The Future of Banking: In a Globalised World (The Wiley Finance Series)

The world of banking is changing dramatically as a result of regulation, technology and society. New developments in the past three years include advances in regulatory change, the impact of China and India; from the latest technologies to impact bank services, to the latest experiments with a cashless society. "The Future of Banking in a Globalised World" provides an entertaining yet informative look at the world of banking and chronicles the radical changes that have occurred in the industry over the past three years. Renowned analyst and international speaker, Chris Skinner assesses the trends that have occurred during the past three years and looks at predictions for the future of banking. Issues discussed include: the impact of emerging markets such as China and India; regulatory changes including Europe's Financial Services Action Plan, MiFID, SEPA, as well as the impact of Basel II and Sarbanes Oxley; the latest technologies to impact Bank services from algorithmic trading through Web 2.0; and the displacement of Cash and Cards through Contactless, Mobile and Biometric Payments The Future of Banking 4 Contents 10 Preface 12 Acknowledgements 14 About the Author 16 The Current State of Banking 18 Part 1 Global Issues 30 1 India and China’s Impact on Global Banking 32 2 The Road from Baghdad to Zurich 44 3 The Rise in Islamic Banking 48 4 Bankers versus Regulators: When Two Tribes Go to War 52 5 The European Union Unravels 58 6 Enterprise Change: The Age-Old Challenge 62 7 Demonstrating the Value of Technology 66 Part 2 Retail Banker’s Challenges 70 8 Strained Relationships 72 9 The Banks That Like to Say No 74 10 The Future is Video-Banking 80 11 Call Centre of the Future 84 12 The Big Issue – Fraud and Identity Theft 90 13 Channel Technologies Through 2015 96 14 Web 2.0 and Online Banking Technologies Through 2015 110 Part 3 Payments Challenges 122 15 The Cashless, Cardless Society 124 16 Corporates Demand Access 134 17 SWIFT Changes in Wholesale Payments 138 18 The Future of European Payments 144 Part 4 Investment Banker’s Challenges 152 19 Best Execution with Best Intentions 154 20 Make or Break for Europe’s Equities Markets 156 21 To Trade or Not to Trade? 164 22 Rising Risks in Options and Derivatives 168 SIBOS Blogs 172 SIBOS Blog 2005: Copenhagen, Denmark 174 SIBOS Blog 2006: Sydney, Australia 186 Appendix Original Articles 200 Index 206 Global issues India and China's impact on global banking The road from Baghdad to Zurich Faith in banking When two tribes go to war The European Union unravels What goes around comes around Place your bets Retail bank matters Strained relationships The banks that like to say no Edupyerryr syndrome Call centre of the future The big issue : fraud and identity theft Channel technologies through 2015 Administration technologies through 2015 Payments matters The cashless, cardless society Corporates demand access Swift changes in wholesale payments The future of Europe's payments Investment bank matters Best execution with best intentions Make or break for Europe's equity markets To trade or not to trade? Risky options. The world of banking is changing as a result of regulation, technology and society. This book assesses trends and looks at predictions for the future of banking, including: the impact of emerging markets; European regulatory change such as Basle II and the impact of SOXA; and, the technologies to impact bank services. This text chronicles the last three years in banking, assessing trends and looking at predictions for the future of banking