Banks  Develop technology to stay relevant   Banks are trying to catch up with the digitization wave by becoming more innovative and up-to-date in their customers’ lives amid competition with financial technology { fintech } player which offer easy payment features with less bureaucracy. Big banks do not hesitate to spend lavishly to develop digital platforms, which are expected  to help customers manage their finances. Some examples of this are private lenders Bank Tabungan Pensiunan Nasional (BTPN) and Bank Central Asia ( BCA) , both of which launched  new “keyboard” features in their mobile phone apps. Customers of BTPN and BCA do not need to operate Jenius or BCA mobile apps on their phones during banking transactions, meaning actions while chatting without the need to operate the BCA mobile app on their phones. BCA guaranteed the safety of its keyboard features as did not have a memory system that can record anything the customer types into their phones, said BCA vice president director Armand Hartono during a recent event in Tangerang, Banten. However, BCA keyboard is only available on Android…

The bankruptcy-prediction problem can be viewed as a problem of classification The decision tree is essential in an organization to specific departments; a marketing manager may wish to have a set of consumers who are likely to purchase his/her product. He/she can use the decision tree to acquire enough and large numbers of an audience while saving the marketing budget. Lenders’ managers are another department in an institution that can use the decision tree to categorize consumers into groups of non-potential and potential or risky or safe loan applications as a problem classification. The process of classification is a two-step, prediction, and learning step. In the learning stage, the model is created, relying on given training information. In the prediction stage, the model is used to forecast the reply of the provided information. Therefore, decision tree algorithms are one of the famous and most accessible classifications to interpret and understand. It can be employed for both regression and classification kind of difficulties. Decision Tree Algorithm A decision tree can be described as a flowchart like configuration where the most internal…

Management: Barring Bank Introduction and Case Highlights The collapse of Barring bank of London is a case revolving around poor operations risks controls that offered a platform for fraud by one of its employees. Leeson took advantage of deficient internal controls and risk management practices to execute his plan. Nick Leeson falsified the banks trading records and managed to use money meant for margin payments on another trading through the bank’s computer systems. The approach left the bank with massive losses to deal with owing to Leeson’s decision to misuse its derivatives trading operations. Leeson managed to hide his losses for sometimes in the eyes of other top managers through a fictitious account he labeled “88888” while posting profits on different trading accounts (Bair, 2015).  In any case, the Barring bank failure is a case in point that highlights the need to strengthen internal control systems in any institution. The case is worth studying since it offers vital insights on how lack of sound technological base can land an organization into serious problems. Technology plays a critical role in the…

The values of Lebanese Canadian Bank (LCB) for successful organizations Lebanese Canadian Bank (LCB) is performing exceptionally well for the last few years and setting the trend for the banking industry of Canada. The organization is considered as one of the most successful banking organizations of the twenty-first century. The values it has added to embrace that might be important for successful organizations in the twenty-first century are as follows: Networking: The bank has expanded its branches all over Canada with a strong network capability. It interconnects all the offices of the bank. It has helped the bank to serve the maximum number of customers. Top-quality banking facility has been expanded all around for more integrated customer services. Teamwork: LCB has implemented teamwork facility in the organization has maintained both the organizational culture and organizational behaviour. Consumers are getting more trendy and well-coordinated facility than previous. Enhancement in the equity share: The bank has increased its equity. Currently, it is offering more consumer-friendly services to the target consumers, along with various loan and investment facilities. Investment strategy: The company has…

E-Business Strategy and Models in Banks: Case of Citibank Case Study Questions: Analyze the Citibank value Chain. (3 Marks) Value chain analysis for Citibank Citibank, just like any other organization values chain analysis, is based on the element of the e-banking strategy for an organization. The bank does create value via the support and other aspects of its operations. In this case, the chain value analysis will majorly be based on the various elements of the bank operation, such as the use of technology, marketing and sales, general maintenance, and the features of the other infrastructure used by the organization. The application of the new method of technology in its operational procedures, primarily through E-business, has been the core tool by Citibank in the development of the relationship with the various shareholders.  There has seen the general productivity of the bank improves as most customers tend to associate with the latest or modern technology, which reduces the amount of tike that they spend in the banking activities (Abdullah et al., 2016). The different innovative e-banking solutions that the ban has…

