bluuebunny/crossref_metadata_2025 huggingface dataset:
Strategic relationship agreements: Better returns through better relationships
Authors: Hickey Thomas A. , Calabrese Michael P.
Published: July 2024

Institutional investors increasingly seek the ability to access a diversity of investment manager products as well as the ability to move swiftly among those products to maximise risk-adjusted returns as market conditions change. Yet larger investors, like public pension funds, that might have the most ability to dictate terms and access tend to have slow, onerous governance structures, hampering their ability to make optimal use of the clout that their size and prestige might otherwise allow. This paper will explore an innovative contractual relationship that can provide such investors with favourable economic terms as well as agility to move across a broad spectrum of a manager’s products and capabilities. These Strategic Relationship Agreements (SRAs) also provide the manager with easier, quicker access to the investor’s capital, and enhanced ability to meet the precise needs of the investor, in the moment. An SRA is not for every investor. Nor is it for every manager relationship, even for those investors who choose to employ SRAs. But it can be used to great effect when the conditions are right and when implemented properly. This paper will explore the history of SRAs — why and how they have been used — as well as the key factors that may make an SRA the right vehicle for an investormanager relationship, and the indispensable elements that allow an SRA to work as designed. The authors recommend that large, sophisticated investors strongly — but carefully — consider SRAs to help them meet their goals and needs.
Bridging the brand content divide: The cross-departmental collaboration that created institutional best practice and a high-performing website
Authors: Mishler Jeremy , Hazen Eric
Published: July 2024

This paper analyses how Ferris State University unified two rival teams to rebuild their College of Business's web presence, create a model for cross-departmental collaboration and innovation and grow the college's web traffic and conversions for the first time in more than seven years. Learn how the College of Business and the university's Advancement and Marketing team came together in the face of enrolment declines to rebrand and rebuild their prospective students’ online experience and improve their conversion rate. While the authors discuss the best practices they utilised to develop the site, this paper focuses on how these two teams navigated previous conflicts and leveraged the unique expertise of both teams to create something neither was capable of on their own.
Improving urban regeneration in the UK: Lessons from the developing world
Authors: Heffron Raphael J. , Haynes Paul
Published: July 2024

In assessing lessons to be learned from best practice in policy making and legislation, the trajectory is generally concerned with the way the developing world can ‘catch up’ with the practices or frameworks implemented within advanced developed economies. This paper considers the lessons that the UK can learn from urban renewal and regeneration projects undertaken in the ‘majority world’ countries of the Global South. The paper assesses the state of urban regeneration policy and legislation in the UK and presents a number of lessons that have emerged from different case studies of urban regeneration in a range of developing countries which could be applied to this UK urban renewal context to enable the achievement of beneficial outcomes.
CVA wrong way risk multiplier decomposition and efficient CVA curve
Authors: Pang Tao , Chen Wei , Li Le
Published: July 2024

Credit value adjustment (CVA) is an adjustment added to the fair value of an over-thecounter trade due to the counterparty risk. When the exposure to the counterparty changes in the same direction as the counterparty default risk the so-called wrong-way-risk (WWR) must be taken into account. Calculating CVA with WWR has been a computationally challenging task, especially because it has to be done frequently. In this paper, we start with the fact that the ratio of CVA with WWR to CVA under the independent exposure and default assumption depends on the means and standard deviations of exposure and default probability and their linear correlation. The CVA WWR ratio is then decomposed into two factors, a robust correlation and a profile multiplier with further economic insight into the CVA WWR ratio. The distribution free approach in this paper entails an efficient algorithm of curve-based CVA WWR calculation. A numerical study illustrates the algorithm and its benefits.
Reviving securitisation in the EU: A critical analysis of the reporting requirements
Authors: Hauet Olivia
Published: July 2024

