Rosita Najmi’s Post

UK financial services firms have identified their leading priorities for both business strategy and investment in 2024 and beyond, according to a new survey of opinion formers in the sector... To get the low-down, click below 👇 #Tech | #News

Happy to share that our latest article titled "Evaluating the moderating role of governance on the relationships between social inclusion, ICT infrastructure, and financial inclusion" has been published in Heliyon-Finance [IF 3.4, Scopus, SCIE]. In this paper, we examine the moderating role of governance on the relationships between social inclusion (SI), Information and communication technology infrastructure (ICT), and financial inclusion (FI) in 46 countries representing a global sample span from 2010 to 2020. We collect the data from the IMF's financial access survey and construct a multidimensional FI index. Based on the FI index, we divide the sample into two sub-samples (med-high level and low-level FI countries). For the empirics, we employed panel-corrected standard errors, fully modified ordinary least squares and dynamic ordinary least squares techniques. We find that SI is negatively related to FI. ICT infrastructure positively influences FI. Further, we find that governance with sound ICT infrastructure and socially inclusive communities enhances FI. The findings of sub-samples are similar to the full sample results except for a promoting effect of SI and governance in the case of med-high financially inclusive economies. Moreover, the Interaction term of governance and ICT infrastructure is insignificant in med-high financially inclusive economies and negatively significant in low financially inclusive economies. Our study reports novel findings which have significant implications for policymakers and financial institutions to effectively develop and implement new policies which strengthen the institutional base, develop digital banking infrastructure, enhance SI to boost up FI and ensure sustainable economic growth.

UK financial services firms have identified their leading priorities for both business strategy and investment in 2024 and beyond, according to a new survey of opinion formers in the sector... To get the low down, click below 👇 #Tech | #News

In this blog, ‘Maintaining Operational Resilience in a Changing Finance Sector’ we discuss how the Finance sector must be prepared to work with their trusted technology partners to ensure their underlying technology infrastructure helps them maintain the leading edge in the years ahead. Read the full blog here: https://bit.ly/3qAO1PS #financesector #technology #infrastructure #operationalresilience #newblog #blog

Five fundamentals for any digital transformation in financial services https://lnkd.in/eEjCsWce | From Consultancy #DigitalTransformation

Five fundamentals for any digital transformation in financial services https://lnkd.in/eEjCsWce via Consultancy.uk

'... governments now compete to create and maintain the networks that deliver essential services ... A country’s power hinges on its ability to influence and manage this vast set of systems ... corporations, technology, and environmental conditions combine and interact with governments to shape world order. '... first, reorganize their thinking to account for the complex material and technological interconnections that underlie geopolitical conflicts and, second, work with a new set of power brokers ... [I disagree re said power brokers being 'new'.] 'These networks are not naturally occurring, but constructed and maintained through hundreds of intermediaries, technological systems, and processes. '... entrepreneurs, investors, or consultants are often every bit as relevant as political officials. 'It is often the second-order relationships—the enduring work of maintenance firms, financial agents, and ancillary services—that transform isolated procurement contracts into durable connections. 'Meaningful control depends not just on the nationality of, say, a software platform’s owner, but also on the functionality of that platform, whom it empowers, and what activities it precludes or enables. [CORPORATE GOVERNANCE TOO, BABY!] '... a thicket of strategies to ensure that critical networks such as shipping and payment systems are anchored to market relationships, norms, and regulatory systems that provide transparency and accountability. 'The mere act of building infrastructure does not predetermine how societies will adopt it. 'For the United States to compete more ably on these terms, policymakers must become attuned to implementation, long-term management, and oversight of modern societies’ hardwiring. 'First, policymakers must focus on governance [!!!] more than governments ... identify the gatekeepers, designers, financiers, and implementers who control different layers of service delivery ... working with insurers, shippers, cable operators, and others to protect critical infrastructure. 'States will play a leading role in an infrastructural order, but they must learn to work with new partners and traditional adversaries in novel ways. '... battles over standards will likely escalate in the coming years, and places and entities that can work as trusted intermediaries will become more essential. [Like India.] '... today’s infrastructure is too multifaceted, layered, and interconnected for any one state to truly control it ... political leaders to find new ways to collaborate with the entrepreneurs, builders, bankers, and operators who manage the interdependent systems ...' This piece is basically most of my thesis - CNI MATTERS AND IS INTERCONNECTED WITH OTHER CNI. It also harks back to the importance of corporate governance-->law. And Gunningham's concept of smart regulation, whereby the state has to draft in third parties as surrogate regulators, that is, 'enrol' them into the regulatory fold. https://archive.md/vKrSR

The U.S. federal government's Technology Modernization Fund (TMF) was established in 2018 to facilitate agency modernization by using a revolving fund structure replenished through cost savings. However, a recent Government Accountability Office (GAO) report reveals that, despite substantial planned cost savings, the actual savings from the TMF's investments have been slow and minimal. As of February, $636 million had been awarded to 37 projects, with only eight projects generating $14.8 million in savings. Some funded projects aren't predicting or realizing any savings. The GAO has previously critiqued TMF operations for exceeding expenses and unreliable savings estimates. Lawmakers are considering reforms, with a bipartisan proposal aiming to reauthorize the TMF legislation through fiscal year 2030. Despite facing skepticism on Capitol Hill, some agencies argue that TMF funding accelerates critical initiatives, such as cybersecurity projects, even if direct cost savings may be modest. Funding requests for TMF have faced challenges in Congress, highlighting ongoing debates about the fund's management and oversight. #TMFChallenges #FederalTechInvest #GAOInsights #GovtModernization

The UK financial services industry have identified digitalisation and automation as their leading priorities for both business strategy and investment in 2024 and beyond: https://bit.ly/3HeaDKD #financial services #digitaltransformation

More countries around the world are building their DPI to expand economic opportunity. As leaders consider how best to achieve progress, the evidence is clear that these investments can create a more inclusive financial system, equip more people with the tools they need to thrive, and build a more sustainable and inclusive world for future generations. https://lnkd.in/dz2i7tXZ