bluuebunny/crossref_metadata_2025 huggingface dataset:
21c Museum Hotels: A company breaking branding and product conventions
Authors: Reeves Martha
Published: July 2024

This case study of 21c Museum Hotels introduces a new concept in hotel branding, that of combining three strong elements not formerly developed by boutique hotels: a first class restaurant, an art museum with large gallery spaces, and a deluxe hotel. The case discusses how the owners have branded this unconventional business, their differentiation strategies, their engagement with local communities, and how they have used a wide variety of marketing communication methods to engage potential customers. In addition, the article discusses challenges for the business.
Are your securities operations sufficiently resilient? A business continuity briefing
Authors: Harvey Alton
Published: July 2024

Lethal avian influenza viruses with pandemic potential continue to mutate and spread worldwide. If one of these viruses were to cross the pandemic threshold, it would present securities firms with unprecedented challenges that could threaten their franchises just as surely as the liquidity concerns stemming from today's credit market problems. Moreover, increasing numbers of operations and business continuity managers have come to recognise that, even if a severe pandemic does not develop in the near future, preparations for such a threat are extremely valuable. If a firm prepares adequately for a pandemic, it has met today's 'acid test' for operational resiliency. This paper seeks to provide actionable guidance on key issues raised by recent efforts of the US securities industry to ensure that markets will function in a pandemic. This includes lessons learned from the 2007 Pandemic Flu Exercise for the US Financial Sector, as well as follow-up discussions that are taking place between regulators and the industry concerning potential regulatory forbearance. In addition, in view of the central role that remote access plays in continuity plans for the financial sector, measures to address potential Internet congestion are also discussed.
Warning sign: Building a sensitive content filter for historical news photography
Authors: Weig Eric
Published: July 2024

The John C. Wyatt Lexington Herald-Leader Photographs Collection contains historical photographic images documenting 20th-century Lexington, Kentucky. The collection is housed at the University of Kentucky Libraries Special Collections Research Center. To provide access to the collection, a digital library was designed and built using the Omeka open source web publishing platform. The digital library contains both published and unpublished news photography, including some content considered potentially sensitive, such as crime scene documentation and automobile accidents. This paper describes the collection, discusses the roles of sensitive content filters for online access, and the creation, from the technical and user experience viewpoints, of a custom sensitive content filter at the University of Kentucky Libraries Special Collection Research Center.
Smart cities need smart main street centres
Authors: Sully Stephen
Published: July 2024

This paper has been written to confirm the economic value of our traditional main street centres as we move into a digital world of smart cities, online shopping and increasingly digital, rather than physical interaction. It highlights the need for, and benefit of, traditional centres to be supported as they continue to evolve and address the emerging issues of the 2020s, in the same way that they have evolved in line with urban evolution over the past 200 years.
Privacy nutrition labels, App Store and the GDPR: Unintended consequences?
Authors: Novović Miloš
Published: July 2024

In an effort to increase the transparency of personal data processing carried out via applications listed on their mobile store, Apple recently announced the launch of privacy nutrition labels (PNLs). Aimed at informing users about an application's use of data, these card-like labels are prominently visible on each application's App Store page. This paper explores whether such disclosures made via PNLs can help data controllers fulfil their duty of transparency under the EU General Data Protection Regulation (GDPR). It establishes that the PNLs, in their current, highly standardised fashion, cannot convey the mandatory obligations required by the GDPR. Added to this, they cannot adequately supplement existing privacy policies, either — as they neither serve an adequate role as a ‘first layer’ of a privacy notice, nor help communicate information more efficiently. However, the paper finds that the PNLs might serve another purpose: enhancing data controllers' internal compliance routines. PNLs, even with their current limitations, can bring tangible improvements to cross-functional communication, third-party sharing awareness, records of processing accuracy, adherence to the data protection principles and adequate resource assignment. The overall conclusion of the paper, counterintuitive as it might appear, is that PNLs should be viewed as an organisational measure-enhancing mechanism rather than a transparency tool.
The value of human capital in Green Deal-oriented smart cities
Authors: Casale Oliviero
Published: July 2024

This paper highlights the important role of human capital in green transformation processes. In particular, the proposed perspective is that of smart cities in which the technological factor must be combined with the human factor for sustainable development. In fact, to become smarter and more sustainable, a city must move towards the responsible use both of human and infrastructural resources. All this can be fostered by digital transformation and the use of emerging technologies, as well as through a strong connection with the territory and the active involvement of citizens, communities, businesses and institutions.
Mind the gap: Digitisation and payment systems
Authors: Buğday Ahmet , Deniz Ozan , Öztaner Serdar Murat , Şener Emrah
Published: July 2024