The EU Securitisation Regulation (SECR) came into force in 2018, applying to securitisations issued after 1st January, 2019 and to eligible legacy securitisations. This is a cornerstone of the Capitals Market Union (CMU), which, together with the amendment of the Capital Requirements Regulation (CRR), aims at reviving the European securitisation market. By introducing a robust and harmonised framework, the regulator intends to resolve the following conundrum: how to relaunch the securitisation market, which is essential for financing the economy, while mitigating its vulnerabilities and the stigma associated with it? More specifically, the CRR amendment contains the calibration of capital requirements in accordance with the updated hierarchy of methods while the SECR defines the criteria for securitisations to qualify as ‘simple, transparent and standardised’ (STS). The SECR also sets common rules for the due diligence obligations of institutional investors, regardless of the sector to which they belong. An intrinsic (although not specific) problem with securitisation is the question of asymmetry of information, since investors have access to less information about the loans backing the tranches than lenders involved in their origination. Article 7 of the SECR addresses this issue by defining high standards to transparency requirements using a very granular reporting method. While market participants recognise the necessity of fostering transparency and due diligence to increase confidence in the market, the current reporting framework, because of the burden it represents, may discourage potential investors and originators. This paper provides a thorough overview of the reporting obligations set on credit institutions in the context of securitisation. It demonstrates how the lack of integration and proportionality combined with technical limitations perpetuates regulatory fragmentation and associated high costs. It proposes potential solutions to integrate requirements from various sources into a unified model and concludes with the necessity to improve the governance of reporting and data requirements at a European level.
Open banking experiences set the stage for Open X
Authors: Ghanem Elias
Published: July 2024

As open banking regulations encouraged established firms to collaborate with FinTech newcomers as solution partners, the banking ecosystem became more convenient for customers through greater transparency in data exchange. Now an emphasis on delivering experiences versus only products is driving banks to focus on the entire customer journey and touchpoints in customers’ daily lives. Within this evolving banking ecosystem, data is becoming a critical asset, with front runners holding and storing information while also using it strategically to inform business decisions, create value and unlock revenue. Collaboration with financial services (FS) has become commonplace as firms pursue new capabilities by working with best-fit partners versus building or buying new resources — a shift that allows them to innovate without losing the focus on essential activities. As ecosystem partnerships promote shared access versus complete ownership, banks and other players will be able to refine their products, adopt offerings from across ecosystems and create new sources of revenue. This paper demonstrates how the inevitable new FS era, Open X, will feature a shared marketplace with a seamless exchange of resources, improved experiences for customers and others and expedited product innovation to create a winning go-to-market platform for all ecosystem participants.
Reduce complexity, increase productivity, recover control, drive innovation: Four steps to profitability
Authors: Soppa Tobias
Published: July 2024

Faster, better, more — the technological advances of the last decade make more and more possible and also lead to higher and higher requirements, which lead inevitably to more complex production processes. Nothing other than workflow management can reverse this trend. Therefore, hardly any other buzzword is so popular — and misused. This paper gives information based on real media projects for companies such as Sony, Time Warner, A+E Networks, Red Bull, ARD, etc to show what intelligent workflows are truly capable of and how other ‘hyped-up’ topics such as BPM/SCM, MAM/DAM, SOA/EAI, FIMS/BXF etc all fit into a simple and consistent overall picture.
The potential of private labels in agricultural markets: An exploratory study
Authors: Gilboa Shaked , Herstein Ram , Gamliel Eyal
Published: July 2024

Purpose — Private brands have not yet been studied in the agricultural products market. The aim of this exploratory study is to assess the potential of private brands in the agricultural market by examining agricultural consumers’ attitudes towards private brands and factors that influence their buying decisions.Design/methodology — Data were collected through a quantitative survey with two independent samples — one sample of 150 farmers and one of 288 household consumers. Fifty members of each group also participated in an in-depth qualitative interview.Findings — The quantitative results show that agriculture consumers are more attuned to intrinsic factors (quality and price), while household consumers are more attuned to extrinsic factors (package, shelf space, brand name) when deciding which brand to buy. Cluster analysis found two groups of agricultural consumers, differing in the importance they ascribe to extrinsic factors in their buying decisions. The qualitative findings show that among agricultural consumers, the decision to purchase private brands is heavily influenced by recommendations from salespeople.Originality/value — This research offers marketers insights into the potential of private labels among agricultural consumers.Practical implications — The results show that private brands in agriculture have the potential to acquire a considerable market share. It is suggested that retailers and manufacturers stress the quality and attractive prices of private brands. In addition, it is suggested that marketing strategies focus on salespeople as useful mediators between producers and farmers.
Moving from the supply chain to the digital supply network
Authors: Richard Chris , Kusters Jeroen
Published: July 2024

