Cedar Podcasts

In the face of rising geopolitical risks, banking technology is experiencing unprecedented pressure. In this CedarView Podcast episode, we unlock how banks must adjust their technology strategies to maintain operations and mitigate new risks, including cyber threats & supply chain disruptions.We cover practical strategies for resilience, such as strengthening business continuity plans and securing payment infrastructure. The conversation also explores the growing importance of stress-testing systems for simultaneous disruptions and adapting fraud detection to new challenges. Banks that take action now to safeguard their operations will be in the best position to thrive in uncertain times. Tune in for insights on turning technology challenges into long-term strengths during times of disruption.

In this episode, we dive into the evolving role of leadership during times of geopolitical instability. We discuss how businesses can build resilience through proactive strategies and forward-thinking planning. With risk levels rising globally, companies must act swiftly to secure their financial stability, maintain customer trust, and redesign supply chains for durability.The conversation emphasizes key strategies such as enhancing liquidity visibility, protecting core capabilities, and driving proactive communication with stakeholders. Leaders must also anticipate future opportunities, from new trade routes to talent acquisition, ensuring their organizations are ready to thrive amidst disruption.Tune in to understand how effective leadership can turn today's challenges into tomorrow’s growth opportunities.

In this episode, we explore how geopolitical tensions in West Asia are reshaping the operating environment for banks across the region. Energy shocks, trade disruptions, and rising logistics costs are already affecting liquidity, funding, and credit flows, while sectors such as shipping, aviation, retail, and real estate face immediate pressure - creating ripple effects across bank balance sheets.We unpack how stress is emerging on both sides of banking operations: asset quality is impacted by disrupted supply chains and corporate cash-flow strain, while liabilities face volatility due to mobile deposits and shifting investor sentiment. The episode concludes with a strategic playbook for banks - focusing on liquidity readiness, digital resilience, proactive risk monitoring, and stronger client engagement to help navigate uncertainty and prepare for recovery.

Two pillars consistently determine the success of change initiatives: Impact Assessment and Communication Strategy.Clarity begins with impact. Through structured workshops with departments and process owners, we define what will change, how responsibilities will evolve, and which personas will be affected. This results in a formal Impact Assessment Report outlining key changes and training priorities.Communication must then be intentional, not reactive. Messages should be crafted with precision, delivered through appropriate channels, and validated for clarity and accuracy before release.When impact is clearly defined and communication is disciplined, change ceases to feel ambiguous. It becomes structured, understood and significantly more likely to be adopted successfully across the organisation.

Training strategy and data-driven reporting must operate as an integrated system in effective change management. Training cannot be generic — it needs clear ownership, structure and alignment to impact. We define accountability carefully, with Learning & Development leading process training and software suppliers delivering technical capability.The approach is tailored based on impact assessments, user personas and rollout timelines, ensuring clarity and execution discipline.However, training alone does not confirm adoption. Data-driven reporting validates progress by measuring both perception through surveys and behaviour through attendance metrics and system usage data.This feedback loop is critical. It ensures change is not simply communicated or trained, but embedded into daily operations and sustained through measurable behavioural outcomes.

Reporting is what converts change from intention into measurable outcomes. Training alone does not ensure adoption — it must be tracked, validated and analysed.We focus on two essential reporting streams. Training Surveys measure understanding, attendance and pain points, helping determine whether learning has genuinely landed. The Solution Adoption Report goes further, tracking behavioural data such as system usage hours, transaction volumes and engagement levels.These insights give leadership clear visibility into adoption trends and early warning signals in low-engagement areas. Change management is incomplete until behavioural shifts are measurable. Structured reporting ensures that awareness and training translate into sustained system usage and tangible long-term value.

Sanjiv Anand, Chairman, Cedar Management Consulting InternationalIn this episode, I describe corporate restructuring as the equivalent of open-heart surgery for a business — high stakes, precise and unforgiving. The first principle I stress is simple: structure must always follow strategy, never individual egos or internal politics.I explain why restructuring must be decisive and swift. Once the strategic direction is clear, design should be tightly held, execution rapid, and new roles assigned immediate performance targets. Prolonged transitions only create anxiety and resistance.I also caution that restructuring without layoffs is very different from restructuring with job cuts — the latter requires a far more sensitive and deliberate approach.Ultimately, restructuring is not about moving boxes on an organisation chart. It is about realigning the business to its strategy to ensure long-term survival and competitiveness.

