credible thought leaders with sales, loyalty and advocacy. But, while thought leadership offers big rewards for those marketers who get it right, most face several challenges, including the need to refocus on producing original and evidence-based content, the imperative to embed greater management discipline in its development and delivery, and continuing to push back the frontiers in terms of presentation, targeting and distribution.
What can we learn about repurchase programmes and systemic risk? Evidence from US banks during financial turmoil
Authors: Hamouda Foued
Published: July 2024

This paper contributes to the debate on systemic risk by measuring and comparing systemic risk and interconnectedness when banks repurchase shares during financial turmoil. It assesses the extent to which buyback programmes within banks contribute to systemic risk, relying on several measures of systemic risk and connectedness in a sample of 112 US banks during both a tranquil and an unstable period. Empirical results reveal remarkable increases in systemic risk in repurchasing banks compared to non-repurchasing banks and they are more exposed to it in difficult periods such as the European debt crisis and COVID-19. Banks that repurchased shares strengthened indirect links during systemic events and are potentially riskier. The results also classify and rank banks in terms of systemic risk involvement and connectedness and contribute to the identification of systematically important banks.
The juice is worth the squeeze: How efforts to address social determinants of health pay off
Authors: Pilgrim Ginger
Published: July 2024

The healthcare industry is increasingly investing in initiatives upstream of the site of care to address broader population health issues and the downstream economic impacts of social determinants of health (SDOH). Organisations continually struggle, however, to define how to support a business case of high-impact, sustainable SDOH efforts. PricewaterhouseCoopers (PwC) used publicly available data to conduct a diagnostic assessment of prominent healthcare providers’ existing ‘upstream interventions’ and produced a maturity score that reflects the success of these providers’ SDOH initiatives. This paper details three industry examples of leading ‘upstream interventions’ and examines the efficacy of each example in addressing SDOH. While healthcare providers can approach SDOH from a multitude of dimensions, their primary focus to support their business case should be formulating a strategy around their unique strengths relative to competitors in the context of the communities they serve. Further, providers that fail to prioritise SDOH run the risk of falling behind those who do push upstream initiatives, as costs of care continue to rise and brand recognition as a community leader becomes increasingly important.
Collateral is the new cash: The systemic risks of inhibiting collateral fluidity
Authors: Hill Andy
Published: July 2024

Collateral is becoming increasingly important in the post-crisis world, driven by both a need for more secured funding as well as regulatory requirements to reduce credit risk. In many ways, collateral has become the new cash, underpinning the smooth functioning of funding and capital markets, while, in turn, providing the basis for economic growth. The expected increase in demand for collateral may lead to demand-supply imbalances; however, what is more important is collateral fluidity, which allows collateral to move around the system to meet varying demand conditions across the financial markets landscape. This requires both robust and efficient settlements infrastructure (the ‘plumbing’), as well as bank funding desks that are able to source, price, manage and mobilise collateral (the ‘pump’). There exist a number of market and regulatory initiatives that may impact collateral fluidity, either positively or negatively. Some relate directly to the ability of bank funding desks to function effectively, while others affect the providers and takers of collateral. The systemic risks arising out of regulations that inhibit collateral fluidity would have broad and severe repercussions, not only for the financial markets, but also throughout the real economy. Ultimately, sound regulation is essential for the efficient and stable functioning of global funding and capital markets that support our economies. These markets are already significantly safer than before the financial crisis. As collateral becomes an increasingly important feature of the new market and regulatory landscapes, so regulation should avoid inhibiting, and ideally seek to enhance, collateral fluidity.
Challenging the myths: An investigation of the barriers to wider use of Local Asset Backed Vehicles in the UK
Authors: Greenhalgh Paul , Purewal Bikki
Published: July 2024