Real-time, digital information has become critical to the success of both today’s 24/7, business-to-consumer (B2C) and business-to-business (B2B) operations, and to their suppliers, manufacturers and partners. Traditionally, companies have operated supply chains with a linear, sequential paradigm, following a model made popular and accessible by the Supply Chain Operations Reference (SCOR) model. Digital technology capabilities such as artificial intelligence (AI), Internet of Things (IoT), machine learning, robotics, additive manufacturing and advanced analytics are not only driving changes to the SCOR standard, but are also raising a new set of questions regarding the nature and relationship of more complex and tightly integrated supply networks. These dynamic, interconnected systems concurrently plan, execute and enable digital supply ‘chains’ — we refer to this next generation model as a digital supply network (DSN). This paper lays the foundation for this transformational journey, by introducing key disruptions that are enabling organisations to move beyond the limitations of traditional supply chains and explaining the core characteristics of DSNs. With the intent of providing a voice of leadership as supply networks become more digital, Deloitte Consulting and the Association of Supply Chain Management will release an initial version of the DSN Capability Model in September 2019 to provide an overview of DSNs. In subsequent releases, we will expand the body of knowledge, helping organisations to understand and build digitally enabled operational capabilities.
The implementation of the G20 mandate in the EU: Will financial markets be safer than five years ago?
Authors: Plata Rafael
Published: July 2024

As a result of the role played by over-the-counter (OTC) derivatives during the financial crisis, more than four years ago the G20 agreed to reform this market to make it safer, more efficient and more transparent. This paper analyses the degree of implementation of the G20 mandate in the European Union, with a side look at the USA. It raises some key issues that will have to be considered if the G20 mandate is to be fully implemented.
North American airline incentives: Best practices and emerging trends
Authors: Weatherill C. John
Published: July 2024

Industry economics have led airports to the increased provision of generous new route incentives to airlines in North America. However, many incentive programmes do not accomplish their goal of securing long-term viable air service. This paper contends that airports and communities should consider airline incentives in the context of a comprehensive air service development programme, to ensure that incentives are used to meet the strategic needs of the community. The paper discusses best practices for evaluating and implementing airline incentives within the North American regulatory environment. Key among these is quantitative market research and route analysis, required to determine whether incentives are appropriate for a specific air service, and to establish the level at which they should be offered. Emerging trends in North America point to larger incentive amounts, but increasing government intervention. Due to budget and/or regulatory constraints, financial incentives will not be possible in many circumstances. As a result, air service development practitioners must be aware of alternative methods of reducing carrier risk when initiating new routes.
A net present value model with application to target marketing
Authors: Qu Jingjing , Chen Yumin
Published: July 2024

The net present value (NPV) model extends the traditional response model by explicitly modelling the churn or attrition probability of customers. It has become powerful marketing tool that helps with targeting loyal customers rather than transient customers. It can be used in various industries such as insurance, telecommunications and magazine subscriptions, where persistency plays a big role in marketing effi ciency and revenue. The comparison results of the traditional paid response model and the NPV model illustrate the advantage of the NPV model in acquiring longer persistency customers and generating higher net profi t.
Permitted development for new homes and householder extensions under the reissued General Permitted Development Order
Authors: Bevan David
Published: July 2024

Since the National Planning Policy Framework was published in 2012 the Government has been consistent in its approach to getting the country building and stimulating the economy. After 20 years the General Permitted Development Order was consolidated and reissued in 2015 and this could represent an entire shift in the focus for planning applications and new development in the future. The paper explains the basic provisions of Permitted Development in the form of householder extensions, before looking at the headline-grabbing Prior Approval, including the conversion of offices and agricultural buildings to new homes. The process is however not as straight forward as it first seems and within the provisions of the order there are a number of considerations that can stall a seemingly simple development from being passed. The paper concludes that the scope and potential of the legislation could be a game changer in the future. Although it would take a brave Government to introduce it, the notion of ‘Have Life Flexibility’ is one that this paper ends with, setting out a hypothetical scenario whereby new homes and entire housing estates could be, one day, allowed under Permitted Development.
Card schemes in Europe: Consolidation or proliferation?
Authors: Verbeek Ernst
Published: July 2024

Although the Single Euro Payments Area (SEPA) will bring about consolidation in the payments industry in Europe in general, this does not apply to the number of payment schemes. There are nearly as many payment card schemes as there are countries in Europe. But it is not a foregone conclusion that these are likely to disappear and be replaced by two or three pan-European schemes. Some card schemes will undoubtedly disappear, but at the same time there are many contenders, both new and existing, with the will and the resources to become meaningful players in the European payments landscape. Their proliferation is being reinforced by a tendency of both the card issuer and the card acquirer sides to broaden the portfolio of brands on offer to cardholders and merchants, respectively. At the same time, card payment schemes will undergo a paradigm shift as non-card payment instruments converge with card payment systems to create hybrid networks.
The impact of remote workers on crisis, risk and business continuity management
Authors: Rodman Andreas
Published: July 2024

