bluuebunny/crossref_metadata_2025 huggingface dataset:
Business valuation: Understanding and improving the profession
Authors: Choi Steve , Thomson Becky
Published: July 2024

The rapid growth of the business valuation profession has led to fragmentation, causing regulators to questions the consistency, quality, and transparency of valuation work products. Concerns raised in the US triggered the business valuation profession to take a first step to improve the current landscape and contribute to a more unified profession. RICS representatives have joined representatives from the American Institute of Certified Public Accountants (AICPA) and the American Society of Appraisers (ASA) to develop a shared credential for the business valuation profession. The new credential, known as the Certified in Entity and Intangible Valuations (CEIV ™ Credential), responds to regulatory concerns, and promotes enhanced audit quality, consistency and transparency in fair value measurements. There are still issues around consistency in terms of valuation approach. Business valuations often involve valuing both real estate and intangible assets. Distinguishing between real estate and intangible assets may superficially seem relatively straightforward, but there are certain anomalies that a valuer must be aware of and these are highlighted in this paper. Valuation is complex. Companies and financial stakeholders are protected and regulators can have confidence in the profession when valuers meet technical competency requirements, adhere to ethical codes of conduct, and act with due care.
Importance of regional airports for businesses in Norway
Authors: Halpern Nigel , Bråthen Svein
Published: July 2024

This study investigates the impact of regional airports on businesses in Norway. In particular, it investigates the impact of two regional airports: Ålesund Airport and Brønnøysund Airport. The study compares opinions of businesses served by the respective airports and is based on the findings of an online survey that was completed by over 350 businesses. The analysis finds that the airports play an important role in securing accessibility for local businesses and subsequently supporting their transport needs, especially for business travel and networking activities. The analysis also finds that air service provision is able to influence business investment and location decisions. The analysis finds that impacts vary for the different airports and tend to reflect the size and scope of services at the airport or specific characteristics of the region.
Corporate headquarters leasing : Key considerations for a post-pandemic workplace
Authors: Ferranti Kris , Newman Jonathan
Published: July 2024

Among the many impacts of the COVID-19 pandemic on the corporate world, an unprecedented number of offices were left empty as, for months on end, thousands of employees worked from home. Today, as the number of vaccinated employees rises and mask mandates loosen, many employers are revisiting existing headquarters leases — or seeking out new ones — amid a heightened push for hybrid work policies and open and flex-office spaces. In the wake of this rapidly changing landscape, this paper examines the key legal and business considerations companies must keep in mind when leasing their corporate headquarters, including: what to consider in selecting premises; tips and details around the process of interviewing leasing brokers, designers, engineers, architects, construction professionals and project managers; and how best to assemble internal and external teams. As the world continues to wrestle with the long-standing impacts of the pandemic, the decisions companies make now about their headquarters will sketch a critical roadmap for the corporate world for years to come.
Trends and initiatives about robo-advisers: Pioneering unexplored areas in Japan
Authors: Yanagawa Eiichiro
Published: July 2024

This paper addresses trends in FinTech, with a focus on the burgeoning robo-adviser industry and the unique attributes of Japan’s market. This report examines pioneering robo-adviser efforts, technology, business areas ripe for development and the outlook for the FinTech boom. Japan differs from other markets in terms of the diversity of individual asset holdings, the retail investment environment and the level of financial literacy. Despite this vastly different business environment there is immense potential – a blue ocean – for robo-adviser services. This report introduces a spate of recent, innovative initiatives in Japan, identifying technology and business areas ripe for development and challenges that will require attention.
Artificial intelligence in customer service: An empirical study of the banking sector
Authors: Eneizan Bilal
Published: July 2024

Artificial intelligence (AI) has become very important in the business world. The reasons for this include increased computing power, low cost, advanced algorithms, and the ability to leverage Big Data. AI is increasingly being deployed to deliver real-time customer service through live-chat messaging channels. These systems use data from different sources to provide customers with options, recommendations and resolutions. With a focus on the banking sector, this study examines the impact of usefulness, ease of use, problem-solving ability and trust on consumers’ intention to use and preference for AI in the customer service context. The findings indicate that the various variables examined all have a positive effect on both intention to use and preference for AI. These findings are discussed from both an organisational and customer perspective. The finding that customer satisfaction can be significantly improved via the use of AI systems has important implications for the banking sector.
History, technology and hard work: A field guide to digitising a large garment collection at a small institution
Authors: Cacich Amanda , Lee Marshall , Vavrosky Laura , Vinson Dan
Published: July 2024

