The impact of the U.S. Labor Market on the currencies

| June 20, 2016

article image
The recent Non-Farm Payrolls sent USD down against the single currency by 1.9% on Friday. Even yen revolted, rose by 2.2%. The dollar chucked away its gain this year and returns to the level of December 3. Investors have been in a hurry to shuffle off the greenback before the weekend. The uprising euro postponed the dream-comes-true of Mario Draghi, who is looking for egalite et fraternite for EUR and USD...

Spotlight

TideRock Financial, LLC

TideRock Financial, LLC is an independent investment firm providing fee-only wealth management services to individuals and families, estate and heritage planning, as well as investment management for qualified company 401K plans.Our firm specializes in creating globally-diversified, tax efficient investment portfolios based on solid academic research and an in-depth analysis of economic, political and social developments around the world.

OTHER ARTICLES

Three Ways to Thrive in a Technology-Driven Financial Industry

Article | March 11, 2020

The banking and financial industry is changing at a blinding pace. Advancements in mobile payments, digital currencies, blockchain and innovative lending strategies are causing a radical shift and have challenged nearly every established convention. These new financial technologies (known collectively as “fintech”) are giving rise to new jobs while also changing existing roles and completely displacing some positions in the industry.

Read More

Machine Learning for Financial Services: Hype or Reality?

Article | March 8, 2020

There’s an ongoing debate as to whether new trends in machine learning are mere hype or are actually providing tangible business value and helping shape financial services pricing and offering strategies. A survey of about 200 global insurance professionals conducted by Earnix in 2017 showed that more than half of the respondents are using machine learning technologies in their business. At the same time, only 14% view machine learning as a core strategy that all areas of the company are encouraged to use.

Read More

The 2020 Trends Defining the Banking and Payments Industry

Article | March 2, 2020

A number of key benefits pertaining to banking in the cloud are now widely acknowledged – from scalability, agility and security to future proofing and (perhaps the most significant of all) cost efficiency. So, while the debate around whether cloud needs to be a part of a payments players’ future strategy is well settled now, it does not mean that when it comes to cloud payments “one-size-fits-all”. In fact, it’s quite the opposite.

Read More

Digital Transformation Of Finance Team - Get Better Agility While Doing Business In Tough Times

