Bjarne Tellmann is senior vice president and general counsel at GSK Consumer Healthcare, a joint venture that combines the consumer brands of GSK and Pfizer. He speaks to Global Finance about the intersectionality of his work.
Household saving is defined as the difference between a household’s disposable income and its expenditures on goods and services. During the pandemic it rose to historical highs everywhere.
On October 27, Global Finance conducted a Sub-custody Roundtable, moderated by publisher and editorial director Joseph Giarraputo. The Roundtable agenda covered crucial topics in the sub-custody sector including: the global and regional impact on the COVID-19 pandemic on sub-custodians; the effect ...
Innovation comes in many guises and serves many purposes. Innovation is used to address unmet customers needs, save time and effort and help banks cut costs and remain competitive. The disruption it has brought to financial services is ongoing, and will continue to evolve as banks and non-banks reshape their business and operating models to adapt to changes in the way people and organizations perform financial transactions.
Future possibilities are limited only by the imagination. A recent thought-leadership piece on operational open banking, produced by global financial industry consultancy GFT, states that in the digital age, technology is far more than a processing engine—it is the digital manifestation of a bank’s brand that supports all customer touchpoints. “Today, technology must do more than drive down processing costs and the cost of manufacturing financial products,” states the report. “Technology is at the heart of a great customer experience, which supports ‘life moments’ that have financial consequences—for example, a wedding, graduation or new job.”
Enabling life events rather than focusing on banking products lies at the heart of the evolving customer experience and explains why banks are increasingly turning to automation and data analytics to provide friction-free experiences. As well as updating banking processes, banks are creating chatboxes and robo-advisors to provide 24/7 interactions with their customers—which, in turn, gives banks even more contextual data and insights about their customers. Banks are also taking advantage of the webchat services offered by social media apps such as WhatsApp, Facebook Messenger and Twitter as they strive to provide innovative customer experiences and position themselves for the future.
Our Innovator honorees embrace new thinking while keeping a close eye on the ultimate purpose: providing superior service to customers.