The Fashion Archive at Mount Mary University is a treasure trove of 10,000 garments and accessories spanning over two centuries. Throughout its history it has supported the fashion design degree programme at Mount Mary, and the digitisation and online exhibition of its contents continues and broadens that tradition. This paper describes the grant-funded process that was developed to digitise a portion of the Fashion Archive and make it available online as the Digital Fashion Archive. The process includes selecting, preparing, photographing, improving the physical storage of, creating metadata for, and uploading images of garments and accessories. It also addresses the significant preparatory steps underpinning current workflows, including the setup of photography equipment and software and the process of choosing an online exhibition platform.
Reducing uncertainty in freight transportation procurement
Authors: Caplice Chris
Published: July 2024

Securing sufficient truckload transportation capacity is a challenge for most shippers. The dominant design currently used across North America is to run an annual reverse auction collecting rates from carriers on each of their freight lanes (origin-destination pairings) and then feeding these rates into the shipper’s transportation management system (TMS), which then uses a routing guide to determine which carrier to tender a load to when a particular shipment materialises. Unfortunately, the routing guide frequently fails. This results in the shipper having to use backup carriers or the spot market, thereby incurring much higher rates. This paper explains why the current dominant design arose in the first place and why it is no longer sufficient. Four promising practices that can improve the transportation procurement process for shippers, carriers and brokers are presented and discussed: Data-driven analysis, transportation portfolio management, dynamic contracting and continuous procurement. These practices are meant to complement the current procurement methods in order to reduce the risk and level of uncertainty for all parties by making the procurement process more dynamic and responsive to the market.
Conducting a full-scale emergency management exercise during COVID-19: A case study of Puyallup Chill Out 2021
Authors: Hofmann Kirstin , Massey Greg
Published: July 2024

The COVID-19 public health emergency severely limited the ability of emergency managers to conduct emergency exercises, particularly at the functional or full-scale level. Throughout the COVID-19 pandemic response, other emergencies continued, and local emergency management was called to respond, ensuring that local guidelines and COVID-19 restrictions were observed. This paper describes how the pandemic impacted on the City of Puyallup’s emergency management training and exercise programme and how the City adapted to conduct a full-scale exercise in the autumn of 2021. Multiple delays, planning partners overwhelmed by COVID-19, and emergencies that occurred prior to the exercise were all addressed and included in the exercise scenario. The City of Puyallup and its planning partners built in contingencies in the run-up to the exercise, all the way through to the day of exercise play. Providing a safe, realistic and timely opportunity for the City of Puyallup and partners to conduct the exercise has resulted in a far-reaching after-action report and improvement plan to guide the preparedness and planning efforts of the City and its partners.
Open banking: The rise of the cloud platform
Authors: Farrow Gary S.D.
Published: July 2024

This paper explores how traditional banking system architectures will be affected by the emergence of open banking. Platform models for open banking are proposed that accommodate both supply and demand-side solutions. On the demand side, the network effects of open banking platforms and their limitations are discussed. Using a feedback model of platform behaviour, it is suggested that the long-term success of open banking can be directly coupled to the emergence of such platforms and their regulatory scope. To inform the architectures to support open banking, the unique transactional characteristics of open banking solutions are determined. The essential role of cloud technologies in meeting these characteristics and hence the propensity for their use in the implementation of open banking platforms is illustrated. Specific types of open banking platforms are then described in terms of their essential architectural components and collaborations. The benefits to account servicing payment service providers and to third-party providers in adopting such open banking platforms are highlighted.
Utilities in capital markets: New frontier for operational transformation
Authors: Ray Arin
Published: July 2024

Cutting costs to boost suboptimal levels of return on equity (RoE) is becoming essential for capital market firms in the current climate of tepid revenue growth and regulatory changes. Fundamental restructuring of operations through adoption of shared service and industry utilities can enable longterm cost reduction. A few financial institutions have been using internal utilities for some time now. The next stage in this evolution is the external utility model, through which banks completely outsource their technology and processes to the utility provider. External utilities are a recent phenomenon seen largely in the last 18 to 24 months. Primarily, the functions that are non-core and non-differentiating for a financial institution are best suited for outsourcing to a utility. The areas that have seen utility-type solutions include mid-back office functions such as post-trade processing, collateral management, reference data management, regulatory reporting and transfer agency service, as well as some front-office activity such as know your customer (KYC) services. While the utility model can offer significant benefits to user institutions, lack of awareness and resistance to change, lack of customisability, difficulties in establishing common governance and frameworks, and regulatory and data security issues could present challenges that may impact adoption of these utilities.
The impact of Minimum Energy Efficiency Standards on dilapidations claims
Authors: Hartley Simon
Published: July 2024

The Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015 (MEES Regulations) were said to be aimed at improving energy efficiency to help England and Wales meet their CO2 reduction targets. Not only do they have the potential to severely affect one’s ability to let premises based on Minimum Energy Efficiency Standards (MEES), but also provide new strategic options with regards to dilapidations and other areas of landlord and tenant dispute. As the MEES Regulations have applied to all new leases for a year, arguments concerning energy enhancements are now part of discussions between landlords and tenants regarding dilapidations at lease end, despite a lack of enforcement action to date. This paper summarises the relevant parts of the MEES Regulations, which rely on the pre-existing Energy Performance Certificate (EPC) regime to determine a property’s energy efficiency standard. The problems of using EPCs as a benchmark are highlighted, as are some potential tactical opportunities for those involved in landlord and tenant disputes. The paper discusses the current and potential impact of the MEES Regulations on the different elements of a commercial lease-end disrepair claim. It also addresses disputes under other tenant covenants concerning the condition of the demised premises, both mid-term and at lease end. Further, it suggests some methods that might be adopted to mitigate the impact of the MEES Regulations on both landlords and tenants.
Understanding common defects in historic masonry
Authors: Paye Adrian
Published: July 2024

This paper advocates an understanding of the causes of failure in historic masonry as the key to a successful conservation programme. Only then can a suitable repair strategy be developed to enhance the long-term and cost-effective performance of an historic facade. This paper is an excerpt from Adrian Paye's forthcoming book, and describes many common causes of failure. Photographs are of recent PAYE contracts.
Critical appraisal of the Basel fundamental review of the trading book regulations
Authors: Orgeldinger J.
Published: July 2024

In its October 2013 consultative paper for a revised market risk framework (Fundamental Review of the Trading Book, FRTB) and subsequent versions published thereafter, the Basel committee suggested new ways of dealing with market risk in banks’ trading and banking books. The Basel committee estimates that the new rules will result in an approximate median capital increase of 22 per cent and a weighted average capital increase of 40 per cent, compared with the current framework. Key changes are found in the internal model approach (IMA), the standard rules and the scope/approval process. Among the significant changes that are being introduced by the FRTB is a stricter separation of the trading book and banking book. Regardless of whether they use standardised or internal models, banks will need to review their portfolios to determine if existing classifications of instruments and desks as trading book or banking book are still applicable or whether a revision of desk structure is needed. In this article, the theoretical foundations of the IMA are explained, which are the stressed expected shortfall, liquidity adjustments, default and migration risk, and non-modellable risk factors. The various approaches for IMA and the introduction of a standardised floor, the sensitivity based approach (SBA) with delta, vega and curvature, shock scenarios and the aggregation with asymmetric correlation and reflection of basis/default risk are elaborated.
Repair and reinstatement: Beware the elephant trap
Authors: Fetherstonhaugh Guy
Published: July 2024

Landlords whose tenants are shortly to vacate dilapidated premises will wish to throw the book at them — the book in this case being a lengthy schedule of dilapidations containing lists of every breach of covenant going, and then some. The question this article addresses is whether such landlords are wise to require their tenants to reinstate alterations carried out during the term, and then to include the failure to reinstate as part of the list of breaches in the schedule. In some cases, this will undoubtedly be the correct course, but in others it may have the effect of negating the landlord's damages claim entirely. Surveyors for both parties should be alert to this point if they are to produce competent advice to their clients.
Protection of office buildings and spaces: A balanced approach to perception of terrorism risk in the common workspace
Authors: Meyerhoff Donald
Published: July 2024

The scholarly literature regarding soft target terrorism indicates a likely shift from acts of terror against hardened targets to attacks against easier, softer targets. Office buildings and spaces, by their often open and inviting nature and capacity to house large numbers of people, fit within the commonly accepted model of soft targets. They are also designated by the US Department of Homeland Security as components of critical infrastructure. The literature, however, identifies very little terrorist threat in the ordinary work environment. To better understand the history of and potential for future attacks in the office environment, this article examines frequency-based terrorist attack data from 1990 to 2017, from the Global Terrorism Database, along with contemporary attack trend data from government reports and relevant journal articles. The article also discusses how the reporting of such events impacts on the public. Finally, the article recommends an objective and comprehensive forward-looking approach to understand the level of risk, which embraces not only historical data but ongoing intelligence, assessment and analysis.
Closing the skills gap: Finding skilled analytics professionals for a dynamically changing data-driven environment
Authors: D’Auria Stanton Angela , Stanton Wilbur W.
Published: July 2024

