Global Banking Directory
Press Release Distribution Service
Add Bank | Banking Forum | Scam Alerts!
Earn up to 36% APY on cryptocurrency deposits!
  • Blockchain Fest 2023
  • PPP MENA Forum 2023
  • INFOXIA - IXA Token
BanksDaily on Twitter BanksDaily on FaceBook BanksDaily on LinkedIn BanksDaily on Instagram

Financial and Banking News

Retail bankers want international banking standards

Retail bankers worldwide overwhelmingly support the UK banking standards initiative and want to see international banking standards introduced around the world, in a similar way to international accounting standards.

These are the major findings of an international survey of bankers carried out by Lafferty, the retail banking research house, and the Retail Banking Academy.

Over 80 percent of those surveyed want to see banking standards introduced covering ethical behaviour, the need for banks to have a relationship approach to customers rather than “product-pushing”, the obligation to act in a customer’s best interest, the obligation to access a customer’s overall needs and the necessity of treating customers and colleagues with respect, fairness and transparency.

A clear majority of bankers also believe that retail banking has many of the characteristics of an industry, separate from wholesale banking, that needs its own professional qualification, similar to lawyers and accountants. At the same time, there is very little support among those surveyed for bankers as a whole having a common professional qualification covering retail, corporate and investment banking.

Those surveyed also voted overwhelmingly in favour of an international banking standards body being based in London, with New York and Brussels following a long way behind.

Dick Harryvan, Co-chairman of the Academy commented "We believe the survey responses on the need for retail banking services to be delivered by professionals who are properly qualified are much more in tune with public opinion than might have been expected. These views need to be echoed in banks' management committees and boardrooms where Retail Bankers are often under-represented".

The Retail Banking Academy is the only educational body in the world offering specialised post-graduate training in the retail banking field. It was founded (as the International Academy of Retail Banking) with the objective of playing a leading role in the development and professionalisation of consumer-oriented retail banking across the world. The Academy believes that retail banking should be a recognised profession like accountancy and law.

Lafferty Group is a major provider of knowledge services – from benchmarking research and Councils to professional education – for the financial industry worldwide, with particular specialisations in the field of retail banking and cards and payments. The company’s International Academy of Retail Banking is a global educational and professional body for the retail banking industry and was created in the belief that retail banking should be a profession – like accountancy and law – and offers similar professional education programmes and examinations.

Source: RBA
Date: 14.11.2014 [339]

Financial and Banking News
 Blockchain Fest Singapore 2023 will be the largest event in Asia

FINEXPO is proud to bring Blockchain Fest 2023 to Marina Bay Sands Convention Center, Singapore, one of the biggest venues in Singapore. Singapore is the most crypto friendly environment and a real hub of modern financial Asia inviting companies from Europe and the world to join the event. 10.01.2023 | Source: FINEXPO

 Why is a white label digital bank the best solution for your business in 2022

In the era of media and technology, everything around us is digitized. After the COVID-19 breakout traditional banking actions were replaced or complemented with fintech services. According to the latest Harris polls and Plaid's survey, it has become paramount for 88% of American consumers' financial lives.

 JPMorgan becomes first major bank in the metaverse, opens lounge in Decentraland

JPMorgan has become the world’s first bank to set up shop in the metaverse. The largest bank in the US has opened a lounge in the blockchain-based world Decentraland.

 📰 News Archive
Get your content published on BanksDaily.com with the PrNews platform in just a few clicks.

2007-2023 © BanksDAILY.com | All Banks in One place