Contents
In this issue
6 News in numbers The numbers and vital statistics impacting the sector.
8 Big interview
8 Banking on change From its founding in 2010, Metro Bank has done things differently. Eschewing many of the conventions of British finance, the institution has embraced such innovations as late opening hours and startup-led accelerator programmes. It feels fitting, therefore, that this new arrival on the country’s high streets should even have abandoned traditional job titles, with Faisal Hussain embracing both the chief information officer role – and that of chief transformation officer. Andrea Valentino catches up with Hussain to understand the reasoning behind his dual role, how it helps Metro Bank digitalise at speed, and why sociability and collaboration are hallmarks of his work.
Special report
12 Out of credit Once one of Europe’s premier banks, with a history stretching back more than 150 years, the humiliating collapse of Credit Suisse feels like a watershed moment in European banking. Yet if the final catastrophe was sudden, it’s clear that the Swiss institution was struggling for years, with spying and Covid scandals just
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two of its longstanding problems. How, then, did the bank survive unreformed for so long, especially in the post-2008 world? And does the debacle have broader implications for Swiss banking – a country long reliant on a reputation for sober probity? Ellys Woodhouse speaks to Marcel Rohner, chairman of the Swiss Bankers Association (SBA), and Arturo Bris, professor of finance at the International Institute for Management Development, to learn more.
Regional focus
16 Balancing profit and prudence
The German banking sector has long been seen as relatively staid. Cooperative and saving banks prevail, which hasn’t exactly made
them profitable – even if they do keep consumers safe. But how is the rise of neobanks affecting the overall picture? And as economic challenges continue to bite, how is their resilience being tested? Abi Millar discusses these questions with Katharina Lueth, chief client officer and managing director at Raisin, and a spokesperson from N26.
Data centres 19 Data with destiny
Amid a broader sustainability push, the European Union has been careful not to ignore the environmental impact of data centres. Enter the Code of Conduct for Energy Efficiency. First promulgated in the wake of the financial crisis, the regulations are still having an effect. And with Brussels expecting all European data centres to be completely carbon neutral by 2030, there’s evidence the code is going to only grow in importance. Phoebe Galbraith investigates, speaking to Paolo Bertoldi, senior expert at the European Commission Joint Research Centre (JRC) to find out more.
Digital banking
22 Going with the data flow In a country not renowned for embracing new technology, UniCredit is an outlier. As if a vast digital fund wasn’t enough, the Italian bank is rushing ahead to use data in increasingly sophisticated ways, ultimately creating what the
12 Future Banking /
www.nsbanking.com
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