This paper presents a comprehensive assessment of the challenges companies face when attempting to fill an analytics position. It begins with an overview of the data proliferation context in which most companies find themselves when seeking analytics professionals. The study then analyses a sample of 191,276 analytics positions advertised on LinkedIn. The authors describe the demand for various types of analytics professionals and compare four of the most highly sought-after roles, namely, data scientist, marketing analytics, business analytics and data science professionals. Content analysis of position descriptions and job requirements is used to determine any similarities in competencies within each of the three categories of skill set (ie hard skills, soft skills and credentials) specified by employers seeking analytics professionals. Among the similarities is the growing acknowledgment that data analytics applied to large and complex datasets requires a new breed of employee — an employee who is fully grounded in a business domain, but who also has a breadth of analytical and personal skills. The paper then assesses the challenges that organisations face when recruiting employees with the desired skills. Finally, the paper presents emerging and creative methods for recruiting analytics talent in a very complex and dynamically changing environment.
Bad apples, rotten barrels and rebuilding trust in financial markets
Authors: Yallop Mark
Published: July 2024

The manipulation of wholesale markets revealed in the aftermath of the global financial crisis is nothing new, but rather the latest manifestation of a phenomenon that has existed throughout the era of modern capital markets. This paper examines the scale of the problem and its fundamental root causes, both those created by structural, environmental factors and the personal motivations of the individuals involved. It discusses the serious limitations in using regulation and legislative measures to cure the problem and an alternative, global standards based approach being attempted by the Fixed Income Currencies and Commodities Market Standards Board.
Planning for a change: Transforming the fundraising capacity of the university in partnership with the development foundation
Authors: Perry Daniel , Breier Barbara
Published: July 2024

In 2017, the Texas State University Development Foundation board of trustees approved an ambitious plan to significantly change its relationship to the university and invest in the fundraising capacity of the university. The engagement of the board in the strategic vision of the university led the board to initiate a strategic planning effort to align the foundation’s resources in support of university goals. This paper details the process that led to and facilitated that change.
Scaling cyber physical systems throughout the organisation
Authors: Leipnik Matt
Published: July 2024

This paper outlines a realistic and practical examination regarding the considerations and factors in scaling complex cyber physical systems alongside modern digital transformation: a guide for how businesses can strategically and operationally navigate (both proactively and reactively) the ‘unknown unknowns’ not just simply to survive but to be resilient and adaptive, leveraging their own internal processes, structures and constraints without significant disruption or radical changes. It is designed to equip the reader with a blend of strategic, operational, technical and human business thinking paired with a concept of ‘visibility’ beyond just situational business awareness. It aims to guide businesses through management of new business trends, ever -standards and compliance requirements, including larger and more complex developments such as 5G operationalisation, geostrategic challenges and political factors that are increasingly important to and unavoidable for businesses. The paper touches on a variety of disciplines and their convergence within business considerations and their integration and scaling within an organisation.
Selling products by selling brand purpose
Authors: Hsu Chung-Kue (Jennifer)
Published: July 2024

This paper reviews the concept and the practice of brand purpose and aims to enhance the understanding of its benefits, and cautions in implementing purpose-driven marketing. It describes what brand purpose is about, why it is important and valuable, how consumer brands are doing it and how it can be done effectively. In practising purpose-driven marketing, brands need to connect their purpose to consumer values and human needs, and pay attention to the ’say’, ’do’ and ’confirm’ messages based on Duncan and Moriarty’s Strategic Consistency Triangle.
Managerial perspectives of fan socialisation strategies for marketing to new NHL fans
Authors: Mastromartino Brandon , Zhang James J. , Wann Daniel L.
Published: July 2024

This paper examines how managers of teams in new or non-traditional sport markets interpret the literature on fan socialisation, identify best practices and formulate strategies to develop new fans and build a larger fan base in the shadow of larger, more established leagues. A qualitative investigation was undertaken, and managers from NHL teams were interviewed to better understand their practices to grow their fan base. Findings revealed that teams had a strong focus on socialising children, lacking in the areas of maintaining fandom after initial socialisation and attracting adult consumers. The findings offer practical implications for fandom sustainability and opportunities to build a bridge between practitioners and academics. Most fan socialisation literature is from the perspective of fans, rarely considering the impact of manager-initiated socialisation strategies. This paper adds to fan socialisation literature by highlighting the perspective of sport managers and provides directions for future quantitative studies.
Improving the passenger experience by providing targeted information to passengers
Authors: Kontogiannis Christof T.
Published: July 2024