This paper provides a practical toolkit for central banks looking to develop their own instant (retail) payment system (IPS). Noting how the organisational and operational structures of such systems differ significantly across jurisdictions, mostly depending on the style of coordination between the system operator, service providers and the central bank in question, the paper identifies three key parameters to facilitate the successful launching of an IPS: the ownership/operational model, incentives for fast adoption, and technology. The paper discusses how the Central Bank of the Republic of Turkey optimised these parameters in 2021 while developing a new in-house IPS, known as FAST.
Data and connectivity as key building blocks for effective collaboration with supply chain partners
Authors: Barnhart Christine
Published: July 2024

Data and connectivity are the key building blocks that enable supply chain maturity for manufacturers and their partners in the supply chain ecosystem. Multi-enterprise supply chain business networks deliver data and connectivity with features that obtain real-time data, create visibility, ensure truth, enable collaboration and increase intelligence. It is critical to find the right partners when making a supply chain intelligence investment. This paper describes how to build supply chain intelligence and supply ecosystem orchestration to achieve long-term, sustainable value.
Transforming the way passengers and colleagues travel to Heathrow
Authors: Caccavone Tony , Wells Timothy , Tweddle James , Ede Matt
Published: July 2024

This paper seeks to explore the many ways Heathrow is transforming how passengers and colleagues travel to and from the airport by surface transport modes of access — with the core goal of promoting sustainability and prioritising decarbonisation. Initially, the scale of the surface access challenges being faced to reach zero-emission travel is demonstrated, and the targets in place to tackle them effectively are identified — contextualised by the information gleaned from the first-of-its-kind Heathrow Travel Report. From there, the levers are identified, both physical and emotional, that can transform ambitions into a reality, as well as demonstrating how they can be used to influence commuter and customer behaviour. Clearly, it is also necessary to acknowledge the reality of how the COVID-19 pandemic affects travel through passenger numbers and personal preferences, while highlighting how infrastructure and policy guidelines have been adapted in order to recognise this new reality. Behavioural change is always an individual decision, but using expertise to shift opinion by highlighting affordability, accessibility, health and environmental benefits throughout will showcase the essential future of travelling to Heathrow for passengers and colleagues in a clear and cogent way.
Security testing as part of a digital assurance toolkit
Authors: Huddy Graeme
Published: July 2024

The role of IT audit and other digital assurance functions is to provide comfort to stakeholders regarding risks and the controls that have been implemented by management to safeguard an organisation. This paper discusses the misalignment between digital assurance activities and security testing. When performing security testing from an assurance perspective, it is common for the discussion with management to focus on the number of findings, not necessarily the impact. From a security testing perspective, a single finding could result in a business compromise, or multiple low findings could be chained together to result in a more significant business impact. Citing example findings across multiple sectors and geographic locations, the paper details what security testing results often look like, related challenges in an assurance context, the difference between security testing and other assurance activities, how to get management buy-in, and key recommendations on how best to use security testing as part of a digital assurance toolkit, with the caveat that scarce specialist skills are required.
Innovation in transaction banking: What can emerging technologies deliver?
Authors: Mager Christopher
Published: July 2024

The speed of technological change in transaction banking is building pace, with a multitude of new innovations coming to the fore that are tipped to transform existing processes. But while these emerging technologies are generating growing interest in the industry, how could they impact existing processes and what are the practical challenges and benefits of implementing them for banks? This paper examines some of these new technologies, and how they could be harnessed by banks to deliver enhanced transaction experiences for clients.
‘Hey, can I use this?’ Simplifying rights management for creative agency DAM systems
Authors: Wolfe Tracy
Published: July 2024

Clear communication of rights associated with creative assets in a self-service digital asset management (DAM) system can be challenging owing to varied user knowledge, inconsistency in metadata entry, a wide range of usage and licensing parameters, and system features and limitations. Creative end users such as designers, art directors and art buyers require simplicity, clarity and ease of discovery in terms of rights management information. Understanding the user, the needs of the organisation and clients if applicable, as well as the digital asset management system employed, is paramount to the success of any DAM administrator in planning, presenting and managing the application of rights metadata. This paper discusses the inherent challenges of adding rights-managed assets to a DAM; governance features of DAM systems and examples of proper implementation; and suggestions for educating users to get the most out of the DAM experience without incurring risk of copyright infringement.
Culturally relevant marketing: Conceptualising a critical pedagogical approach to multicultural marketing strategy
Authors: Williams-Sanchez Valerie L.
Published: July 2024

