From the editor On the web...


Keep up with the latest developments across the industry by visiting www.nsbanking.com


Future Banking Winter 2023


Editorial Editor Andrea Valentino Sub-editor Pete Barden Production manager Dave Stanford Designer Martin Faulkner Group art director Henrik Williams Head of content Jake Sharp


Commercial Client services executive Derek Deschamps


Publication manager Sanjeev Dole sanjeev.dole@progressivemediainternational.com Co-publisher Christopher Watts Managing director William Crocker


Future Banking is published by Progressive Media International, which is a member of the Audit Bureau of Circulations.


www.ns-businesshub.com Registered in England No. 06212740.


ISSN 2041-2428 © 2023


All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, photocopying or otherwise, without prior permission of the publisher and copyright owner. While every effort has been made to ensure the accuracy of the information in this publication, the publisher accepts no responsibility for errors or omissions. The products and services advertised are those of individual authors and are not necessarily endorsed by or connected with the publisher.


The opinions expressed in the articles within this publication are those of individual authors and not necessarily those of the publisher. The 2022 US annual subscription price for Future Banking is $118. Airfreight and mailing in the US by agent named Air Business, c/o WorldNet Shipping Inc, 156–15, 146th Avenue, 2nd Floor, Jamaica, New York, NY11434, US.


Periodicals postage pending at Jamaica NY 11431. US Postmaster: Send address changes to Future Banking c/o Air Business, c/o WorldNet Shipping Inc, 156–15, 146th Avenue, 2nd Floor, Jamaica, New York NY 11434 US.


Subscription records are maintained at Progressive Media International.


Air Business Ltd is acting as our mailing agent.


SUBSCRIPTIONS Single issue price: UK £44 EU €68 US $89 RoW $89 One year:


Two year: Email: cs@progressivemediainternational.com


40–42 Hatton Garden, London, EC1N 8EB, UK. Tel: +44 20 7936 6400 Fax: +44 7724 9800


Printed by Stephens & George Print Group Images used under licence from Shutterstock.com


igitalisation. Sustainability. Fraud. Spend enough time studying global banking and these terms can sometimes blur together, becoming mere buzzwords even as the problems they represent remain unchanged. I say sometimes, because there are equally moments when the pace of change, and the opportunities to transform the sector forever, become brilliantly and bewilderingly apparent.


Play it again D


The past few months are surely a case in point. Think, to give one example, on the question of sustainability. With revolutionary new EU regulation finally making its way through the European Parliament, banks across the bloc must fundamentally alter how they think about investments and suppliers. The same is true with fraud. Online criminals have, of course, blighted the sector for years – but artificial intelligence now promises to upend the long-standing assumptions of chief security officers at a stroke. This edition of Future Banking examines these revolutions. As I just suggested, fraud and regulation are two areas of focus here. Tallha Abdulrazaq, for his part, tackles the remarkable power of AI to outsmart criminals, and the ability of ones-and-zeros to befuddle in their turn. Not to be outdone, Phoebe Galbraith examines how the EU Taxonomy Climate Delegated Act is forcing chief sustainability officers to grapple with everything from reporting measurements to waste management.


Digitalisation, that third favourite of the press office statement, is another pillar of this edition. Once again, there is plenty of evidence that the current age really is special: just consider the power of new technology across German banking, as vividly explored by Abi Millar, or else how Metro Bank’s CIO is leveraging fresh new startups in an era of transition. As that last point implies, meanwhile, not every change is necessarily welcome. For if Metro Bank is struggling to balance the books, Ellys Woodhouse examines how the once- mighty Credit Suisse collapsed altogether. Whatever the temptation, in short, we haven’t quite reached the end of banking history just yet, for better or for worse.


Andrea Valentino, editor


UK £67 EU €102 US $134 RoW $134 UK £104 EU €163 US $214 RoW $215


Future Banking / www.nsbanking.com


3


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53