This paper focuses on the importance of the passenger experience at airports and the role of targeted and controlled information in improving this experience. Satisfied passengers not only return, but also make positive recommendations, which in turn has an impact on non-aviation-related revenues. The amount of available information for passengers can be enormous, which can lead to stress, but is also important for their journey and thus for their airport experience. Therefore, targeted information and updates play a crucial role in making the journey from arrival to departure seamless and enjoyable. The paper emphasises that better-informed passengers are less stressed, highlighting the need for targeted information. Modern technologies enable airports to establish direct communication channels with their passengers and integrate targeted and controlled updates into these platforms to not only provide important information, but also to respond to individual needs and requests, thus personalising the passenger experience. Furthermore, the importance of targeted and controlled information at various points in airport operations is highlighted, such as in general terminal areas, security checks and border controls. Adjusting the volume and content of announcements to the specific situation can provide passengers with a more pleasant experience. Additionally, the implementation of modern technologies, proactive communication and continuous development are crucial to providing a seamless, personalised and enjoyable experience.
Building an effective compliance risk assessment programme for a financial institution
Authors: Nicolas Stephanie , May Paul V.
Published: July 2024

A Compliance Risk Assessment programme can be a meaningful, utilitarian and genuinely beneficial risk identification and management tool. This paper outlines some key elements and practical considerations for conducting a CRA. By better identifying compliance risks and managing the drivers of these risks and behaviour, a CRA not only helps firms to reduce the occurrence of conduct events, but also enhances the way that firms do business.
Metadata management in the entertainment industry: A case study from the studio perspective
Authors: Yasgur Jr
Published: July 2024

A studio’s assets, the audio-visual representations of intellectual property, are the studio’s primary revenue source. Efficient monetisation of these assets is essential for profitability in a competitive marketplace. Metadata are the lynchpin of business intelligence and asset management. Definitive ownership of such metadata, with standards and governance recognised by all stakeholders throughout the content life cycle, is a critical issue facing organisations today. The prevalence of evolving technology, the rapid introduction of new platforms, the globalisation of the marketplace and the seemingly unquenchable demand for more content is resulting in extraordinary business and operations complexities.
Bribery Act: Essential legal compliance for property professionals
Authors: Le Anthony
Published: July 2024

With an increasing appetite for prosecutions, the landscape of anti-corruption and bribery legislation is evolving. All property companies are now strongly advised to devise and implement adequate procedures to prevent bribery. In February 2018, we saw the first corporate conviction for failing to prevent bribery. It is likely that this could prompt further convictions for corporate offenders. The definition of a ‘corporate offence’ is broad and involves an ‘associated person’ from the commercial organisation, which could be an employee, agent, subcontractor or subsidiaries. Property professionals are particularly vulnerable to the risk of exposure to bribery through facilitating transactions, exposure to improper influence on valuations, planning decisions and the buying and selling of criminal property. This paper sets out the legislative framework for property professionals, explaining compliance with the Bribery Act 2010 and the penalties.
In search of hidden treasure: Finding funds for building upgrades
Authors: Porter Allison
Published: July 2024

Lack of capital is the chief obstacle building owners cite to investing in energy efficiency and other smart building upgrades. They are often surprised to learn that many organisations — ranging from local utility companies to charit able foundations — offer money, technical assistance and financing to get projects completed. This paper identifies alternative funding sources for efficiency projects in the USA (and, in some cases, Canada) and explains how to access them.
Regulatory sandboxes as a support tool for financial innovations
Authors: Dostov Victor , Shoust Pavel , Ryabkova Ekaterina
Published: July 2024

This paper presents an analysis of the global approaches to the creation of regulatory sandboxes, that is ‘safe spaces’ where businesses can test their innovative products and services in a live environment without risks of breaching financial regulations. The authors present the cases of the United Kingdom, Australia, Singapore and the United Arab Emirates.
Marketing for Magis: How Jesuit colleges and universities chose collaboration over competition
Authors: Howes Spiro Deanna , Puto Christopher P. , Hayes Tom
Published: July 2024