In this era of unprecedented political shifts, the global health pandemic, and social justice awakenings, marketing strategists who look to develop effective marketing strategies must be able to navigate an evolving socio-political landscape and the needs of an increasingly diverse population and marketplace. To meet these needs, this paper proposes a new framework: the culturally relevant marketing strategy. For theorists, pragmatists and practitioners operating in this space, culturally relevant marketing offers important features and benefits. Taking cues from education pedagogy, this hybrid approach integrates traditional marketing strategy with multi-dimensional consumer research, discourse, critical interpretation, and analysis, to facilitate meaningful outcomes. It does this by providing the tools needed to overcome cultural blind spots and social justice tone-deafness in strategic development. This paper considers the market factors at play to present a grounding overview, including what distinguishes it from other branded theories, in order to conceptualise a go-to multicultural marketing strategy approach for right now.
A workflow for workflows: Case management at the University of Notre Dame Hesburgh Libraries
Authors: Narlock Mikala , Griesinger Peggy
Published: July 2024

The University of Notre Dame Hesburgh Libraries strives to be a transformative research library that acquires, preserves, organises and stewards knowledge in all forms. This includes the creation of digital collections using rare, unique and/or high-interest materials. Prior to the efforts described in this paper, there was a great deal of siloing among the different units charged with stewarding the digital collection process at Hesburgh Libraries. The Digital Collections Workflow (DCW) team was convened as a way to bridge the gaps between units to improve efficiency and reduce redundancy. This paper provides a detailed analysis of the state of digital collections work at the Hesburgh Libraries before, during and after the DCW process. The authors will discuss in detail the design and implementation of the case manager methodology and the Digital Collections Oversight team that was born out of the DCW discussions.
Building resilience: The role of enterprise security risk management in developing a resilient organisation
Authors: Mccreight Tim
Published: July 2024

Enterprise security risk management (ESRM) has continued to gain global acceptance as a management philosophy for the development and implementation of an enterprise-wide corporate security programme. As organisations continue to rebuild and recover from COVID-19, the value of assessing the resilience of an organisation through regular testing of its response to events has gained prominence. There are opportunities to link the development and implementation of a risk-based approach for designing a security programme, to assessing an organisation’s resilience to future events. Organisations can benefit from the complementary approaches of ESRM and organisational resilience once the commonalities are identified and embraced. This paper expands upon the ESRM management approach, linking the concepts of ESRM to the design of a resilient enterprise.
Business continuity management lessons learned from COVID-19
Authors: Goldstein Monica , Flynn Sherri
Published: July 2024

This paper reviews how the COVID-19 pandemic has impacted established best practices in the field of business continuity management (BCM). It reviews the lessons learned and provides suggestions on how business continuity programmes need to evolve in order to reflect the changed landscape. By walking through the BCM life cycle, the paper considers the various changes required at each phase of the BCM programme.
The role of Local Economic Assessments in the new political and economic climate and their relationship with Local Enterprise Partnerships
Authors: Pugalis Lee , Carling Jon
Published: July 2024

As part of a move to strengthen the economic development and regeneration role of local authorities, Local Economic Assessments (LEAs) were formally introduced in England in April 2010. In the time since a statutory duty to produce economic ‘evidence bases’ came into force, there has been radical urban policy unrest. A shift in national government set about a rescaling of sub-national development activity. Consequently, there is substantial merit in exploring the role of LEAs in this new political and economic climate, including their relationship with cross-boundary Local Enterprise Partnerships (LEPs). The fourth paper in a series, the dual objective is to conceptualise the LEA process and identify policy development opportunities. The empirical findings support the theorisation that LEAs (analytical processes) and LEPs (governance networks) offer significant scope for a fruitful dialogic interaction. The paper argues, however, that a (more or less formal) strategy-making process to help transmit shared priorities would significantly bolster the LEA–LEP relationship.
The staffing threshold model: A systematic approach to addressing absenteeism in a pandemic
Authors: Heinzlreiter Manfred , Gill Tony
Published: July 2024