With a shortage of debt funding, particularly for real estate investment and development, alongside public-sector funding cuts, the full effects of which are only just being felt, the need to explore alternative modes of regeneration financing has, arguably, never been so acute. When considering the public-sector real estate asset base, composed of operational assets, commercial estate and development land, a series of questions arise, mostly related to access to finance. Such questions are often prompted by concerns about refurbishment requirements and liabilities, financing of new developments, the creation of sustainable communities and the delivery of better estate management. How will these be funded in light of current budgetary and wider resource constraints? One option is Local Asset Backed Vehicles (LABVs) — limited liability, special purpose joint ventures, operating through Public–Private Partnership collaboration between a public body and a private company. This paper presents the findings of a research project that sought to identify essential success factors and investigate barriers preventing wider uptake of LABVs, first through a comprehensive review of the literature on LABVs that have operated in the UK over the last decade, and secondly, by capturing, through expert interviews, the perceptions and experiences of practitioners involved in such LABVs. The study sheds light on some of the myths surrounding LABVs and attempts to dispel some of the common misconceptions surrounding their procurement, operation and performance. The research ultimately sought to identify the key measures that are required to make LABVs a more viable tool for financing and facilitating investment in economic development, regeneration and renewal in the UK.
RICS Home Survey Standards and a Victorian house case study
Authors: Rock Ian
Published: July 2024

The case study featured in this paper provides a clear example of the difficulties faced by clients who are poorly advised by the surveying profession with substandard home survey reports. It also raises questions about the fundamentals of carrying out home survey inspections particularly in relation to property types which commonly suffer from inherent design defects or where structural alterations have been carried out. To improve the quality of survey reports going forward and address a wide range of consumer concerns, new Royal Institution of Chartered Surveyors (RICS) Home Survey Standards have recently been adopted by the profession. It is therefore an opportune time to reflect upon the extent to which the new standards are likely to improve the quality of the client experience in practice.
Impact protection using novel fibre reinforced concrete
Authors: Richardson Alan , Littlemore Michelle , Toase Harry
Published: July 2024

The research described in this paper identifies how the use of three-dimensional (3D) unwelded fibre reinforcement can provide protection against back-face spalling in the case of damage caused by impact, and contributes to understanding how such material specification can carry significant long-term benefits. When subjected to ballistic impact or explosion, reinforced concrete suffers back-face spalling caused by compressive stress waves, resulting in projectiles that can cause injury and collateral damage. This conceptual study seeks to reduce concrete projectiles and subsequent damage using 3D unwelded fibre-reinforcement. Conventional two-dimensional (2D) straight fibres rely on orientation and positioning for effective bridging of rupture planes, whereas 3D fibres benefit from inherent superiority of their orientation across a rupture plane. Twenty-five kilograms of 3D unwelded fibres (3DUWBL) and 2D fibres per m3 of concrete were used in the mix designs. Samples were tested for compressive strength, fibre pull-out, three-point and four-point flexural testing and ballistic impact. There was significant improvement in toughness and post-fracture control within the 3DUWBL specimens. The 3DUWBL fibres exceeded EN 14889 standards, outperforming the 2D fibre specimens, and controlled back-face spalling and reduced airborne projectiles in comparison to the 2D fibres. The study is limited to demonstrating proof of concept. The implication of these results will inform future research studies in this area. The results identify a current gap in research associated with 3D unwelded fibre use and the reduction of back-face spalling. 3D fibres overcome the significant failings of even dispersion and bond pull-out strength ordinarily associated with 2D fibres. This is due to the x y z orientation and omission of the welded connection. The implications are a reduction in manufacturing time and costs, making 3DUWBL fibres a more viable industry application. This research shows that 3D unwelded fibre reinforcement provides good resistance to back-face spalling of concrete elements when they are subjected to ballistic stresses. Such fibres are not currently commercially available, but they would be cheaper to produce, and their novel fibre shape provides enhanced post-crack toughness performance with the addition of lower variability, providing a lower-risk form of crack control.
Innovation in the face of disruption
Authors: Herrmann Katharina
Published: July 2024

The coronavirus crisis has accelerated various trends across industries, predominantly in favour of digitalisation and the need for innovation. Consumer behaviour is changing rapidly in response to the crisis, as customers expect their banks to mirror the personalised, quick delivery experiences offered by the BigTechs and the companies outside of the financial world. With regard to innovation in times of crisis, financial services companies are faced with a choice between a defensive approach, where they safeguard their current operations — already hugely under pressure — and an offensive approach, which is crucial to avoid losing relevance, market share and profits. The dilemma banks face concerns how to save costs and safeguard their current operations while addressing immediate customer needs and investing in the future. This paper describes shifts in customer behaviour and explores opportunities for banks to disrupt themselves and invest in new business models with a focus on platforms.
Marketing to Hispanic digital natives: Leveraging their online reviews and word of mouth
Authors: Taken Smith Katherine
Published: July 2024