For years, Jesuit colleges and universities in the United States avoided joint marketing or branding; in spite of their common mission and heritage, the institutions have long faced competition for students with similar academic profiles from common geographic regions. But in 2015, the institutions overcame their differences to launch a joint national marketing campaign that capitalised on Pope Francis’ first visit to the United States. As the first Jesuit leader of the Catholic Church, Pope Francis is viewed by many as a transformational figure, whose leadership style is influenced by his Jesuit education. The offices of marketing and communication for US Jesuit colleges and universities saw the visit as an opportunity to show how they all offer the same kind of education that has made Pope Francis so effective as a leader, and did so by encouraging prospective students to visit a common microsite to learn about all their schools. Working together with the Association of Jesuit Colleges and Universities, they launched a month-long national campaign that drew public exposure and garnered visits to every single one of their homepages through the microsite. The success of this campaign led to two more campaigns in 2018: a jointly-funded promotional video for Jesuit higher education and a social media campaign in support of Loyola University Chicago’s men’s basketball team’s appearance in the Final Four round of the 2018 NCAA Men’s Basketball Tournament. In an era of shrinking state and federal support for education (and smaller numbers of traditional-aged students), Jesuit schools have found ways to overcome competition and work together in pursuit of the same shared goal: helping new students understand and appreciate the value of a Jesuit higher education.
Addressing counterparty risk: Hedge funds and the need for rigorous due diligence
Authors: Lewin Marina , Todd Jeremy
Published: July 2024

This paper examines the counterparty risks currently being faced by hedge funds and suggests specific actions that can be taken to mitigate such risks. It presents findings from an independent study: Risk and Reward: Hedge Funds Changing Views on Counterparty Relationships, published by Pershing LLC, a subsidiary of BNY Mellon. The paper examines counterparty risk from the hedge fund manager's perspective and its implications for sound business management. The findings in this study are based on a survey of 23 global hedge funds conducted by the Aite Group, an independent research and advisory firm, in the summer of 2008. Drawing on the experiences and insights of leading hedge fund managers in the current volatile economic environment, this study provides a framework to consider when addressing and mitigating counterparty risk.
Plan, implement and institutionalise: The three phases of a supply chain resiliency programme that can deliver robust ROI
Authors: Vakil Bindiya
Published: July 2024

The paper describes the three-phase journey to a mature, resilient-stage supply chain resiliency programme (SCRP) that can deliver return-on-investment (ROI) of as much as US$15m per US$1bn in annual sales. Written for supply chain professionals with varying levels of experience, the paper outlines the core elements of the three phases: plan, implement and institutionalise. Key tasks in the plan phase include developing the business case, estimating ROI, overcoming objections, creating service agreements with internal customers, defining metrics and building a team and governance structure. Implementation builds on four core services essential to building a resilient supply chain: risk intelligence, risk monitoring and response, risk analysis and risk treatment. Institutionalising an SCRP requires continuous education and change management by the core supply chain team and can ultimately yield far-reaching results such as integrating resiliency into new product design and achieving significantly enhanced brand value.
The evolution of digital banking
Authors: De Venn Peter-Jan Van
Published: July 2024

Since the 1980s the banking industry has been through a process of digitalisation across the retail, small and medium-sized enterprise (SME), corporate and wealth management lines of business. Over the past decade, the process of digital transformation has accelerated as banks have responded to new competition from digital-first challenger banks and disruptive start-ups that offer a personalised customer experience. This paper provides an overview of some of the important periods of digital transformation within the banking sector, focusing on changes to banking channels, business lines, technologies, personalisation capabilities and product lines. In addition to charting some of the progress made to date, this paper also looks ahead at what may come next in the story of digital banking, including the introduction onboarding of new digital channels such as wearables, the transformation of core banking and the move by banks into adjacent sectors that leverage digital technologies.
The impact of migration and digitisation on global remittance volumes and socioeconomic development
Authors: Shah Sachin
Published: July 2024

This paper studies the impact of migration and digitisation on global remittance volumes. It finds that changes in migration trends are not only improving the financial status of the families affected but also positively affecting the flow of income for some low and middle-income countries, contributing significantly to their gross domestic product, and thus providing them with more money to spend on social infrastructure. At the same time, increasing digitisation within the remittance industry is driving greater efficiency and thus reducing the cost of remittance and, in turn, reducing reliance on traditional and less efficient information-based remittance approaches, such as hawala. The paper uses both graphical analysis and regression analysis to illustrate the economic impact of migration trends and technological innovation in the remittance sector. Looking to the future, the paper predicts exciting times for the remittance industry due to further shifts in migration patterns and the adoption of new digital technologies, such as distributed ledger technology and blockchain. The paper calls for more opportunities for similar investigations as well as studies into how factors such as stringent implementation and the enforcement of financial crime regulation and policy frameworks by governments have a bearing on the growth of the remittance industry.
Integrating user research into an agile project at NHS Digital: A case study
Authors: Duda Sabrina , Chearman Tim
Published: July 2024