This paper raises management concerns about the organisational and personal impacts of a pandemic outbreak and specifically relates to those issues surrounding employee absenteeism. Principally, this is addressed through the introduction of the staffing threshold model, an original framework developed by the authors that provides managers with a structured methodology to help organisations manage worker absenteeism. Indeed, as organisations have had time to reflect on the macro impacts of a pandemic outbreak, the area that tends to garner much attention is the human resources department. Because this work is completely new, and there are no precedents from which to extrapolate (only recently, in fact, have business continuity professionals even started to recognise the importance of incorporating the human element into their planning efforts), there are no case studies against which to measure the methodology. Nonetheless, the authors feel that the introduction of a systematised method of managing worker absenteeism can make a valuable contribution to the field.
The value of nonprofit sponsorship and corporate giving
Authors: Percival Brent
Published: July 2024

The purpose of this paper is to highlight how corporate charitable giving, in the way of sponsorship, can be an advantageous form of promotions and brand enhancement. By highlighting both good and bad examples, this paper aims to establish the hallmarks of effective nonprofit sponsorship. A majority of charitable giving has taken place at a local level, wherein brand associations are deemed most genuine. Larger and riskier partnerships between the business and charitable sectors are taking place that are changing how brands are viewed at a national level. Decision makers in public relations, human resources and marketing are increasingly making a conscious decision to show corporate social responsibility the attention it deserves and, as in all forms of promotions, invest wisely.
Capturing initial margin in counterparty risk calculations
Authors: Moran Lee , Wilkens Sascha
Published: July 2024

This paper compares a range of alternative approaches to incorporate Initial Margins (IMs) in the modelling of counterparty credit risk exposures. IMs have risen in importance following the rise of Central Counterparties to clear OTC derivatives and the recent legislation requiring bilateral margining for uncleared derivatives between financial counterparties. IMs have become an essential model component that drives exposure, associated regulatory capital requirements and valuation adjustments such as Credit Valuation Adjustment (CVA) and Margin Valuation Adjustment (MVA). The influence of the modelling choices is explored by means of typical derivatives portfolios. For the actual estimation of a path-dependent (‘stochastic’) IM through time the use of quantile regression is suggested as an econometrically reliable approximation. Banks’ internal counterparty risk models will likely exhibit a basis vis-à-vis the actual IM mechanisms in practice (for example, owing to different risk factor representations and/or calibrations). In this context, the paper suggests that a simplified representation in the form of a ‘dynamic IM’ can approximate most of the quantities of interest to a reasonable degree.
Landlords and tenants must work together to meet net zero carbon targets
Authors: Johnstone Anne , Holyoake Clare
Published: July 2024

Almost one-third of the UK’s total emissions relate to the energy used in existing buildings. This paper discusses how it is clear that improvements in the energy efficiency performance of buildings (and the way in which occupiers use them) are absolutely central to the UK Government’s 2050 net zero carbon emissions target. It anaylyses how some of the impetus towards driving down operational energy usage is statute-led (such as the Streamlined Energy and Carbon Reporting [SERC] regulations) but so too is the upshift in emand for greener buildings from occupiers and investors. The paper dicusses the numerous ways in which improvements can be made to a building and its services that may well improve its energy performance certificate (EPC), but also argues that it is vitally important to educate occupiers on ways in which their actions can have a huge impact on the building’s in-use performance. The paper discusses a significant hurdle to implementing energy efficiency improvements: currently, most commercial leases do not adequately address the issues involved, including often highly contentious areas such as consent for alterations, whether it is the landlord or the tenant that pays, and whether or not changes need to be reinstated at lease end. The paper analyses ways to address this: by moving the way in which leases are drafted towards the green lease model, such as that set out in the Better Building Partnership Green Lease Toolkit. Such leases include clauses which provide for environmental performance improvements, management and monitoring as well as the way reinstatement at least end is dealt with. In the paper concludes that, alongside implementing physical energy efficiency improvements, monitoring energy use and educating building users, landlords and tenants must forge a new, collaborative approach in order to reach net zero by 2050.
How to run a global marketing campaign that meets local needs without damaging the brand
Authors: Freedman Kevin
Published: July 2024

Successful localisation can bring great rewards to a global campaign, taking a brand further, faster than ever before. But how do companies launching a new product or campaign for a global brand strike the right balance between understanding and responding to the needs of local markets and not damaging the brand globally? How can they achieve global consistency and local relevance in a new campaign or launch? Pitfalls abound, but it is possible. Global marketing campaigns can work despite the company's structure, balancing the needs of global and local, whatever the organisational model. Prioritising collaboration and implementation is fundamental to success.
How a focus on ecosystem play is important for financial institutions to stay relevant
Authors: Liew Nam Soon , Pamnani Vinay
Published: July 2024