Consumers are paying less attention to traditional advertising and opting out of digital advertising. Here lies the advantage of online reviews: they are not intrusive, and consumers seek them out as a source of information. Hispanic digital natives are active players in online reviews, as both contributors and receivers. Online reviews are a form of word-of-mouth communication, which is another venue for spreading information. This study found several techniques that marketers can use to prompt Hispanic young adults to post product reviews and also tell friends about a company. For example, a company should showcase its corporate social responsibility efforts. Showing concern for society will generate recommendations from this group. Some differences were found among Hispanic and non-Hispanic digital natives; for example, Hispanics are more receptive to companies they have befriended on social media.
Risk management: Where are the greatest risks in the airport development lifecycle and what factors should be front of mind?
Authors: Mota Marcelo
Published: July 2024

Airports continue to be built or expanded around the world in order to match capacity to the continuous growth of demand for air transportation. Constructing and delivering an airport is no easy task, however. The complexity, sheer size and budget of such an endeavour put this type of project in the category of a mega project — and, consequently, in the category of a risky business. Risk, however, is manageable. The key to succeeding in managing uncertainty and its potential consequences is to understand what the greatest risks are in an airport development project — and, specifically, where they are in each stage of the project’s life cycle — and then address them with best business and project management practices. In doing so, three major risk factors — systems integration, project interface management and people and operational readiness — require more attention and specific approaches.
An open banking ecosystem to survive the revised Payment Services Directive: Connecting international banks and FinTechs with the CBI Globe platform
Authors: Passi Liliana Fratini
Published: July 2024

The payment services market is evolving at an accelerating rate, driven by continuous technological innovations and major legislative developments. One such piece of legislation is the revised Payment Services Directive (PSD2), which intends to further define a common legal framework for the payment market in the European Economic Area, with the aim of increasing the level of integration and efficiency in the market, as well as increasing the level of consumer protection. In this context, the enhancement of collaborative infrastructures can be the keystone to anticipate and transform the challenges of PSD2 into opportunities. This paper describes the creation of an open banking platform, called CBI Globe — Global Open Banking Ecosystem, to facilitate the interconnection between banks and third parties through application programming interfaces, in line with the new directive. Using this platform, adhering parties will be able to simplify and expedite the administration of current accounts by offering both reporting and payment and collection services, thus exploiting the business opportunities enabled by PSD2.
European data protection laws: Learnings and implications for Indian business
Authors: Babu R. Rajesh , Sista Suren
Published: July 2024

India’s data protection law is grossly inadequate in terms of personal data protection and privacy. While India is contemplating a separate law on personal data protection, this subject is currently dealt with by various laws. Irrespective of the inadequacies, laws of other countries, specifically the GDPR, have direct bearing on the processing and handling of personal data in India given their exterritorial scope. This paper explores the implication of the EU General Data Protection Regulation (GDPR) on Indian business. The paper reviews the state of data protection laws in India, followed by a review of GDPR and the implications of GDPR for Indian business. The paper argues that since India aims to be counted among the best, it would be wise to ensure that data protection laws are in sync with the best practices from across the world to maintain business competitiveness and ensure a level of personal data protection for its citizens.
Creating effective compliance oversight structures for investment advisers
Authors: Jacko Michelle L. , Powell Janice
Published: July 2024

Creating an effective oversight structure is no easy task. Investment advisers face challenges based on growth of the business, changes in regulations, new initiatives from senior management, product and service evolutions and potentially limited budget and resources to support increasing compliance needs. The purpose of this paper is to address how to create an effective supervisory structure. Focusing on recent guidance by the SEC in the form of speeches, Risk Alerts and a case study, we will explore how to identify and address potential gaps that exist in the supervisory structure, including considerations for building a strong culture of compliance and advance effective oversight, considering both teleworking and in-office environments.
Overview of the UK intergovernmental agreement for FATCA implementation
Authors: Bjorkberg Bengt , Leiva Ricardo , Afolabi Yemi
Published: July 2024

The intergovernmental agreement (IGA) signed by the UK and US governments on 12th September, 2012 will now govern the Foreign Account Tax Compliance Act 2010 (FATCA) implementation in the UK, rather than the original US FATCA model. Though implementation is simplified, it is still in no way a trivial matter for UK financial institutions to implement the IGA — withholding tax of 30 per cent could affect US transactions. This paper provides initial answers to the questions of who is affected and from which dates, what needs to be done and what are the next steps. While the format in which reporting will be required and the method of submitting reports to HMRC have yet to be finalised, it is vital that organisations have a data collection strategy to ensure that data required are readily available.
Promoting culturally and linguistically appropriate services (CLAS): Core leadership competencies
Authors: Dumont Natalie S.
Published: July 2024