Since the outbreak of COVID-19, the number of employees working from home has increased exponentially. This paper discusses how this shift to remote working has affected enterprise risk management, business continuity management and crisis management over the last couple of years, along with tips, software tools and processes to help manage this impact. The paper also identifies the key functionality required from pertinent software tools, discusses the effects and primary issues associated with such tools, and provides examples of how these tools have been implemented in practice.
Engage with empathy: Improving customer experience with artificial intelligence
Authors: Dezao Tara
Published: July 2024

Change is inevitable, and sometimes transformation happens gradually. At other times, as the global pandemic showed us, it happens without warning. Either way, traditional marketing tactics have no place in modern customer experiences (CX). So how can brands build trust and develop deeper relationships through ever-changing sentiment or market conditions? They need to show customers that they understand their unique situation and can provide tangible value. Marketing and customer engagement practitioners can achieve true one-to-one engagement with artificial intelligence (AI)-powered, ‘always-on’ models that continuously engage customers during calculated ‘moments of need’. Legacy marketing techniques will no longer be sustainable in a rapidly evolving business landscape riddled with data constraints, regulatory challenges and labour shortages. Organisations need to move away from data silos and channel-specific strategies and instead rely on a single ‘brain’ that helps orchestrate engagement with each customer. Brands can survive only by moving beyond sales and mixing additional messages that support retention, service, nurture and resilience actions into their marketing framework; only then can they deliver truly personalised customer experiences across channels while always remaining sensitive to their circumstances.
A risk-based methodology for payment systems oversight
Authors: Norman Ben , Brierley Peter , Gibbard Peter , Mason Andrew , Meldrum Andrew
Published: July 2024

The Bank of England has developed a risk-based methodology to support its oversight of payment systems. The methodology provides more precise estimates of risks in payment systems than previously available. Because it is consistent and systematic in its application, the methodology assists the Bank in focusing its attention and resources — the intensity of oversight — where the level of risk is estimated to be greatest. This paper provides an overview of the framework.
Facility planning in emerging markets
Authors: Rajagopal Renuka
Published: July 2024

The construction industry and its related activities has emerged as one of the largest employment sectors over the last several years in many emerging countries. Many established multinational organisations have set up large-scale operations across major cities in emerging countries. Over the years, established and new organisations continue to explore and move into new emerging cities and nations as part of their ongoing 3–5-year strategic business initiatives. Facility planning and implementation continue to explore, evolve and mature through this journey. This paper explores several universal categories that it is essential to consider when looking at setting up facilities, buying or leasing, new build and operations in new cities.
Shifting the spotlight on mobile payments in emerging markets
Authors: Jain Gautam
Published: July 2024

This paper describes the rising trend of mobile payments in emerging markets and its applicable use by organisation in cash payables and receivables. Examples are drawn from the developed markets in order to aid the discussion, and recommendations are given on how organisations can ride this mobile payments trend to embrace this novel way of cash management. The paper goes further, explaining how mobile can be leveraged to enhance customer loyalty and penetrate deeper in the emerging markets in ways that were not possible before.
The Payment Services Directive: Where are the opportunities for new entrants in the European payments industry?
Authors: Van Winkel Erik
Published: July 2024

This paper explores the business opportunities (as opposed to legal compliance requirements) resulting from the implementation of the Payment Services Directive (PSD) in the European Union (EU) and European Economic Area countries as of 1st November, 2009. First, an overview of the most important business implications is given — not always obvious at first reading of the PSD text, and in some cases still under debate by the industry and national/EU legislators as to what the correct interpretation is. An insight is then provided into the types of organisations that are most likely to have an interest in entering the payments industry or, when already present, extending their reach in the value chain, providing some of the payment services covered by the PSD. The paper finally touches upon some of the key outstanding issues to be resolved or clarified, in order to remove any remaining barriers to businesses taking full advantage of the opportunities presented by the PSD.
A Herculean task: Assessing digital content processes before a migration
Authors: Stitzlein Hannah , Gao Sidney , Mil James Van
Published: July 2024

