External News

The InsurTECH Book

We are proud that one of our partners, Dimitri Anagnostopoulos, contributed to the making of “The InsurTECH Book”, sharing experiences and opinions with other thought leaders in this space. The book offers essential updates, critical thinking and actionable insights globally from start-ups, incumbents, investors, tech companies, advisors and other partners in this evolving ecosystem, in one volume. For some, Insurance is either facing an existential threat; for others, it is a sector on the brink of transforming itself. Either way, business models, value chains, customer understanding and engagement, organisational structures and even what Insurance is for, is never going to be the same. Be informed, be part of it.

The relegated bank – a positive scenario?

In a recent paper, the Basel Committee on Banking Supervision (BCBS) identified a number of scenarios for the banking industry. Under one of the scenarios discussed (the relegated bank), banks are envisioned as the plumbers of the financial system: they become commoditised service providers, leaving customer ownership to new intermediaries such as fintech or bigtech companies. This scenario reads pretty catastrophic for incumbent banks and risky from a financial stability, consumer protection and data privacy point of view, at least based on the authors.

In this article I will argue why this may not be the case, drawing on past experience and parallels from insurance distribution models. In other words, I will suggest that bank executives should actively consider the “relegated bank” scenario as a potential option to be pursued to survive the disruptive wave of fintech and bigtech.

Credit Risk 2018 in Vienna

In our presentation at the Credit Risk 2018 conference in Vienna, we have discussed our view and market experience regarding the current status of IFRS 9 in the industry, challenges that the industry faces with respect to IFRS 9 and its integration into the bank’s ‘DNA’. Applying IFRS 9 impairment stress testing and forecasting as an example, we have discussed approaches and tools to overcome these challenges, to maximise the use of the new IFRS 9 landscape and align incentives under the IFRS 9 regime.

Contact us for a more detailed presentation: sonja.haug@tnp.eu

TRUE NORTH PARTNERS

We always strive for excellence in what we do

Internal News

CE Firm Day in Vienna, Austria | June 26 - 29

In June 2018, nearly all colleagues from Continental Europe as well as two “guests” from our South African office, took the chance to gather for a regional firm day in Vienna. Next to internal presentations, two trainer from London supported us in improving some of our soft skills. The evenings were filled with the soccer championship, good food, sightseeing in Vienna and a lot of chats with colleagues. We had a wonderful time together and are already looking forward to our next meeting!

Taste of South Africa | May 24

Working together – no problem at all. Cooking together – even better! Some of our South African colleagues accompanied with by some colleagues from Europe proved that we are a real team also beyond projects. After each group finished cooking (and baking!) two meals, we enjoyed a wonderful dinner buffet at the cookery.

TRUE NORTH PARTNERS

We always strive for excellence in what we do