Sanjiv Anand, Chairman, Cedar Management Consulting InternationalIn this episode, I speak about how organisational structure can quietly become an obstacle to performance. I often describe it as “structure and musical chairs” — where roles are designed around personalities and egos rather than business strategy. Structure must always reflect strategy, never accommodate individuals.I also discuss span of control. In my experience, a CEO should ideally have 8 to 10 direct reports. Beyond that, decision-making slows and the CEO becomes a bottleneck.I emphasise giving strategic business units real authority and caution against overly complex matrix reporting structures that create confusion. Stability in structure builds clarity and accountability. If an organisation is constantly restructuring, it is often a symptom of deeper strategic uncertainty — not a solution in itself.

Sanjiv Anand, Chairman, Cedar Management Consulting InternationalIn this episode, I share five critical pillars that I believe every CEO must personally lead when shaping their organisation’s people strategy. First, I discuss why organisational structure must be designed around business strategy, not individual personalities. Second, I explain how compensation frameworks should reward strategic performance through meaningful variable pay. Third, I introduce what I call the “hit by the bus list” ensuring immediate successors are ready for every critical leadership role. I also speak about culture, not as a set of values on paper, but as behaviour demonstrated daily by leadership. Finally, I emphasise the importance of direct, unfiltered communication with employees through forums such as monthly town halls, which I see as essential to building trust and alignment. These five pillars are, in my view, fundamental to building a resilient, high-performing organisation.

Sanjiv Anand, Chairman, Cedar Management Consulting InternationalIn this episode, I speak candidly about the challenge of work–life balance for senior executives. Over the years, I have seen many leaders express regret about not spending enough time with their families. Success at work should not come at the cost of personal fulfilment.I share practical disciplines I believe in — working smart by prioritising what truly matters, delegating effectively, and limiting distractions such as unnecessary emails. Leaders must make conscious choices: get home on time, protect weekends, and take full holiday entitlement. For those who travel frequently, plan schedules to maximise family time and disconnect when you can.Most importantly, do not let devices control your life. Leadership is not only about serving shareholders — it is also about honouring the moments that truly matter.

Sanjiv Anand, Chairman, Cedar Management Consulting InternationalIn this episode, I outline the critical HR priorities that I believe every CEO must personally lead. First, organisational structure must be aligned to strategy — it cannot be delegated blindly to HR. Structure is a strategic decision.On compensation, I emphasise the growing importance of performance-linked variable pay to meet market realities. I also discuss succession planning through what I call the “hit-by-the-bus list,” ensuring immediate backups for every critical role.Culture, in my view, is not defined by posters but by behaviour at the top. CEOs must model and reward what they expect. Finally, I highlight the importance of direct communication — particularly regular town halls — to build trust, alignment and leadership credibility across the organisation.

Sanjiv Anand, Chairman, Cedar Management Consulting InternationalIn this episode, I speak about the evolving role of Boards of Directors in human capital management. In my view, boards can no longer remain distant from people strategy. Their most critical decision is the selection of the CEO — and that choice must reflect the organisation’s immediate need, whether transformation, stabilisation or growth.I also caution against allowing incoming CEOs to bring an entire “mafia” of loyalists, as this can destabilise culture and dilute institutional continuity. Compensation structures, including meaningful variable pay and ESOPs, must be designed to drive strategic performance, not entitlement.Ultimately, culture begins at the board level. As organisations across Asia and the Middle East mature, boards will play an increasingly active role in HR governance and long-term leadership alignment.

Communication in change management must be treated as a strategic lever, not a one-time announcement. The goal is to move people from awareness to adoption — and that demands sustained, deliberate messaging.We work across two layers. General communication keeps the entire organisation aligned on objectives, milestones and progress through town halls, leadership updates and formal channels. Targeted communication, often led by Change Agents, focuses on specific user groups directly affected — particularly during testing and pre-go-live phases.The discipline lies in ensuring the right message reaches the right audience at the right time. When communication is structured and consistent, uncertainty declines, confidence increases and adoption accelerates across the organisation.

Measuring readiness throughout the change journey is essential. We use what we call ADKAR Temperature Checks — a practical mechanism to assess emotional and behavioural progress at defined milestones, rather than waiting until go-live to uncover issues.At each phase, the focus evolves. In the early stages, we assess Awareness and Desire. During testing, we evaluate Knowledge and Ability. After go-live, attention shifts to Reinforcement.These temperature checks create a continuous feedback loop. They surface readiness gaps early, enabling leadership to strengthen communication, refine training or increase sponsorship where required. Change should never be treated as a one-time event — it must be measured, recalibrated and reinforced to ensure sustained adoption and long-term impact.