This paper discusses how a re-evaluation of strategies prompted by the combination of personnel and workflows changes and the impending migration from DSpace and Luna repositories to a new Samvera application provided the university of Cincinnati Libraries Digital Content Team with an opportunity to assess and appraise assumed processes and identified several areas that would benefit from an overhaul.
Winning a seat at the ESG table
Authors: Frank Jonny , Barolak Jim , Pieterse Germari
Published: July 2024

Financial Institutions (FIs) struggle to identify, assess and develop appropriate responses that proactively address potential events for more traditional known risks let alone new, emerging and imprecise risks in the often difficult-to-quantify Environmental, Social & Governance (ESG) space. ESG-related risks present even greater challenges to established risk management frameworks such as COSO because ESG risks are generally not well known to the business and include ‘black swans’ or other unforeseen events that can challenge the entities’ short-term or long-term performance or even survival; tend to be longer term in nature than the timeline with which strategy is set or risks have been considered historically; and beyond the scope of any one entity. The good news is that FIs’ existing — and often highly sophisticated risk, compliance and legal functions (Risk Team) — are well equipped to integrate and mitigate these significant ESG-related risks into the FI’s risk management framework. The authors, drawing upon first-hand experience as government-appointed monitors for large, global financial institutions, provide a practical roadmap for defining and mapping ESG-related risks. They also explain why Chief Risk Officers, Chief Compliance Officers and Chief Legal Officers must seize this unique opportunity to not only avoid the financial, legal, regulatory, and reputational losses that will inevitably follow without an ESG risk management programme — but also enhance the value the Risk Team delivers as ESG priorities become pervasive across FIs worldwide. Acknowledging that sustainability and/or ESG professionals are uniquely qualified to provide critical guidance defining and communicating the FI’s objectives, the authors provide a proven framework and methodology for compliance and risk practitioners to leverage as they reach across the aisle to their counterparts in Sustainability or Corporate Social Responsibility to elevate the ESG risk conversation and their own visibility.
Communication and collaboration between chief data officers and chief marketing officers
Authors: Earley Seth
Published: July 2024

To deliver a seamless, personalised customer experience, marketers require high-quality, complete and accurate data. In practice, however, data are frequently dispersed throughout the enterprise, locked away in siloed applications, in inconsistent formats or of poor quality. Ownership is not centralised, making it very difficult to remedy the situation and unlock the full potential of state-of-the-art industry tools and technologies. The magnitude of the challenge is beyond the scope and capabilities of the chief information officer. For this reason, some organisations have created a new role: the chief data officer (CDO). This paper explores a number of issues including the role of the CDO, the responsibility of the CDO compared with that of the chief information officer or chief digital officer, how organisational data maturity correlates to use of the CDO, how the chief marketing officer (CMO) has yet to leverage this new function, the challenges associated with such a collaboration and how various organisations are viewing the marketing data challenge. The paper goes on to describe the impact of the General Data Protection Regulation as a catalyst for data-quality initiatives and models for collaboration between the CMO and CDO. This paper forms the preliminary framework for a larger research initiative to be completed in the second and third quarters of 2019.
Estimating the contribution of liquidity sources in the Colombian large-value real-time gross settlement payment system: A preliminary approach
Authors: Bernal Joaquin , Cepeda Freddy , Ortega Fabio
Published: July 2024

This paper presents an empirical estimate of financial institutions’ use of the different liquidity sources for settling their obligations in the Colombian large-value payment system, called CUD. Based on that analysis, the paper also assesses the impact of various policies adopted by the central bank to foster earlier settlement of transactions and to mitigate liquidity risk in the real-time gross settlement system. To this end, CUD participants’ intraday transactional and liquidity behaviour was reviewed over two periods that differ considerably in both functionality of the system and economic environment: May 2002 and May 2010. The findings are presented in an aggregated manner by broad groups of participants, focusing attention on the three most active groups: banks, brokerage firms and trust companies. Owing to current limitations in available information, the methodology is based on the simplifying assumption that participants draw down the full balance on their individual reserve-requirement accounts at the central bank before turning to other liquidity sources. Next, it estimates the liquidity provided by the central bank or obtained in the money market and regards the payment flow between agents (liquidity from incoming payments) as a residual. This analysis provides a preliminary approach to identifying financial institutions’ strategies for using each of the alternative liquidity sources in the payment system and to determining the potential risks that such strategies pose to each type of participant and to the system as a whole. It also provides the financial authorities with criteria for designing macroprudential policies to mitigate liquidity risk and systemic risk. The authors believe this to be innovative research for emerging economies.
Where in the world are our #ProudlyUNB alumni? How the University of New Brunswick developed a creative caricature to help locate and engage alumni around the world
Authors: Rego Natasha , Kennedy Jenna
Published: July 2024