This article discusses how user experience (UX) research can be integrated into agile projects, giving special attention to remote research methods. Using a case study about the National Health Service (NHS) Data Security Centre, the article shows how UX research can be successfully applied in a fast-paced project. The case study describes how by working together in a cross-functional team, client (NHS) and supplier (Valtech) employees, designed, user-tested and developed a new website for the NHS Data Security Centre in just seven weeks, to include a new homepage, a suggestion for a new information architecture, and a new concept, layout and content for several further pages. Special challenges included a distributed team and the advent of the coronavirus, which meant recruiting users for research became more difficult.
How to get your board and executive team cyber-ready and achieve a culture of cyber security from the board down: The CEO Method™ for breach prevention
Authors: Cetnarski Andrzej
Published: July 2024

Most boards and executive teams do not know how to achieve a culture of cyber security in their organisations, which puts company assets and ROI at risk. Many also do not know how to behave securely in all areas of their lives, much less what their role in driving the cyber security strategy of their organisation is or should be, which further drives up the risk. Given that culture always starts at the top, this paper teaches CEOs, board chairs, their CISOs, as well as other board directors, C-suite executives and their Investors, the CEO-driven yet decentralised, board-down method for breach prevention, getting all board directors and C-Suite executives cyber-ready to execute their part and creating a culture of cyber security from the board down, thus also helping organisations alleviate the pressure on CISOs as the focal point of creating and sustaining cultures of cyber security and serving as an indispensable complement to CISOs’ work of cyber-securing the IT and OT infrastructure of organisations. This method, called The CEO Method™, was invented by global tech and defence investment banker, entrepreneur, US Congressional adviser, Wharton and Harvard alum Andrzej Cetnarski, Chairman, CEO and Founder of Cyber Nation Central®, global cyber security protocol education, insights and advisory company dedicated to creating cyber-secure-by-design boards, executive teams and organisations. Cetnarski invented The CEO Method™ and its protocol process in response to a fatal breach of his first venture, where even the most cyber-secure technology and best-performing CTO were not able to prevent a breach caused by lack of understanding by the board, C-suite and blue-chip investors of what a true culture of cyber security entailed, allowing the threat actors to take advantage of the still-very-typical-of-boards-and-investors-today gap in cyber security knowledge and awareness, further exacerbated by a still-CISO-centric approach to cyber security. In so doing, this paper also teaches its readers the process for bridging the widening gap between CISO, regulatory compliance and technology as ‘the answer’ versus actual hacker-deterrent cultures of decentralised cyber security, individual ownership of cyber-specific fiduciary roles and tactical responsibilities, ‘partnership with’ instead of ‘over-reliance on’ the CISO and mastery of individual risk and response, individual cyber security and organisational cyber-strategy and each board director’s and executive’s role in it. This paper covers the answers to ‘Why and how should CEOs, board chairs and CISOs treat breach prevention readiness differently than they are now?’, ‘Why and how is the core concept of cyber security different than what most boards and C-suites think it Is?’ and ‘What do boards and C-suites need to be doing differently to close the gap between the 37.5 per cent chance of breach and US$10mm average cost of breach and actual breach deterrence?’
Rights management: A focused approach
Authors: Earley Seth , Macrae Robin
Published: July 2024

At the recent Canada 3.0 media, entertainment and technology conference in Toronto, representatives of stakeholders in the media industry met to discuss issues around rights management. The consensus was that a number of business, market and technology challenges are driving interest in standardisation efforts. This paper draws on the insights and expertise of participants in these sessions to describe challenges of rights management and to discuss approaches to the development and use of standards. The primary sponsors of the efforts are in the USA and Canada and so the scope is North American.
Framing cyber security as a business risk
Authors: Wheeler Evan
Published: July 2024