The territory traditionally occupied by financial institutions is seeing new competition not only from financial technology (FinTech) players but also from non-financial services players. These non-financial services players offer payments, insurance lending and wealth management in addition to other services such as e-commerce, ride hailing or food delivery. To stay relevant, financial institutions need to venture beyond their immediate fields and explore partnerships and ecosystem play. The rise of FinTechs and consumer platforms in South-East Asia comes at a point where customer pain points and unmet needs have long existed and yet not been addressed. Hence, FinTechs and consumer platforms had the opportunity to leverage this gap to entrench themselves in the value chain, and grow in prominence, riding on the region’s strong fundamentals and widespread digital adoption as well as supportive regulatory developments. This paper discusses the growth of FinTech and consumer platforms and explores how participation in digital ecosystems may be the answer to the existential question that financial institutions face. It also lists the different roles that financial institutions can consider in an ecosystem and the five fundamentals of effective participation. As FinTech providers become more popular with customers through lower fees, greater convenience and higher returns, financial institutions need to transform to maintain their market share and competitive advantage. This means streamlining business and operating models, leveraging data analytics, adopting new technologies and transforming talent.
How risky is your risk information?
Authors: Mark Robert M. , Krishna Dilip
Published: July 2024

A well-designed approach to managing risk information is a critical component of a superior risk management programme. A high-quality risk information management programme continues to be a blind spot and elude even the largest of financial institutions (FIs). For example, risk management at many large FIs has proved ineffective in organising their risk information to model the risk of complex structured products. This paper shows how inferior information quality adversely affects risk management. It then discusses ways to assess the quality of risk information in financial institutions as well as showing how to address this problem in a cost-efficient manner.
Personal liability: What compliance professionals need to know
Authors: Greenberg Polly
Published: July 2024

The last decade and a half has seen a rise in the number of corporate enforcement actions and prosecutions following financial crimes compliance failures that have resulted in malfeasance. Relatively few of those corporate actions, particularly criminal actions, have included charges against individuals. That is beginning to change as US regulators and law enforcement bring greater focus to the role of individuals in compliance breakdowns. Recent rule making and policy changes aim to identify and hold accountable individuals involved in corporate wrongdoing. While there is an upside to these new approaches, they also raise a legitimate concern that they will stifle innovation and lead to process redundancy.
Digital payments adoption and the demand for cash: New international evidence
Authors: Arango-Arango Carlos A. , Suárez-Ariza Nicolás
Published: July 2024

Around the world, the adoption of digital payment systems continues to grow apace. At the same time, however, the demand for cash continues to grow in both developed and developing economies. This puzzle has found only partial explanations in the previous empirical literature. This paper presents further conclusive evidence that the adoption of digital payments reduces the demand for cash. It also discusses how growth in the demand for cash is driven by economic growth and lower interest rates as well as secular positive trends in the demand for large denomination banknotes, related to unobservable factors.
The human factor in cyber security
Authors: Sotira Nicola
Published: July 2024

This paper explores the relationship between the need for industries to accelerate the digital transformation process and the need to fill the cultural gap that separates knowledge of digital technology from appropriate cyber postures. The human factor in cyber security represents actions and events where human error results in successful hacks or data breach. Every year companies are implementing new security measures, adopting the latest technologies while forgetting that most breaches can be traced back to human error. Failing on that task may compromise all the defence-in-depth technologies in which organisations are investing. So how should we address this issue and what should organisations do? To this end, the paper discusses implementation of technical and administrative procedures.
The California Privacy Rights Act of 2020: A broad and complex data processing regulation that applies to businesses worldwide
Authors: Determann Lothar , Tam Jonathan
Published: July 2024

The California Privacy Rights Act of 2020 (CPRA) introduces sweeping changes to the California Consumer Privacy Act of 2018 (CCPA), most of which will become operative as of 1st January, 2023, with a ‘look back’ to 1st January, 2022. Key revisions include a new definition of ‘sensitive personal information’ and detailed obligations regarding the processing of sensitive personal information for non-essential purposes; a new and counterintuitive definition of ‘sharing’ personal information and related restrictions aimed at the digital advertising industry; new data subject rights to correct inaccurate information and opt out of the use of automated decision-making technology; new requirements to include data protection and processing terms in contracts with data recipients and vendors; new requirements regarding what privacy notices must include and how they must be furnished to data subjects; and the establishment of a new privacy authority, the California Privacy Protection Agency. Although some requirements are similar to those in other jurisdictions, some are unique in their scope and even more onerous and detailed than those of the European Union General Data Protection Regulation. For example, CCPA also applies to ‘household data’ and will require companies to include California-specific language in their vendor contracts and privacy notices. This paper summarises some of the key revisions that CPRA makes to CCPA and offers practical recommendations on how companies subject to the law must comply. Companies that do business in California must comply not only with the revised CCPA but also detailed laws specific to particular sectors, industries, harms and activities.
Revisiting urban planning and design practices in a small city in Florida
Authors: Kim Sungman
Published: July 2024

