Monthly Archives: October 2014

Digital disruption is the new normal

By | Innovation | No Comments

Businesses have always been disrupted. There has always been the chance that your competitor might develop a new, better, or cheaper product (James Dyson did this with his cyclone vacuum technology and the Dollar Shave Club is currently trying to do this to Gillette with an innovative pricing model). And in recent years we have increasingly seen many instances where some young upstart has come along and created a new technology that fundamentally alters established business models or disintermediates existing brands from their customers (digital content distribution models such as Lovefilm and Amazon Kindle have contributed to the demise of…

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Why conduct risk means big culture change for banks

By | Banking & Finance, Conduct Risk | No Comments

Conduct risk is the latest buzzword in banking. Although there is no standard definition of conduct risk, it is now a regulatory requirement for UK financial services, and it broadly demands that organisations focus on fair customer outcomes and not just shareholder return. It means operating ethically and responsibly and having the customer’s interests at the heart of the business. Conduct risk requires moving beyond a box-ticking approach to operational risk. It requires re-alignment of corporate strategy and to these outcomes. It means ensuring that processes are optimised to deliver them. And it means ensuring that the culture of the…

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