Maintaining connections with alumni once they leave campus can be an incredible challenge, particularly in the early years following graduation when contact information is always changing. Through an innovative digital marketing campaign, UNB’s Alumni Office developed a fun caricature named Freddy John who became the face of the alumni office and set out on a worldwide adventure to locate and engage with UNB’s ‘missing’ alumni. He ‘travelled’ the world over an 11-month period connecting with UNB alumni through a series of digital communication pieces, collecting updated contact information from 6,500+ alumni in over 90 countries and providing new opportunities for engagement and solicitation. Using UNB’s campaign as the primary focus, this paper will review the process of planning a contact information campaign, and developing the communications tactics that best fit the institution. It will also look at UNB’s campaign results as well as ideas for ongoing measurement.
Business continuity, emergency planning and special needs: How to protect the vulnerable
Authors: Reilly Daniel
Published: July 2024

Emergencies and disasters affect all segments of the population. Some segments are more at risk during the emergency response and recovery efforts owing to vulnerabilities that increase the risk of harm. These vulnerabilities are due to individuals’ disabilities, which must be incorporated into emergency and business continuity planning. Some disabilities are obvious, such as impaired vision, hearing or mobility, while other are less evident, but equally disabling, such as cognitive disorders, geographical or language isolation, and numerous age-related factors. Taken together when creating emergency or business continuity plans, the issues identified as disabilities can be grouped by functionality and termed as special needs. This paper will detail the identification of special needs populations, explain how these persons are vulnerable during the emergency or disaster response and recovery process, and provide examples of how to partner with individuals within identified special needs populations to improve the planning process.
Identifying single points of failure in your organisation
Authors: Bryant Robby J.
Published: July 2024

Single points of failure may spell disaster for businesses that have not adequately identified and mitigated these critical risks. A single point of failure audit will identify the single points of failure in all functional areas that may negatively impact organisational processes and process flows. This paper provides a holistic approach to constructing a successful single point of failure audit and identifies the systems that are frequently the sources of single points of failure. It also examines the internal and external risks that may spawn single points of failure and provides various mitigation strategies for the systems identified.
A solution for managing high-quality liquid assets: How distributed ledger technology can benefit the securities lending market
Authors: Hartung Gerd , Rutter Kevin , Stroemer Guido
Published: July 2024

For the financial industry, the need to manage high-quality liquid assets (HQLA) efficiently and the related topic of collateral mobility are more relevant than ever. In the aftermath of the global financial crisis, they have posed a significant challenge for the industry. Progress on this issue is strongly linked to the evolution of new technologies. This paper assesses the current situation and how distributed ledger technology (DLT) can help to address this subject and improve the securities lending market. It examines which aspects need to be taken into consideration when designing a DLT solution, how it can be implemented and what are the next steps on our way to solving one of the most pressing issues for the future of financial services.
Enhancing party identification in payments messaging with the Legal Entity Identifier
Authors: Doyle Robin , Janssens Paul
Published: July 2024

Like other areas of banking, the world of payments suffers from a high cost of regulatory compliance and outdated methods to ensure accurate and reliable data for legal entity identification. The use of the Legal Entity Identifier (LEI) as a key element in legal entity identity management within the payments life cycle can help solve these issues. Including LEIs in the payments life cycle provides verified, authoritative information about the exact legal entity involved in payments transactions to the parties involved in the process. The Payments Market Practice Group considers the migration to the ISO 20022 payments messaging standard, and use of the LEI within that migration, a key opportunity to rethink how and what reference data are sourced and used for legal entity identification, and to make real enhancements to such identification and messaging processes for the payments community.
Effectively integrating physical security technology into the operational technology domain
Authors: Wharton Matthew
Published: July 2024