In many local jurisdictions in Florida, practitioners have overlooked the general urban planning and design process and have helped to create a politically optimised planning structure. Politically optimised practice, as observed through this study, has produced errors in acquiring knowledge of urban morphology for future potential, understanding preferences in urban policy structure, and providing consistency between planning policies. The errors have then created inefficient planning practices. Consequently, there have been demands for more efficient and effective urban planning and design practices. According to the results of this study, the general urban planning and design process provides a guide for better collaborative work between planners, the public and politicians, and offers better performance through a scientific planning approach.
Promoting efficient retail payments in Europe
Authors: Hasan Iftekhar , Martikainen Emmi , Takalo Tuomas
Published: July 2024

This paper first documents the evidence showing how an efficient retail payment infrastructure enhances economic performance. It then reviews the policy tools available to promote efficient retail payments in Europe. The authors argue that, while SEPA is an important policy initiative that harmonises payment methods across the EU, it alone is not enough. Vigorous competition and consumer protection policies as well as direct interventions discouraging large-value cash payments would be particularly attractive policy tools, as they would put no strain on stretched government budgets.
Novel coronavirus disease (COVID-19) outbreak: Now is the time to refresh pandemic plans
Authors: Koonin Lisa M.
Published: July 2024

This article outlines practical steps that businesses can take now to prepare for a pandemic. Given the current growing spread of coronavirus disease 2019 (COVID-19) around the world, it is imperative that businesses review their pandemic plans and be prepared in case this epidemic expands and affects more people and communities. Preparing for a potential infectious disease pandemic from influenza or a novel corona virus is an essential component of a business continuity plan, especially for businesses that provide critical healthcare and infrastructure services. Although many businesses and organisations have a pandemic plan or address pandemic preparedness in their business continuity plans, few have recently tested and updated their plans. Pandemics can not only interrupt an organisation’s operations and compromise long-term viability of an enterprise, but also disrupt the provision of critical functions. Businesses that regularly test and update their pandemic plan can significantly reduce harmful impacts to the business, play a key role in protecting employees’ and customers’ health and safety, and limit the negative impact of a pandemic on the community and economy.
Outsourcing payments transaction processing in a SEPA environment
Authors: Möller Götz
Published: July 2024

Intensifying market and price pressure forces banks to evaluate all options to reduce costs while at the same time extending their services and improving their service levels. To achieve these objectives, the outsourcing of back-office activities to industrial full-service providers is an important strategic option. In the area of payment transaction processing, the introduction of the single euro payments area (SEPA) is a trigger point forcing banks to take a decision soon about outsourcing — or make significant investments in order to upgrade their existing infrastructure. Owing to European standardisation in the context of SEPA, payment transaction processing will be the first back-office activity in banking with a largely standardised European market. After reviewing the current situation and trends in payments processing, this paper argues that this will lead to the emergence of an efficient European payment transaction processing market, in which banks can freely choose suppliers for their payment transaction processing based on market prices as well as having clear alternatives in the market. Critical traditional objections to outsourcing will thus, in the medium term, no longer apply to payment transaction processing, so that banks can reap the benefits of outsourcing with clearly limited risks.
On the single supervisory mechanism
Authors: Dietz Thomas M.
Published: July 2024

With the so-called banking union, the EU is currently pursuing the most important project in terms of European integration since the introduction of the euro in 1999. The centrepiece of the banking union is the ‘Single Supervisory Mechanism’ (SSM), a supranational banking supervisory body embedded into the organisational structure of the European Central Bank. If implemented properly, the banking union could contribute significantly to breaking the bank–sovereign nexus within the euro area, to reconciling control and liability with respect to cross-border banking supervision in the EU and to accomplishing the European internal market, strengthening the competitiveness of large complex European banking groups. However, there are some shortcomings in the legal and political construction chosen for the SSM, possibly reversing some of the desired positive effects.
The implications of the Payment Services Directive and the Second E-Money Directive
Authors: Courtneidge Robert
Published: July 2024

