SET Training - Banking and Fintech

By Stanley Epstein -  Introduction The U.S. economy in 2025–2026 presents a mixed picture. Growth continues, but at a slower pace. Inflation has eased from prior peaks yet remains visible in essential goods. Confidence remains fragile. At the center of the debate lies trade policy — specifically the aggressive use of tariffs as a tool of economic “punishment.” The evidence suggests a sobering conclusion: broad tariffs have not delivered their stated macroeconomic goals and have instead imposed measurable costs on U.S. consumers and firms. The Current Economic Backdrop U.S. GDP expanded by approximately 2.2 percent in 2025, below historical long-run averages and slower than earlier post-pandemic growth phases. Official data from the Bureau of Economic Analysis confirms this moderation in output growth. See https://www.bea.gov . Job creation has softened relative to prior years, with uneven sectoral performance. Consumer confidence readings published by The Conference Board remain ...

By Stanley Epstein Artificial intelligence is no longer an experimental technology confined to innovation labs. It is embedded in credit decisions, fraud monitoring, customer service workflows, supply chain optimization, and marketing engines. Yet many organizations remain stuck in pilot mode. They run proofs of concept, showcase promising demos, and celebrate incremental wins. But few succeed in turning isolated experiments into enterprise-wide capabilities that consistently improve customer outcomes and operational performance. The difference lies not in algorithms, but in integration. This article examines how institutions move beyond AI hype and embed AI into operational workflows in ways that create measurable customer value at scale. From Experiments to Enterprise Capabilities Most organizations begin with AI pilots. A chatbot here. A fraud detection model there. A predictive churn model in marketing. According to McKinsey & Company , while AI adoption has accelerated globall...

The High-Speed Illusion To the average consumer, the act of paying has reached a state of near-magic. A biometric "tap", a mobile swipe, or a background process so integrated it feels invisible—the expectation is simplicity itself. This effortless front-end experience creates a powerful "High-Speed Illusion" of industry-wide mastery. Indeed, global executives perceive payments as the second most innovative industry on the planet (81%), trailing only information technology. However, as any strategic consultant will tell you, simplicity is often the most expensive thing to build. Beneath this "tap and go" surface lies a hidden friction. The industry is currently locked in a high-stakes "push-pull" struggle: the push of real-time rails and AI-driven convenience against the pull of rigid legacy debt and sophisticated fraud. To understand the future of money, we must look past the consumer interface and confront the internal paradoxes that separate th...

Global X’s report, “Charting Disruption – Outlook for 2026 and Beyond,” outlines the major disruptive technologies and structural shifts expected to shape global growth and investment over the next several years. At the center is the rapid advance and commercialization of Artificial Intelligence, which is driving an enormous buildout of high-performance chips and energy-hungry data centers. This surge in intelligence technologies is also accelerating adoption of Robotics and Physical AI in sectors from manufacturing and logistics to healthcare, while rising geopolitical tensions fuel a sharp increase in Defense Technology spending. The massive electricity needs of AI, electric vehicles, and global manufacturing reshoring require trillions of dollars in new infrastructure, particularly modernized power grids and expanded clean, reliable generation such as nuclear power. Meanwhile, soaring demand for foundational components is tightening supply of Critical Minerals. In parallel, breakthr...

  The BCI Horizon Scan Report 2025 looks at the complexity of the operating environment, providing a well-established benchmarking tool for both expert practitioners and newcomers to the business continuity and resilience industry. The report examines threats ranging from digital challenges and the adoption of new technologies to geopolitical changes and natural hazards, trying to capture the levels of current impact and future concern for practitioners. Furthermore, the results consider the effectiveness and the evolution of the techniques and tools that practitioners use to scan the risk and threat horizon. The rise of new technologies, such as artificial intelligence, is challenging traditional methodologies, but practitioner still see value in the interpersonal exchange of information.

In an era defined by volatility, organizations face a complex and unpredictable risk landscape. Leaders are constantly challenged to distinguish between headline-grabbing threats and the ground-level realities that truly disrupt operations. Navigating this environment requires clear, evidence-based insight into what is happening now and what is likely to happen next. The BCI Horizon Scan Report 2025 provides exactly that insight, delivering a crucial benchmark for resilience professionals worldwide. By combining quantitative survey data with in-depth interviews, the report uncovers a fascinating disconnect between what organizations perceive as their greatest future threats and the issues that are actually causing the most damage today. This post will distill the five most surprising and counterintuitive takeaways from the report. These findings challenge conventional wisdom about business risk and provide a practical guide for leaders seeking to build genuine, future-proof resilience....

  In an era of relentless disruption, the very definition of corporate survival is being rewritten in real time. For decades, business continuity was a back-office discipline of checklists and recovery plans. But a new, more dynamic vision of resilience is emerging from the fog of technological change and geopolitical uncertainty, and it demands a radical shift in our thinking. The Business Continuity Institute (BCI), a leading global authority, has pierced through the noise with its "Resilience Vision 2030 Report." Drawing on insights from over 200 professionals, this analysis is not another predictable forecast. It uncovers a series of surprising, counter-intuitive trends that will redefine what it means for any business to be built to last. The report’s core message is that the future of resilience is less about rigid plans and more about adaptive cultures; less about technical fixes and more about strategic influence. Here are the five most critical takeaways that will s...

