SET Training - Banking and Fintech

- 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...

Introduction In an age where we’re constantly surrounded by “experts,” it’s natural to wonder: how much do they really know? We see experts making predictions, giving advice, and influencing decisions in almost every aspect of society—from economics to medicine to psychology. Yet, it often feels like their conclusions can be as variable as the weather, leaving us to question their credibility. Are experts truly experts, or is their authority overestimated? In a world where information is easy to access but difficult to validate, distinguishing between genuine expertise and overconfidence is more crucial than ever. This article explores what expertise is, how it varies across disciplines, and why a healthy dose of skepticism can be valuable when navigating fields marked by high levels of uncertainty. By understanding what constitutes expertise—and where it can falter—we can make better-informed decisions and cultivate a balanced view of expert opinions. The Nature of Expertise: Stabilit...

Artificial intelligence (AI) is transforming the banking industry, not just in customer-facing applications but also behind the scenes in operational risk management. While traditional methods focus on compliance and rule-based systems, AI offers a new frontier for proactive risk mitigation and intelligent response. This article explores five unconventional approaches that leverage AI's power to create a more dynamic and comprehensive risk management strategy: 1. The Conversational Comrade: AI Chatbots for Incident Response Imagine a tireless assistant, always available to guide staff through the initial stages of a security incident. AI-powered chatbots can be trained on historical data, regulations, and best practices to become valuable assets during critical moments. These chatbots can triage incoming reports, categorize them by severity, and offer step-by-step guidance on initial response protocols. Furthermore, they can facilitate root cause analysis by asking focused question...

Check out all my latest POSTS on banking, fintech, payments, risk management, AI and more on my LinkedIn page HERE Read my latest Articles at ' Stanley's Musings'  by clicking HERE     For details of my training courses click HERE

For the past year, generative AI has dominated discussions about how emerging technology stands to transform our lives, and the payments space has been a big part of the conversation. Though generative AI is a hot topic, the road to development is long. Along with the opportunities come notes of caution and warnings that this revolution may take a while. Read the full story HERE .

The payments landscape is evolving rapidly, and fast payment systems (FPS) have emerged as a key innovation. Jurisdictions differ in their approach to designing FPS and in user adoption.  In this article the authors lay out the main design features of FPS that may foster adoption. Cross-country regressions suggest that adoption of fast payments is greater when the public sector plays an active role in the FPS. Other design factors important for adoption are non-bank participation, more use cases and more cross-border connections. Read the full article HERE .

Artificial intelligence is transforming the banking industry, with far-reaching implications for traditional banks and neobanks alike. This transition from classic, data-driven AI to advanced, generative AI provides increased efficiency and client engagement never seen before in the banking sector.  According to McKinsey’s 2023 banking report , generative AI could enhance productivity in the banking sector by up to 5% and reduce global expenditures by up to $300 billion. But that’s not even half of the picture. Read the full story HERE .

"While every banking executive understands that generative AI will transform banking, few fully understand the potential scope of this change. With so much at stake, now is the time to create strategies and actions that can take advantage of the opportunities across the organization." Read more on the Financial Brand HERE .

The banking sector survived two big shocks in 2023: the collapse of Silicon Valley Bank and the disaster-driven sale of Credit Suisse. Swift action prevented a global economic crisis but threats remain

Thoughts on fintech, banking, payments, risk management, AI, going green, economics, business and much more… The latest edition is now available - HERE

A comprehensive examination involving more than 300 insiders from the banking industry worldwide reveals intriguing and sometimes conflicting viewpoints regarding the speed and nature of forthcoming changes in retail banking in the coming years. The 2024 Retail Banking Crystal Ball research initiative collected insights from major global and national banks, regional banks, community institutions, credit unions, fintech firms, vendors, and advisors across North America, Europe, Asia, and other regions. In an effort to address pressing questions confronting financial institutions as we transition into the new year, the Digital Banking Report sought input from industry professionals to outline their projections on what the future holds and when. The study delved into 14 perspectives, as depicted in the initial chart below, spanning four pivotal areas of banking: Competition and Consolidation Modern Technologies Payments Digital Transformation Read the full article HERE .

Check out my regular posts and articles on  STANLEY's MUSINGS . Thoughts on fintech, banking, payments, risk management, AI, going green, economics, business and much more... Regular posts on issues related to banking, fintech, blockchain,digital banking, payments, foreign exchange, technology, CBDC's and much more. Never miss a new posting. Subscribe now on the site.

S ince 2001 the Citadel Advantage Group (as Citadel Advantage Ltd. from 2001 to 2022 and as the Citadel Advantage Group since 2023) has been working with banks and financial institutions to make them safer and more profitable. International GRC & Operations Consulting Since our establishment in 2001, SET - Citadel Advantage Group has been dedicated to enhancing the safety and profitability of banks and financial institutions worldwide. Consulting and Training Excellence We specialize in guiding our clients through Governance, Risk Management, and Compliance (GRC) with a proven track record in consulting and training. Our focus extends to various core areas, including governance, compliance, operational risk management, payment and treasury systems, and operations/back office management. Professional Courses and Training Explore our wide array of professional courses and training programs that set us apart. As banking operations specialists, we provide a unique perspective derived f...

Credit card usage has become a prevalent financial tool for many individuals and businesses worldwide. A credit card allows one to borrow money from a financial institution, and instead of making cash payments, the amount owed is paid off in the future.  With virtually every major retailer accepting credit cards, usage has become more commonplace, and some benefits include convenience, rewards, and reliable financial protection.

As the use of ChatGPT and other large language models become more prevalent, there will be trouble. Forrester says eight neobanks and two large traditional banks will run afoul of regulators and consumers in 2024. Tightening up controls and compliance with those controls is a key starting point. Read more HERE .

Banks are deploying digital products and services at ever faster rates. Implementing any new technology can be a challenge if frontline staff isn't properly trained. The deployment of AI in particular can expose glaring gaps in skills and experience. If banks are going to succeed as digital tools proliferate, they need to identify and address employees' needs quickly and effectively. Check it out HERE .

Banking profits are up, thanks to rising interest rates, but financial institutions globally need to reinvent themselves in the face of major structural and macroeconomic shifts. Check out McKinsey's just published report HERE .  

The expectations for seamless customer service experiences have skyrocketed, and banking is not the only industry failing to deliver, as my recent attempt to resolve a problem with an airline demonstrates.  Companies simply cannot create an effective multichannel strategy for customer service when the channels where these interactions take place are largely siloed off from each other. Here are six components needed to ensure a seamless experience that leaves a lasting impression on customers and drives long-term growth. Read the full story on the Financial Brand HERE .