The Payment Services Directive has been in force since 10th October, 2009, and the Second E-Money Directive came into force across all EU States on 30th April, 2011. This paper looks at the implications of the new legislation and considers how, when and what effects will be felt in the industry.
Emergency management as a complex adaptive system
Authors: Hodges Lori R. , Larrañaga Michael D.
Published: July 2024

This paper explores the application of insights from the study of Complex Adaptive Systems (CAS) to emergency management in search of an adaptive approach to hazard management capable of functioning with increased effectiveness in dynamic, uncertain and unclear environments. This approach demands a shift in perception towards seeing emergency management at the local, tribal, state and national level as a CAS. To function successfully as a CAS, emergency management must move past its current linear hazard-based approach to a hazard-agnostic consequence-based systems approach. This must be predicated on building an understanding of systems, nodes and influencers within and around the emergency management networks before a disruption occurs. This paper encourages emergency managers to map the networks they exist within, describing the nature of the relationships between nodes and identifying their interdependencies, and to cultivate an understanding of CAS. This builds an appreciation of the critical emergency management functional components and the consequences of those components failing. Finally, the paper offers recommendations for emergency management agencies to begin the transformational process of emergency management from bureaucracy to a CAS.
Effects of GDPR on the financial services sector in the Kingdom of Saudi Arabia
Authors: Polat Ali
Published: July 2024

Technological advances have enabled many traditional services to be transferred to an electronic environment, resulting in, among other things, an increasing number of communication channels between financial institutions and individuals. The upshot is that, individuals and entities have to share almost any kind of personal data. While the technology for data sharing and the demand for the data of both public and private sectors are increasing, the legislation on the protection of this data has not been able to grow at the same speed and scope. In the case of Saudi Arabia, there is an element of data protection under Sharia Principles in general, and there are some regulations punishing defined data breaches as per the related regulation. Although a new personal data protection law is under review by the Shura Council, it is not yet accepted. Meanwhile, in the European Union (EU), General Data Protection Regulation (GDPR)1 has been adopted as a regulation that will cover the whole EU and its citizens and corporates all over the world. While protecting personal data, this new framework imposes standards and certain sanctions for all individuals and institutions that process this data. This paper tries to provide a risk assessment of GDPR for the Kingdom of Saudi Arabia (KSA) and the requirement of a detailed data protection regulation that can be consistent with Sharia mainly due to the ‘maslahah’ principle and 2030 Vision.
Rewiring the risk society: How society changes will reshape financial risk management
Authors: Pacciani Cosimo
Published: July 2024

Since the publication of Ulrik Beck’s ‘The Risk Society’ in 1986, which provided an analysis of how modern society should manage risks created by human activity, there have been significant demographic changes and technological innovation. This paper provides an insight into some of these changes by highlighting four main drivers that could have a major impact on the supply and management of financial services in the future. The first driver is demographic changes, which includes higher life expectancy, an ageing society and low fertility rates that could create pressures for the financial industry, especially on the supply of pension and life insurance products. Immigration, however, could mitigate some of these trends, as it may introduce a brain gain in some of the countries mostly affected by the ageing phenomenon. The second driver is technological changes. A high rate of innovation, an increasing speed of communication and a transition towards a society dominated by algorithms, machine learning and, in the future, artificial intelligence, could disrupt the financial services industry. Thirdly, society is changing substantially. A lingering sense of uncertainty, spawned by the financial crisis and the introduction of new technologies, have created a sense of mistrust towards the financial system. A growing sense of economic inequality and more insular global governance may create a growing sense of dissatisfaction. The impact on the financial industry is likely to come from bottom-up initiatives such as peer-to-peer and alternative lending platforms. The fourth driver is governance of the financial system. The rules of the game will have to adapt to these changes, including a revision of regulatory frameworks and, for risk managers, a review of current models and assumptions that are based on the past and often do not account for today’s more technologically advanced system. The paper therefore suggests that a series of paradigm shifts are needed in order to ensure an adequate management of risks in the financial sector. Risk practitioners will need to review their current practices in light of the existential risks created by the four main drivers highlighted above. In summary, risk management practices need to be rewired to meet these challenges.
Digital transformation: An analysis of the current state within Europe’s top five digital airports
Authors: Dini Lucia , Schulke Arne , Klingenberg Christoph
Published: July 2024