The operational technology (OT) domain has historically been an area of sensitivity primarily within the industrial (manufacturing, petrochemical, medical) and critical infrastructure (power, water, utility, data, telecommunication) markets. Recent compromises of OT have expanded the exposure to loss from this domain into more core corporate markets, including pharmaceutical, technology, logistics/supply chain, software, banking/finance, retail, warehouse/distribution and commercial office. This paper promotes a holistic countermeasure implementation programme must be put in place and be managed as a core competency within the overall cyber security posture of an organisation in order to effectively mitigate threats to this domain. It advises how physical security controls must be a priority within this posture to effectively control access to the on-site assets that manage OT. The control strategy put forward in this paper introduces two key attributes. The first is to apply physical security controls to protect OT, which may require an expansion of the locations at a site where these controls are deployed. The second is to treat physical security assets as OT so they fall under the same level of network segmentation, threat management, version control and access management as core OT assets.
Discerning between hype and reality: Common misconceptions about Blockchain
Authors: Parkhurst Kelly
Published: July 2024

This paper examines the essential misconceptions about Blockchain technology and addresses the means of identifying the truth behind a popular and hotly debated topic. One of the biggest obstacles to Blockchain technology, other than it still being in its adolescent phase, is the number of misconceptions about what the technology is, what it does and what it can do. Many business persons have mistakenly tried to understand the mechanisms of this technology rather than its potential uses, and as a result find the debates that surround it confusing. The most pressing misconceptions that are unpacked in this paper range from the technology’s perceived security, its varying definitions and technology types and the misinformation dispersed by the media. Dispelling these misconceptions will assist the technology in quickly reaching the significant potential that many enthusiasts believe it has.
Assessment of efficiency of Greek airports
Authors: Psaraki-Kalouptsidi Voula , Kalakou Sofia
Published: July 2024

This paper assesses the efficiency of Greek airports using data envelopment analysis (DEA). Appropriate inputs and outputs describing primary airport functions are identified. First, the landside and airside infrastructure of the airports are evaluated in terms of the movements served during the period 2004–07. In contrast to previous studies, special emphasis is focused on passenger building and its potential to serve passenger traffic. Then economic efficiency is assessed. The paper reports on pure technical efficiency, scale efficiency, airport potential and peer airports.
A model to improve preparedness and strategically enhance resiliency at a community level: The Garden State approach
Authors: Bowman Rodric , Newman Alexander
Published: July 2024

This paper focuses on community resiliency planning in high-density areas, concentrating on balancing critical infrastructure recovery needs with real-life limitations in funding, and knowledge for how emergency management is done. A case study examines how a New Jersey government agency and state university were able to pilot a community resiliency concept in order to rapidly inject emergency management knowledge into a community that was affected by Superstorm Sandy. The lessons learned are intuitively understood by emergency planning professionals: preparing continuity of operations plans, conducting training and exercises, and mitigating risk for future disasters. However, the value is not in reinforcing what the professionals already know, but in providing low-income and disaster-affected communities with the tools to help themselves and develop the competencies to provide meaningful information to those who can provide assistance.
Operational risk red flags: Lessons learned from ten hedge fund blow-ups
Authors: Cagan Penny
Published: July 2024

This paper examines the lessons learned and ten specific 'red flags' that can be extracted from a case study analysis of recent hedge fund blow-ups, with emphasis on the Amaranth Advisors loss event. An in-depth discussion is included on the recent US Senate report on Amaranth and the role that electronic unregulated markets played in that breathtaking event. Through a systematic analysis of Amaranth and other events, a list of criteria is established for evaluating the risk profile of an individual fund from the perspective of investors or other exposed entities, such as service providers. These recommendations include an analysis of the mix of trading activity on regulated versus unregulated exchanges, the role that models play in day-to-day management, risks inherent in promoting a star culture and attention to market practices.
Video surveillance and the right to privacy in the AI era: Proposed new rules
Authors: Kouroupis Konstantinos
Published: July 2024

Artificial intelligence is omnipresent in many areas of our lives. It may provide numerous services, involving the processing of undefined amounts of personal data and the insertion of algorithms. Therefore, its connection with privacy is very strong. A proposal for a Regulation on AI — the EU Artificial Intelligence Act (also known as the AI Act) is about to come into force in 2024. This paper aims to demonstrate the great impact of AI on the right to privacy when video-surveillance technology is being used. The introduction of AI tools lends a particular context to that practice. Thus, through a descriptive methodology, this paper attempts to demonstrate the nature, scope and aim of the draft AI Act. Then, the study puts special emphasis on the governance of video-surveillance systems, especially the governance of facial recognition, as it has been originally regulated under the AI Act. Additionally, following an intense study of national policies, a critical approach is pursued to the new rules on the issue, which have been proposed by MEPs. Achieving a human-centric dimension regarding AI is of primary interest. Consequently, this paper aims, finally, to offer original and fruitful suggestions for the regulation of video-surveillance systems in the new AI era.
The great office evolution: Reimagining the workplace
Authors: Hickey David P. , Douetil Guy
Published: July 2024