Health disparities and inequitable care adversely affect diverse populations, are significant among racial and ethnic minorities and cost health-care organisations over US$400bn per year. This paper provides actionable recommendations on using culturally and linguistically appropriate services (CLAS) standards as a management tool to reduce costs and improve quality of care in behavioural health-care organisations. The qualitative Delphi study, on which the paper is based, documented the consensus of opinion from experts identifying core leadership competencies conducive to creating and sustaining CLAS standards competent organisations. Twenty-one expert executive behavioural health leaders located in the United States identified 15 leadership competencies critical to leading a CLAS standards competent organisation. The two most vital competencies were (a) cultural competence and adaption and (b) collaboration and teamwork. Effective executive behavioural health-care leaders use these unique competencies to provide clear plans and strategies to guide collaborative efforts to address health disparities. This study may promote best practices for organisations that hire and train executive behavioural health leaders by validating selection and training criteria predicted on these 15 competencies.
Implementing a framework for digital preservation risk assessment and mitigation at the US National Archives
Authors: Johnston Leslie
Published: July 2024

The United States National Archives and Records Administration (NARA) required a methodology to analyse its holdings in order to better understand its digital preservation risks, and elected to undertake a file format profile and risk analysis of its born-digital electronic records to inform the creation of preservation plans. The development of this methodology allows NARA to document its risk assumptions, understand the state of its digital preservation risks, and provide transparency into its current risk mitigation decisions and capabilities. This article reviews the process for the creation of an electronic record holdings file format profile, development of a format risk analysis and preservation prioritisation instrument, and the creation and public release of draft digital preservation actions plans.
The estimation of Value-at-Risk using a non-parametric approach
Authors: Olfat Amir , Eskandari Farzad
Published: July 2024

This paper is concerned with estimating the risk measure, Value-at-Risk (VaR), without considering the usual hypothesis used in parametric methods. A non-parametric method is used to fit severity and frequency loss distributions in collective risk models. In addition, an optimum bandwidth is estimated. The model is then applied to insurance claims data from a particular insurance company. As a result of the new model, the outcomes show better accuracy, for both light-tailed and heavy-tailed distributions
Leave the past behind with digital process management
Authors: Chopra Kunal , Oswald Neal
Published: July 2024

We are firmly entrenched in the age of the customer, and it is both digitally enabled and fiercely competitive. To date financial services organisations have focused digitisation efforts on front-end applications while foregoing the full potential of opportunities digitisation creates to innovate client-facing operational, service and delivery processes. This paper presents a practical and compelling approach to digitally measure end-to-end (ETE) client-facing and operational processes. The insights digital measurements produce change the dialogue and enable organisations to productively embrace the digital world. It allows the reader to consider an innovative approach to digitally generating process and client experience analytics and how to practically and pragmatically use those analytics to align stakeholders, transform and innovate ETE processes in line with client expectations and target client journeys and digital strategy.
Data privacy progress, enforcement and Brexit
Authors: Félix Dubhe Sarmiento , Wright Steve
Published: July 2024

This paper discusses how, in the second year of the General Data Protection Regulation (GDPR), there has been outstanding progress in public awareness regarding data privacy, an increase in corporate accountability and awareness at all levels of organisations, a cultural shift in businesses regarding the use of data and international influence of the Regulation. It stipulates how there has also been progress in GDPR enforcement as Data Protection Authorities (DPAs) have been more active, imposing warnings, administrative fines and processing limitations but it has been inconsistent, as decisions have varied in terms of rigour and quality across the EU (European Union). This has been particularly so due to its conflicting interpretations, the lack of cooperation between DPAs, the extent of the efficiency of the one-stop shop mechanism, among other motives. The paper discusses the lack of clarity on enforcement rules and trends has left businesses in a vulnerable position. Also, Brexit and the Schrems II judgment have left individuals and businesses in a vulnerable position. First, individuals might have to exercise their rights in multiple jurisdictions, and businesses might face double fines for the same violations. Secondly, regarding data transfers between the EU and the UK, if an adequate decision is not reached, businesses will have to rely on other safeguard mechanisms for data transfer, such as the standard contractual clauses (SCCs). The reliance on SCCs, however, is now questionable and uncertain in light of the Schrems II decision. The paper analyses how the use of SCCs will imply additional burdens for data controllers and their valid implementation will depend on the approaches that DPAs and other EU authorities take.
Transforming marketing with artificial intelligence
Authors: Olson Christi , Levy Jennifer
Published: July 2024