A video overview charting the evolution of globalisation. Spanning the hyper-globalisation of the 1990s to the current era of “Slowbalisation”. This video from The Economist tracks shifts in trade flows, geopolitics , and popular discontent. It provides an unparalleled understanding of the forces driving deglobalisation, exploring how economic integration is being undone by political backlash and geopolitical tensions.

By Stanley Epstein -  Introduction: The Promise of Stability The financial world is buzzing with talk of stablecoins. It’s no longer a niche topic; major players like Citi, Visa, Stripe, and a growing number of large US banks are actively building platforms and exploring issuing their own. This isn't just experimental—the scale of the ambition is immense. Citi's CEO, Jane Fraser, recently forecasted that stablecoin issuance could surge to an astonishing $3.7 trillion by the end of the decade. At its core, the promise of a stablecoin is simple: to create a cryptocurrency with a stable price by pegging it to a real-world asset, most commonly the US dollar. This is meant to offer the benefits of digital currency—speed, accessibility, and transparency—without the wild price swings associated with assets like bitcoin. But beneath this straightforward promise lies a far more complex and surprising reality with profound consequences for the global financial system. The rapid growth of...

- By Stanley Epstein -  In 2024, the global banking sector achieved something unprecedented: it generated $1.2 trillion in profits, the highest total ever recorded for any industry. Return on Equity (ROE) hit a 20-year high. By all conventional measures, it was a banner year. Yet, beneath the surface of these record-breaking figures, capital markets are sending a clear message of deep scepticism. This scepticism is starkly visible in a massive valuation gap. Today, the banking sector is valued nearly 70 percent lower than the average of all other industries. Investors believe the recent profit surge was driven by temporary tailwinds and is fundamentally unsustainable. They see an industry struggling to find a new business model for the leaner years ahead. This profound disconnect between record performance and market pessimism signals that massive, underlying shifts are underway. A recent McKinsey report, the "Global Banking Annual Review 2025," digs into this paradox and unc...

- By Stanley Epstein - Why escalating cyberattacks, ICT vulnerabilities, and sophisticated fraud are now at the core of operational risk management across Europe’s financial sector. Introduction European banks have entered a new era of operational risk exposure — one dominated not by rogue traders or faulty models, but by invisible adversaries in cyberspace. As digitalisation accelerates and financial institutions migrate core processes to the cloud, operational resilience has become the defining risk management challenge of the decade. The European Banking Authority (EBA) now consistently identifies cyber and ICT (Information and Communication Technology systems) risk as the most critical operational risk facing the banking sector. Rising losses, growing dependence on external technology providers, and an intensifying threat environment underscore the urgency of this challenge. At the same time, fraud, conduct risk, and third-party dependency are converging with cyber threats, amplify...

By Stanley Epstein – We tap a card, wave a phone, or click a button, and money moves. This process has become so seamless, so integrated into our daily lives, that it's easy to overlook the colossal system working behind the scenes. But this seamless experience masks a tectonic shift. The very architecture of global finance is fracturing and re-forming, and the 2025 McKinsey Global Payments Report reveals a series of surprising shifts that will affect not just banks and tech companies, but everyone with a digital wallet. Here are the four most impactful truths from the report that are shaping the future of money. 1. The Hype is Over: Global Payments Growth is Hitting a Wall After a period of supercharged expansion, the global payments industry is experiencing a significant slowdown. While revenue surged by an impressive 12% in 2023, growth fell sharply to just 4% in 2024. According to the report, this deceleration is caused by four distinct factors: peaking interest rates, a more ...

Introduction: The Hidden Cost of a Cashless Future The advance of digital currencies is often presented as the next logical step in financial convenience—a seamless, efficient future. But what if this digital evolution comes with a hidden, non-negotiable price—our personal freedom? This article exposes four truths about Central Bank Digital Currencies (CBDCs), using the words of their own proponents to reveal an agenda not of convenience, but of absolute, programmable control. 1. Your Money Will No Longer Be Yours—It Will Be "Programmable" The core innovation of a CBDC is the concept of "programmable money." This means a central authority, such as a government or central bank, would have the ability to place rules, restrictions, and conditions directly onto your funds. Your money would no longer be a neutral tool for exchange but a permission-based token controlled by the state. This technology transforms personal assets into a state-managed voucher system. It could...

Central Bank Digital Currencies (CBDCs) are under fire in a new Gatestone Institute article, warning that they threaten personal and economic freedom. Economist Richard A. Werner calls CBDCs a 'digital prison', enabling totalitarian control over spending. With the EU pushing a Euro CBDC and concerns raised by the Bank for International Settlements’ Agustin Carstens about 'absolute control,' fears of abuse grow, pointing to Canada’s trucker account freezes as a chilling example. In the U.S., efforts by President Trump and the House aim to ban CBDCs, as the article argues they’re a globalist step toward unprecedented power and suppression of dissent."

- Stanley Epstein -   Introduction The common narrative around digital payments is one of solved problems and inevitable progress. We hear about a future that is instant, seamless, and entirely digital, and it’s easy to assume the financial industry is well on its way to delivering it. But a recent deep-dive into the state of the global payments ecosystem reveals a far more complex and surprising reality. These insights come from the "Payments 2030: What’s Shaping the Future?" report, based on a June 2025 survey of 162 senior financial executives conducted by Finextra Research in partnership with ACI Worldwide. The report uncovers the high-stakes conflict at the heart of the industry: the immense external pressure of customer demand crashing against the powerful internal inertia of legacy systems and reactive culture. This post distils the five most impactful takeaways from the report. They are not just interesting facts; they are crucial pieces of evidence that paint a pictu...