Article | September 14, 2021

Digital transformation had a huge impact on every sector, and this includes finance. Digital disruption in finance can be defined as an event where new technologies replace traditional methods for financial transactions. This article will discuss how technology for finance has changed over time, why it's vital to stay current with digital trends, and what you need to do to make your company ready for the future! Make plans for the coming age of Digital Transformation The finance team has traditionally used tools like spreadsheets, reports, and presentations to managing its processes. However, digital disruption in finance is creating new challenges for the finance department because of these changes - they need to learn how to use technology effectively or risk getting left behind! Here are some examples demonstrating why digital transformation of your company's financial processes can be beneficial. Digital transformation gives the finance team access to better systems to help them do their jobs more efficiently and effectively. Digital transformation gives the finance team access to better tools that will allow them to be more agile and deliver new services for their clients. Digital transformation saves money for the company because new technology is cheaper than old technology like spreadsheets and presentations. As such, if you want your company ready for the future, make sure your finance department is aware of digital trends and knows how it can integrate new technology into its workflows. Prepare for a transaction revolution as automation and blockchain infiltrate further into the financial process: While financial institutions have been working on transformation plans for many years, the recent cryptocurrency and blockchain revolution indicates that things are moving faster than ever before. As a result, banks are starting to understand that they need to be open to new technologies and ways of working to stay relevant in their industries and attract new clients. Financial institutions need to brainstorm new ideas and innovative ways of working that will allow them to be relevant in today's market while at the same time applying technology in ways that facilitate faster and safer processes. Financial Institution's role in Digital Transformation: Now that most finance processes are automated, the finance industry will provide more business insights and services. Of course, success is not a certainty, but digital marketing for financial services can get more focused and accurate. In essence, FinTech technology will improve financial management and help production. It can do this by rethinking procedures, breaking formats (finance is a chaotic environment), streamlining reporting, and endorsing transactions with a better data set. As a result, businesses may find themselves better placed to make long-term decisions and do not require immediate cash flows. The key question is whether financial technology can deliver on these promises in a way that provides real benefits for customers and shareholders while being price-insensitive enough to be affordable for all. The way for financial teams to be agile: Although digital transformation is a competency within finance, most bankers still focus on software development and hopping from platform to platform. One of the biggest problems in overcoming this difficulty is the lack of a common language. An effective digital transformation strategy requires the sharing of data - including between departments. Sharing information enables agility because it allows each team to understand their strengths and weaknesses more clearly. It also enables cross-functional teams that can reach out to business partners outside their core business functions when necessary or to solve problems outside their domain of specialty. The transformation can also help in creating compelling promotions and creating persuasive advertisements for your financial services. "As workplaces start to open, a hybrid model—seems to be a new norm that provides flexibility for people to operate both from their homes and offices, as we emerge out of the pandemic period." -Vishal Srivastava, Vice President (Model Validation) at Citi A more adaptable future in digital transformation for FinTech Several banks and financial institutions are making it a point to associate themselves with technological innovation. Recent data shows that nearly half of financial institutions worldwide have made some sort of digital transformation in the past five years – from transaction processing to customer relationship management. Increasingly, these institutions are looking to the future and thinking about using technology to transform how they do business. Digital transformation of finance is just one of the many buzzwords we're hearing from financial institutions right now. Financial institutions need to stay connected and relevant in an increasingly competitive marketplace by designing financial products and services that meet their changing demands. Cloud computing for a more agile future What's more, the shift means businesses can scale faster using the cloud--perhaps even more effectively--than before. The momentum behind the online collaboration, instant messaging, and Web browsing has only accelerated in the past few years -- threatening to upend the very foundations on which many large companies have built their business models. This shift means banks will need to find new ways to stay competitive and fast. Tech giants such as Amazon, Microsoft, and Google make significant inroads with cloud technology into innovative services and products into the bank space. We'll see if they also can help shake up the way work gets done -- either here or in offices around the world, as migrating infrastructure to the cloud enhances access, flexibility, and scalability for both FinTechs and banking giants. Conclusion The current financial crisis has led to a re-examination of traditional finance models and ways of working. One area that has gained particular attention is the digital transformation of finance teams. The potential impact of digital transformation on finance is intense. If well-timed, it may help finance organizations attract and retain talented employees while reducing operating costs and enhancing returns on investment in core operations. FAQs: What are the four main areas of digital transformation? Digital transformation is a broad term that generally refers to an increase in efficiency across many business functions using technologies such as software applications, data analysis techniques, networks, and infrastructure. To achieve digital transformation, the organization needs to rethink many core processes while integrating new technologies. In addition, there are challenges associated with changing from an existing model and overcoming internal resistance. What is the future of finance? The future of finance is in changing the way companies raise money for new ventures and how financiers themselves manage their portfolios. Fundamental changes include using technology that helps investors access data and choose more suitable investments, better deals, and structures for companies that now seek to raise money from multiple sources rather than just raising an individual round. What are the top technologies for finance? Technologies used in the financial services sector have become so integrated that it is difficult to understand their impact on a business or industry. Nevertheless, here are some of the emerging technologies that are in use right now: Hybrid Cloud Servers Blockchain Artificial Intelligence Robotic Process Automation Data Analytics Cybersecurity { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the four main areas of digital transformation?", "acceptedAnswer": { "@type": "Answer", "text": "Digital transformation is a broad term that generally refers to an increase in efficiency across many business functions using technologies such as software applications, data analysis techniques, networks, and infrastructure. To achieve digital transformation, the organization needs to rethink many core processes while integrating new technologies. In addition, there are challenges associated with changing from an existing model and overcoming internal resistance" } },{ "@type": "Question", "name": "What is the future of finance?", "acceptedAnswer": { "@type": "Answer", "text": "The future of finance is in changing the way companies raise money for new ventures and how financiers themselves manage their portfolios. Fundamental changes include using technology that helps investors access data and choose more suitable investments, better deals, and structures for companies that now seek to raise money from multiple sources rather than just raising an individual round." } },{ "@type": "Question", "name": "What are the top technologies for finance?", "acceptedAnswer": { "@type": "Answer", "text": "Technologies used in the financial services sector have become so integrated that it is difficult to understand their impact on a business or industry. Nevertheless, here are some of the emerging technologies that are in use right now: Hybrid Cloud Servers Blockchain Artificial Intelligence Robotic Process Automation Data Analytics Cybersecurity" } }] }

Read More

Spotlight

TideRock Financial, LLC

TideRock Financial, LLC is an independent investment firm providing fee-only wealth management services to individuals and families, estate and heritage planning, as well as investment management for qualified company 401K plans.Our firm specializes in creating globally-diversified, tax efficient investment portfolios based on solid academic research and an in-depth analysis of economic, political and social developments around the world.

Events