Four Challenges for Blended Finance and Development Finance Institutions

| November 30, 2017

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Overseas development assistance amounts to about $135 billion dollars annually, but the cost of paying for the Sustainable Development Goals will be in the trillions. As a result, blended finance is something of a buzz phrase these days. It refers to financing structures and solutions that mix private capital with public support to get investments.

Spotlight

Hellenic Bank

Hellenic Bank began is operations in 1976 and is now one of the leading financial institutions in Cyprus and one of the systemic Banks under the ECB’s direct supervision, providing Businesses and Financial Institutions with a full spectrum of banking products and services. Hellenic Bank has recently acquired certain assets and liabilities of the former CCB Bank, establishing it as the biggest retail Bank on the island. Hellenic Bank is at the forefront of financing the growth and transformation of the island’s most important industries. The Bank’s success is based on the customer centric service provided by its staff, the wide range of competitive products and services it offers and the use of advanced information and control systems.

OTHER ARTICLES

Open Banking in the Same Language

Article | April 6, 2020

What happens when third party fintechs try to access banking data on behalf of their consumers, but each way has a different way of doing so? That’s exactly what’s happening in the U.S. right now, and it’s a major factor in preventing the country from adopting an open banking culture. In an era when consumers conduct their banking activities with multiple providers, open banking not only safeguards consumer data but also places them in control of how they want their data used and for how long.

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Natural Language Processing Applications in Finance – 3 Current Applications

Article | February 26, 2020

Natural language processing, (NLP) is one AI technique that’s finding its way into a variety of verticals, but the finance industry is among the most interested in the business applications of NLP. In fact, according to our AI Opportunity Landscape research in banking, approximately 39% of the AI vendors in the banking industry offer solutions that involve NLP.

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The Asian Financial Services Industry Needs a Customer Data Platform

Article | December 10, 2020

Customers in the financial services industry want personalized experiences. They, in fact, expect and demand them from their service providers. They prefer to stay loyal to a company as long as they receive this special treatment. As a result, personalization has become the number one priority for marketers in the industry today. They are waking up to the realization that delivering personalized experiences highly depend on understanding customer data.marke Very few companies have the means to understand this data and use it to enrich the customer experience. The technology that has been recently making waves in every industry is known as the Customer Data Platform (CDP). A CDP is a packaged SaaS (software-as-a-service) product that is designed to build a unified customer database for an organization. Implementing a CDP can help achieve consistent customer engagement, increased loyalty, and higher sales. David Raab, CDP evangelist and Founder of the CDP Institute, was invited as a chief guest at the Customer Data Summit 2018 event organized by Lemnisk. David is a widely recognized thought leader in marketing technology and analytics. He was one of the first people to recognize that digital marketing systems were not just proliferating but also the data that these systems were throwing up were getting grouped into silos, making it really hard for marketers to understand customers holistically. David also realized that there was a tremendous opportunity if he could bring these disparate systems together. Around this insight, David coined the term CDP and founded his institute in 2016. The CDP Institute’s work has been seminal in helping marketers understand the need for a CDP and the ways that they can derive value from it. David’s thought-leadership session imparted the following key insights: The most challenging barrier to Marketing Automation success is data integration between the various marketing systems of an organization. Financial marketers in Asia face the same challenges as their peers elsewhere, which include unifying customer data, providing superior customer experience, working within compliance constraints, and finding the budget to pay for solutions. The CDP industry has seen a good growth rate of around 73% over the last 12 months. Two-thirds of the growth is attributed to new vendors and the remaining to existing vendors. The adoption rate has been high for B2C marketers as their businesses depend highly on user engagement and digital conversions. Companies that opt for a CDP prefer to have a complete packaged solution that includes the core CDP functionality along with analytics and engagement. A CDP works well when all marketing systems are interconnected. One interesting observation is that one-third of CDP users lack an integrated technology stack. Companies that claim to have a CDP do not have this system integration and, therefore, do not fall under the CDP-classified vendors. Things such as churn prediction and predictive modeling are a set of classic algorithms that thrive on good data. Artificial Intelligence (AI) is totally data-driven and works well with data that is highly detailed. A CDP can play a major role in developing custom algorithms and advanced intelligent systems such as AI. One of the things that it can do is create a standardized variable or model score and make that shareable to all systems that it connects to. Of its various capabilities, a CDP also enables cross-device personalization by associating each device with the customer’s master ID when they log in. The master ID is used to build a unified customer profile with all device data. The right message for each master ID is selected and shared with all devices. The unified and complete customer profiles help financial marketers in selecting the right message and deliver a consistent experience across all devices. It is still early days for a CDP in Asia. Many organizations are still at the stage of learning for themselves why options such as DMP (Data Management Platforms), Enterprise Data Warehouses, and marketing clouds won’t solve the problem that a CDP addresses. The core technologies used in Asian financial institutions can support any level of marketing sophistication that their users are ready to deploy. The early CDP adopters are touted to have an advantage over others in the industry.

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What is the difference between depreciation and amortization?

Article | August 7, 2020

Both depreciation and amortization are ways of expensing the cost of a business asset over its useful life period. When a company acquires a business asset, the complete cost of acquisition of the asset is not expensed at once, but proportionately based on the time period of their usage. In essence, both depreciation and amortization mean the same thing. While depreciation refers to the proportionate reduction in the cost of fixed assets or tangible assets over its lifespan. Fixed assets or tangible assets could include things such as a plant, machinery, tools, equipment, etc.

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Spotlight

Hellenic Bank

Hellenic Bank began is operations in 1976 and is now one of the leading financial institutions in Cyprus and one of the systemic Banks under the ECB’s direct supervision, providing Businesses and Financial Institutions with a full spectrum of banking products and services. Hellenic Bank has recently acquired certain assets and liabilities of the former CCB Bank, establishing it as the biggest retail Bank on the island. Hellenic Bank is at the forefront of financing the growth and transformation of the island’s most important industries. The Bank’s success is based on the customer centric service provided by its staff, the wide range of competitive products and services it offers and the use of advanced information and control systems.

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