Artificial intelligence (AI) is the technology where marketers expect the most growth over the next two years. The benefits of such growth will be twofold. Firstly, AI offers a means of saving time and becoming more efficient. Marketing insights, automation and execution will allow marketers to drive better business results and spend more time on strategy and creative development. AI offers marketers a way to scale personalisation in their marketing execution without burdening their teams. It also gives marketers new ways to provide value to their customers and build lifetime value models, making them more relevant. These deeper relationships are made possible by enabling marketers to get more real-time insights and to leverage predictive analytics to get a better understanding of their audience. AI gives marketers a richer user understanding, making them smarter and more effective. This paper discusses how marketers can use AI to leverage sophisticated reasoning, understanding and interacting to deepen their customer relationships through more natural and personalised forms of engagement.
An introduction to cross-border payments within the COMESA region of Africa
Authors: Wamicwe Andrew M.
Published: July 2024

Within Africa, cross-border payments are yet to become seamless and efficient, and correspondent banking relationships with multiple intermediaries still dominate the payments arena. The cultural divide between anglophone and francophone countries extends to key differences in legal and regulatory frameworks, governance structures, payment channels and currencies. This paper explores the landscape of cross-border payments and the various associated challenges, emphasising the importance of keeping to a specific journey and focusing on one hurdle at a time. Written against the backdrop of the recently passed Africa Continental Free Trade Area agreement, this paper argues that if Africa is to succeed in its pursuit of an effective cross-border retail payments environment, the various stakeholders involved will have to embrace customer-friendly interfaces, fair pricing, standard operating rules and predictable/ reliable payment rails. While it is possible to have differences in infrastructure, as shall be seen in the paper, the adoption of common principles is essential to the development of the sector.
Improving your Active Directory security posture: AdminSDHolder to the rescue
Authors: Grillenmeier Guido
Published: July 2024

This paper covers a key aspect of Active Directory (AD) security, which is often overlooked: the wealth of default read permissions that Microsoft has granted to any user and computer in the directory. The concept of an AD forest being a security boundary must now not only be understood as a protective feature; if you do not have an account in an AD forest, you cannot access any of its AD objects and connected resources. Instead, the security boundary must also be understood as the scope of reach for an intruder to access and assess the security of AD objects once they gain a foothold into an organisation’s network. Removing certain default read permissions in AD is a low-risk operation that pays off by making it much more difficult for intruders to perform reconnaissance that helps them in planning their next steps to domain dominance. Understanding the mechanism of the built-in logic that Microsoft has added to AD to protect the most privileged accounts in the directory (eg members of the domain admins group) is key to realising both the benefits and weaknesses of this mechanism. This paper discusses how this protection mechanism works behind the scenes and how it can be adjusted to remove risky default read permissions to make AD safer. Many AD infrastructures were implemented many years ago and operated by different teams of administrators over time, so most AD implementations today have incurred a solid ‘misconfiguration debt’. This paper covers one aspect of that debt: specifically, how to fix the permissions on objects that had once been added to a privileged group but are no longer a part of that group. Essentially, locking down the visibility of objects and general read permissions in AD is vital to reducing the AD attack surface and thus increasing its security posture.
Overview of the data protection regime in Uganda
Authors: Muhangi Kenneth
Published: July 2024

The 2010s has seen an exponential increase in the use and misuse of personal data. Governments the world over are grappling with regulating data and privacy. The difficulty lies in striking a balance between enforcement of the right to privacy weighed against the importance of utilising data for social and economic growth. This paper defines terms such as personal data, personal identifiers, data protection and privacy. The paper examines the role of data protection and privacy in this fourth industrial revolution and the impact artificial intelligence and the internet of things has had on data protection. The paper focuses on Uganda’s Data Protection and Privacy Act, 2019 with insights from the European Union’s General Data Protection Regulation (GDPR) and the African Union’s Convention on Cyber Security and Personal Data Protection.
‘Pull’ more than ‘push’ for organic alumni development
Authors: Cooper Mary Kay , Lewis Amy C. , Ford Weixing
Published: July 2024