The information security industry struggles to get its programmes on the enterprise stage. When an organisation has a public breach, we are quick to criticise both the CISO and executive management. Is it that management ‘just doesn’t get it’, or is the problem that we’re still not presenting in a way that resonates with the business? We can learn a lot from other risk disciplines, how they organise risk scenarios and the techniques that they use. Mature organisations rely on risk profiles, the RCSA, stress testing, control testing and the analysis of loss events to understand their risk exposure. If you want your information risk programme to be taken seriously by the business, you have to do more than just throwing around a few business terms — you need to embrace enterprise risk techniques. Structuring a cyber security programme and assessment approach similar to other risk stripes not only provides credibility, but also allows the organisation to normalise risks across domains. By adopting taxonomies that are ERM-friendly, embracing the idea of a quantifiable loss event, and helping to translate impact and frequency factors into IT terms, you will see a great improvement in business engagement and ensure that cyber security concerns receive the right focus.
Current perspectives on data protection in Italy
Authors: Muscatella Donato La
Published: July 2024

The paper is aimed at privacy professionals with an in-depth knowledge of issues related to data protection and an interest in the Italian perspective on the topic. After briefly analysing the current institutional approach to the most significant concerns in the area of privacy policies, this contribution will provide a general overview of the current legal framework from the European level up to the domestic setting, also referring to the most significant decisions adopted by the Court of Cassation, the Italian Supreme Court. The study will reflect on the implications that such a legal background could have for current trends and will attempt to predict future developments — or criticalities — in the Italian data protection system.
Single Euro Payments Area: Is Europe's card business making the major changes that were widely predicted or is the whole initiative going flat?
Authors: Chaplin John
Published: July 2024

When the Single Euro Payments Area (SEPA) initiative started back in 2002, lofty ambitions and objectives were voiced by many people, although in private there were a number of industry players who hoped it would be a short-lived fascination and that normal service could quickly be resumed. Six years on, and with the first migration date of January 2008 already behind us, headlines are starting to appear in various media outlets suggesting that SEPA is failing to deliver. This paper looks behind the headlines and analyse the real state of SEPA's health, especially as regards its effects on the payment card business. It discusses the background to the SEPA initiative, highlighting the key strategic targets agreed upon and the intended consequences of implementation; the realities that have dawned as the process of implementation has begun; the evidence of measurable progress; and the potential for positive future outcomes. It concludes by offering a frank, though ultimately positive assessment of the prospects for SEPA in the short and medium term.
MiFIR review: The right balance
Authors: Bassi Ugo , Rookhuijzen Martijn
Published: July 2024

Trading in shares in the European Union (EU) is fragmented across a large number of execution venues applying varying degrees of transparency. The review of the Markets in Financial Instruments Regulation (MiFIR) aims at creating the right conditions for the establishment of an entity, the consolidated tape provider, that provides a consolidated picture of core trading data to the market. Co-legislators principally disagreed on whether or not such a consolidated picture should include close to real-time data on prices and volumes on all pre-trade transparent trading venues (pre-trade data). Authors argue that important use-cases require the inclusion of pre-trade data and that the provisional political agreement reached on 29th June rightly recognises this. The review of MiFIR also includes amendments to the conditions under which individual execution venues are required to publish such pre-trade data. While there are good reasons for allowing ‘dark trading’, too much dark trading could harm the quality of price formation for shares. There is no strong evidence that the ‘volume cap’ which caps certain variants of dark trading has positive effects. The authors argue in this paper that a holistic and data-based approach to capping dark trading can contribute to the quality of price formation for shares. The consolidated tape will provide relevant data for such an approach.
Attribution done right: How to prove the real value of marketing
Authors: Oloyede Moni
Published: July 2024

Marketing attribution models are used by businesses to keep the marketing department accountable for the expenditure and the resources they use, as marketing is often seen as a cost centre within many organisations. Marketers implement marketing attribution models for two purposes. Firstly, to justify the money spent on marketing campaigns and activities, and secondly, to identify which marketing channels and tactics produce the desired results or outcomes. However, marketing departments continually struggle to use marketing attribution models to justify expenditure or show results. The most common reasons many marketers struggle to implement attribution models are issues with data integrity, lack of knowledge around how to effectively use marketing attribution tools and the sheer complexity of the buyer's journey. In this paper, it is argued that the actual problem lies in how marketers perceive the use of attribution reporting. Furthermore, it is posited that those reasons are just symptoms of a larger problem with marketers' approach to marketing attribution. If marketers want to use attribution successfully then they need to change the purpose of their attribution models to focus on customer metrics and not business outcomes. Nearly all marketing attribution focuses on return on investment as a desired outcome; however ROI is a business outcome, not a customer metric. Focusing on customer metrics such as brand awareness, brand engagement and churn rate will provide marketers with the informed outcomes they desire. The ability to gain insight from an attribution model comes from establishing the goal of the attribution model and then aligning the proper marketing metrics to the desired outcome.