Financial Markets and the European Central Bank Introduction The paper aims at analyzing the financial markets and the European Central Bank due to the recent credit crunch and recession in many economies that lead to the global financial crisis in both developed and developing countries. During a meeting with the council in 2006, most financial participants were not expecting any change in the European Central Bank rate. The announcement that came later suggested that there was to be no change in interest rates, thus making no change in the money interest rate in the market. The financial crises led accusations to the Central Bank and financial markets regulators, indicating that they were failing in their duty of protecting the depositors. The depositor’s made a comparison of the bank operation in the 1930s and recently, which shows that there was interest rates declination in a more significant margin never witnessed historically. The crisis also led to a decline in employment, economic growth while financial institutions run bankrupt, and others get nationalized as a means of rescue. The crisis acts as an…

The impact f forensic account on the financial performance of listed banks in Kenya- Case Study: Kenya Commercial Bank (KCB) Background information Forensic and investigative accounting can be defined as the application of financial skills and investigative mentality to unsolved issues, conducted within the context of the rule of evidence. According to Ng’ang’a (2015), it involves financial expertise and fraud knowledge and understanding of business realty and working of a legal framework. Generally, forensic audit is seen as a branch of accounting that is appropriate for legal review and pestering the top most level of assurance. A recent research by Onyango (2018) has proven that fraudulent activity among the commercial banks in Kenya have had a negative impact on the sustainability, viability and performance of such banks. As a result, the need for forensic accounting and audit has significantly own up to mitigate financial casualties among the listen banks in Kenya. Akelola (2015), asserts that most organizations’ audit system fail to detect certain errors in the managerial system. Additionally, more and more forensic accountants are being called up to thoroughly…

Application of Data mining in the banking sector Introduction Financial fraud is a growing concern with significant consequences within company organizations, finance trade, and governments. In the modern world, banks have been highly dependent on web technology, which has magnified financial and banking transactions. Nonetheless, fraud in the financial and banking sector has also increased with an increase in offline and online transactions. Since transactions have become more popular as a payment mode, there has been a growing focus on how to prevent fraud and its effect I the banking and financial sector. Data mining has led to establishments of various techniques that banks and financial organizations can use to hinder fraud. Data mining has offered different logarithms and techniques that aid in focusing on essential data patterns from banks’ databases hence hindering fraud activities. Application of Data mining in the banking sector The banking and financial industry has faced various changes in the manner of conducting business. The implementation of electronic banking has made it easy to capture transactional data simultaneously (Herawan and Deris, 2011). Data mining offers aid…

Banking royal commission http://www.abc.net.au/news/story-streams/banking-royal-commission/ Visit the page above and select one of the ASX listed companies being investigated by the Banking Royal Commission (for example AMP, BankWest, Suncorp for example, any but the Commonwealth Bank) and develop an ethical question based on an issue of your choice (for example: how people have been charged bank fees for an extended period of time after their passing, or how some funeral insurers have been operating and charging people),  after that you need to analyse the topic/company using the structure/ Marking Criteria provided in this document, as a summary see the three points below: Use stakeholder theory (chapter 3, Lecture 4) Provide arguments based on a “sufficient number” of theories of Corporate Governance, Corporate Social Responsibility (CSR) and/ or Creating Shared Value (CSV) to justify or criticise the actions and decisions taken while under the control of the board of directors. Analyse these decisions and actions using ethical as well as justice and economic distribution theories.[unique_solution] We expect that you demonstrate a well-developed ability to use critical thinking when analysing the topic and…

Central Bank of Somalia Training Institute   English Course   August- December 2018 Progress Report   Background   Second only to Mandarin, English with an approximated 1.2 billion speakers is one of the most popular languages in the world as at now. This translates to a rough estimate ratio of one to every seven people in the world who are able to comprehend some words of the language or have full knowledge of it which boldly translates into the importance of the language in the world. Besides its popularity, English language stands a proven diversification test as it is used in different fields ranging from learning purposes for students to commerce use for traders which implies that to a greater extent English language is key to the development of the education, tourism, technology, science, business, politics, culture, accounts and social networks, just to mention a few.   Many scholars such as Darrell Bricker, CEO of Ipsos Public Affairs, however, argue that English is the international language of business. Why? In support of their argument, these scholars believe that when companies…