Despite increasing importance of alumni affairs in higher education, considerable efforts on alumni development have often failed to reach their full potential in terms of alumni engagement and alumni support across institutions. At Texas A&M University-San Antonio, the alumni office drew on ‘push’ and ‘pull’ marketing strategies to achieve organic alumni growth with an extremely limited budget. This paper discusses (1) the successes and limitations of the push strategies that were employed for alumni development, such as social media marketing and alumni events, and (2) the benefits and challenges of the pull strategies that were used to primarily target at the university’s current students.
Unmet payment needs and a central bank digital currency
Authors: Henry Christopher S. , Engert Walter , Sutton-Lalani Alexandra , Hernandez Sebastian , Mcvanel Darcey , Huynh Kim P.
Published: July 2024

This paper analyses the payment habits of Canadians both in the current payment environment and in a hypothetical cashless environment. The paper also considers whether a central bank digital currency (CBDC) would address unmet payment needs in a cashless society. Most adult Canadians do not experience gaps in their access to a range of payment methods, and this would probably continue to be the case in a cashless environment. Some people could, however, face difficulties making payments if merchants no longer generally accepted cash as a method of payment. For a payment-oriented CBDC to successfully address unmet payment needs, the main consumer groups — who already have access to a range of payment options — would have to widely adopt the CBDC and use it at scale. This is necessary to encourage widespread merchant acceptance of CBDC, which would, in turn, encourage further consumer adoption and use. Most consumers, however, face few payment gaps or frictions and therefore might have relatively weak incentives to adopt and — especially — to use CBDC at scale. If that were the case, widespread merchant acceptance would also be unlikely. This suggests that addressing unmet payment needs for a minority of consumers by issuing a CBDC could be challenging under the conditions explored in this paper. The minority of consumers with unmet payment needs will only be able to benefit from a CBDC if the majority of consumers experience material benefits and therefore drive its use. Adoption by the majority may have added policy implications that are beyond the scope of this paper.
Assessing and addressing moisture vapour problems in new and old concrete floors with and without a functioning vapour barrier
Authors: Carberry Mike
Published: July 2024

This paper analyses the cause of failures in resin, vinyl and other resilient floor finishes and build-ups attributed to vapour drive. First, it examines the constituents and formation of concrete and why it contains a high quantity of moisture (vapour) and the damage it can cause to the floor build-up, finish and the concrete itself. Secondly, it outlines the analysis and diagnosis of the problem and thirdly, describes the preparation and prevention in line with current technical guidelines. It concludes that an appropriate system should be included in the design on new or problematic floors to prevent future failures.
The role of the ISO 20022 messaging standard in improving payment transactions utilising participants’ data
Authors: Josyula Hari Prasad
Published: July 2024

This paper critically evaluates the prospective influence of ISO 20022, a widely recognised communications standard, on payment services. ISO 20022 provides a standardised and extendable framework aimed at improving efficiency, interoperability, and customer experience in the financial sector. The paper examines how ISO 20022 application can drive revolutionary improvements in payment processing, speeding up transaction processes, and increasing data richness. It also emphasises the importance of taking a balanced approach to ISO 20022 adoption, taking into account both the benefits and obstacles. While ISO 20022 offers enormous opportunity for modernising payment services, organisations must overcome a number of challenges, including technological improvements, data migration and regulatory compliance, to fully realise its promise. By accepting ISO 20022 and addressing its related obstacles, stakeholders can realise the revolutionary benefits of this standard, paving the way for a more efficient and interoperable payment environment.
Threat intelligence meets risk management for operational resilience
Authors: Walsh Teresa T.
Published: July 2024

Threat intelligence, especially cyber threat intelligence, is often given limited value. Some treat it as mutually exclusive from resilience activities or decisions, while others may opine it is not valuable if it cannot be automated. In practice, applying a combination of threat data and intelligence analysis into a business risk management plan is an essential part of how cyber defence and risk management teams can effectively prioritise and focus their programmes. In order to manage cyber risks effectively, private sector companies need to branch out from intelligence-led security to intelligence-supported business resilience. This requires a holistic approach to establishing priority intelligence requirements (PIRs) and analytical products for specific stakeholders. Intelligence analysis is not created for other intelligence analysts but for those seeking to protect the company and its customers, such as risk and business continuity managers. Using the example of third-party and supply chain risks, this paper argues the merits of using advanced levels of intelligence analysis to support cyber defences, as well as risk management and operational resilience.