This paper showcases the current stage of implementation of various selected digital transformation initiatives at the top five European airports in this regard. Applying a recent theoretical framework (technology adoption framework for airports [TAFA]), the overall current level of technology adoption projects in various stages of implementation at these airports is analysed. The study’s approach is based on qualitative data which was collected through interviews with airport representatives and industry experts as well as from publicly available sources. The study shows that the targeted airports understand digital transformation as the process of enhancing their passenger experience and their cost base via improved service quality and operational efficiency. The findings reveal that Europe’s top five airports currently share the characteristics of Airport 3.0 and that they are progressively beginning solutions based on Industry 4.0 technologies. The outlook on current trial and pre-trial technologies shows a common trend of transformation towards Airport 4.0. There is, however, no common approach applied to this that would be coordinated either by ACI, ICAO or even IATA, leaving a patchwork of isolated technology solutions with widely divergent user experiences to be expected. In the nearer future, airports are likely to remain technological islands with no common approach to a seamless integration between them and, ideally, also between airlines and other transport providers to improve travellers’ physical and digital journey. The study can serve as a guideline for airport managers and will support their decision-making processes by providing information on the strategies taken by the top five European airports.
Traditional hot mixed lime mortars for conservation and repair
Authors: Copsey Nigel
Published: July 2024

Earth-lime and hot mixed lime mortars were the almost ubiquitous materials of traditional construction over many thousands of years but have been sorely neglected, if not ignored, by a building conservation community philosophically wedded to the principle of like-for-like and compatible repair in favour of materials with minimal historic precedent for the purposes to which they have been put. This situation has begun to change over recent years based upon growing craft experience using these mortars once more, as well as mounting evidence of the damaging potential of modern natural hydraulic limes (NHL). Historic England, Historic Scotland and CADW are reiterating the demand for like-for-like repair of historic fabric and, in most cases, this will indicate the use of hot mixed air lime or feebly hydraulic hot mixes.
Addressing today’s top brand challenges with sonic identity
Authors: Perlmutter Kevin , Bradshaw Nora
Published: July 2024

The bar for brand experience has never been higher. Today, marketing and customer experience leaders are in pursuit of the best ways to connect with their desired audiences across an ever-increasing number of touch points. They are looking for distinctiveness, relevance, consistency and, most of all, effectiveness. While so much has changed, many are overlooking a powerful opportunity; and now is the time to consider new approaches to acquisition and loyalty. This paper examines the power of sonic identity — the strategic use of music and sound for brand experiences and audience connection. Not as a tactic, but as an essential aspect of a brand identity that can be scaled appropriately across communications, digital and live touch points. Music and sound can instantaneously trigger an emotional response, increase awareness and attribution, improve perceptions, drive consideration and build deeper connections. This paper discusses what makes sonic identity so powerful and how it can address today’s top brand challenges.
Fuel planning for beginners
Authors: King Elizabeth ‘Eli’ , Hanson Johanna
Published: July 2024

As rapid inflation, continuing supply chain disruptions and the war in Ukraine impact petroleum prices worldwide, fuel supply disruptions have become an increasing concern. This paper describes Washington State’s geographical, political and organisational context as it influences fuel disruption planning, as well as the history and philosophy of Washington’s fuel-planning programme. Finally, the paper discusses planning best practices and gives some examples of their real-world use.
The role of ageing in hospital utilisation
Authors: Masip Jose R.
Published: July 2024

Patient age correlates significantly with the average hospital length of stay (HLOS), regardless of illness or injury, with older-age groups having longer HLOS. This study aimed to explore this relationship with patient age individually and within the age groups when the normal ageing process begins to become phenotypically noticeable up to the age of the estimated life expectancy at birth. The objective was to adjust the prediction model using ageing-only populations and compare the results to better understand the role of ageing in hospital utilisation. A random sample of 132 discharge records from the 2010 National Hospital Discharge Survey (NHDS) was stratified in four ageing groups (31–42, 43–54, 55–66, and 67–78). Using Pearson’s correlation and simple linear regression analyses, the results confirmed that age correlated significantly with the average HLOS, (r(132) = . 915, p < 0.01) in ageing populations. The prediction model was also statistically significant, (F(1, 132) = 82.741, p < 0.01), with an r2 of 0. 837, whereby the ageing groups explained 84 per cent of the variability of the average HLOS. The primary contribution was that patient age scored 6 per cent lower individually in the prediction model (78 per cent ) when compared with the ageing groups (84 per cent ) and 9 per cent lower when compared with the predictions in the NHDS age groups (87 per cent). While the correlation between patient age and the average HLOS remained statistically significant, the importance of this contribution is that these lower scores may support the assumption of individual differential evolutionary skill sets and speeds in the normal ageing and functional decline processes. Further examination and testing are needed to understand the reasons behind these changes in the prediction strength as to why older patients in age groups would explain a higher HLOS variability than individually.