The COVID-19 pandemic has redefined how and where many of us work. Our new normal requires agility and adaptation from employers and workers. Now both sides have the chance to capitalise on the positive and mitigate the negative. While hybrid and remote work are not new concepts or practices, the scale at which the pandemic has required their use has never before been experienced and is only possible now due to the plenitude of advanced communication and collaboration technologies available. Navigating this forced work experiment through the lens of site selection enables a company to form a comprehensive set of considerations for data collection and objective analysis. This will allow organisations to understand current trends based on historic benchmarking from similar occurrences to maximise potential and minimise risk. No one knows exactly what to do next, but what we do know is the best process to figure it out. This paper discusses how, despire some large corporations introducing hybrid work schedules, allowing employees to work anywhere they like, and some companies even considering cutting workers’ pay if they no longer commute to the office, smarter companies are figuring out how to work within the new normal of mass remote and hybrid workforces. It concludes that businesses need to right-size their real estate portfolio while enabling their remote workforce to produce in the most effective and accommodating way possible.
Business value of Generative AI use cases
Authors: Hendricks Fuad
Published: July 2024

This paper discusses the significant impact of artificial intelligence (AI), specifically generative AI (GenAI), on various industries and business processes. It highlights the rapid adoption of AI technologies and their profound influence on global business operations. The paper shares views on the substantial growth rate for the technology, with many businesses already in piloting phases or production stages. It emphasises the transformative role of generative AI in creating new services and products, necessitating changes in operating models, technology stacks and workforce skills. The paper also touches on various industries affected by AI, the potential for automation and augmentation and the strategic planning required for businesses to effectively implement and benefit from these technologies. Additionally, it discusses the importance of responsible AI, addressing risks such as bias and privacy, and complying with emerging regulations. The paper highlights the crucial role of AI in modernising business practices and creating competitive advantages in various sectors.
Moving an entire banking sector onto DLT: The Italian banking sector use case
Authors: Stasi Roman , Attanasio Silvia
Published: July 2024

Blockchain technology has in recent years gained significant appeal worldwide in view of its potential to transform the way we do business. In this regard, one of the most attractive architectural concepts is the consortium Blockchain, where a group of peers, leveraging a common governance, collaborate to define rules and technology development. A consortium Blockchain is highly beneficial in a setting where multiple organisations operate in the same industry, but it is not immune from challenges, including investment, education and data standardisation. This paper provides an analysis of the evolution of Blockchain and Distributed Ledger Technology (DLT) technologies and the regulatory approach along with a practical case study on the use of Blockchain in the Italian banking sector. This sector has successfully pioneered the use of Blockchain/DLT with a new application, Spunta Banca DLT, for straight-through processing of interbank reconciliation. Finally, challenges, opportunities and important learnings are discussed.
Challenges of technology accessibility, computer self-efficacy, computer anxiety and cyberphobia in adoption of e-learning systems among students
Authors: Ferdousi Bilquis
Published: July 2024

Integration of emerging digital technology in academic learning is becoming prevalent in higher education. In the current educational environment, it is important to adopt new advanced technology that changes the way learning is processed in academic institutions. Students’ inaccessibility to technologies required in their class, as well as their lack of confidence in using technology, are, however, obstacles in their adoption of new technology for successful continuation of online learning or e-learning. Based on a systematic and extensive review of research in current literature, the study described in this paper investigated the factors that create challenges in students’ technology adoption for their academic learning. The literature reviewed included recent and relevant studies supported by the classical theories in this area. The finding shows that accessibility to the required technology, along with psychological factors such as computer self-efficacy and computer anxiety or cyberphobia, have an impact on students’ adoption of e-learning systems. This paper summarises the current state of relevant knowledge and suggests several strategies to address the challenges of these factors that create obstacles to achieving effective learning objectives in the e-learning environment. The study plans to provide a better understanding regarding students’ accessibility to advanced computer technology and the psychological factors that may affect their successful achievement in e-learning.