Effective change requires disciplined stakeholder engagement. Not all stakeholders demand the same intensity of focus — engagement must be deliberate and prioritised.We categorise stakeholders into four groups. Q1 stakeholders are both highly influential and significantly impacted; they require early and sustained engagement. Q2 stakeholders are impacted but less influential, calling for proactive communication and reassurance. Q3 stakeholders have minimal influence and impact, where broad updates are sufficient. Q4 stakeholders hold influence but face limited direct impact — their concerns must be anticipated to prevent future resistance.Mapping these groups on an influence–interest matrix allows leadership to allocate effort strategically. Structured engagement reduces surprises and ensures that change is actively supported rather than quietly resisted.

Training is what ultimately converts change into capability. Creating awareness is only the first step; people must feel confident operating in the new environment if transformation is to succeed.We distinguish between two critical forms of training. Functional training focuses on how to use the system and is often delivered by the software provider. Process training, led by Learning & Development, clarifies how workflows, responsibilities and controls will evolve. Both dimensions are essential.Structured training moves an organisation from understanding to execution. It closes the gap between awareness and ability. Without it, change remains conceptual. With it, change becomes operational, measurable and embedded into daily performance.

Impact assessment is, in our view, one of the most critical disciplines in effective change management. It is the point where strategy meets operational reality. Before any rollout, we must clearly understand how a new system or process will affect specific users and business units.We evaluate impact across three dimensions: the type of change, the training required, and the level of impact — high, medium or low. High-impact areas require structured training and frequent communication, while lower-impact areas demand lighter, more targeted interventions.This discipline ensures that the right people receive the right preparation at the right time. Without impact assessment, change becomes disruptive and reactive. With it, change becomes structured, focused and measurable — significantly increasing the probability of success.

At Cedar Management Consulting International, we approach Change Management as a coordinated, multi-stakeholder discipline — never the responsibility of a single department. At the centre is the CM team, accountable for planning, sequencing and tracking the entire change journey. But structure alone does not drive adoption.We place strong emphasis on Change Agents embedded within the organisation, bridging strategy and frontline reality. Marketing plays a vital role in delivering clear, consistent messaging, while Learning & Development equips teams with the capabilities required for operational change.Our objective is clear: enable structured adoption, minimise resistance and accelerate value realisation. This is how strategy moves beyond intent and becomes embedded behaviour across every level of the organisation.

At Cedar Management Consulting International, we see change management as fundamentally a leadership responsibility — not a technical task. New systems can be implemented efficiently, but real success depends on whether people truly adopt them.We draw on the ADKAR framework — Awareness, Desire, Knowledge, Ability and Reinforcement — as a practical lens to understand how individuals experience change. If people do not understand why change is necessary, feel motivated to support it, and are equipped to execute it, transformation will stall.We emphasise visible leadership sponsorship, credible change champions, measurable adoption metrics and continuous reinforcement. In our experience, change management is the bridge between strategy and execution — without it, even the strongest strategy will struggle to deliver lasting impact.

Sanjiv Anand, Chairman, Cedar Management Consulting InternationalSustained profitability is difficult in the low-margin, highly competitive US restaurant industry, yet opportunities exist for suppliers with strong market insight. Tabletop products cutlery, dinnerware, drinkware and related items are essential to dining experiences but are often commoditized, with suppliers competing mainly on price, shape, and color. Operators focus on cost control, simplicity, and operational ease, while distributors resist unproven, low-volume innovations, making market entry difficult.At the same time, guest expectations are shifting toward experiential, customizable, and “share-worthy” dining. This creates openings for suppliers that offer genuinely value-added, trend-aligned products. A case in point is the revival of roasted bone marrow, which meets guest desires for novelty and theatrics while offering operators low costs and high margins. This trend revives demand for niche items like marrow spoons products many suppliers already stock but fail to promote.The key lessons are to deeply understand market details, rely on solid research rather than hype, rediscover overlooked solutions, and take a long-term, strategic approach. Innovative niche products can serve as powerful “foot-in-the-door” opportunities in rigid markets.  

Sanjiv Anand, Chairman, Cedar Management Consulting InternationalDespite being perceived as over-banked, the Middle East banking market offers significant growth opportunities across segments. Corporate banking remains commoditized in trade and contracting finance, but untapped areas such as manufacturing, treasury, and cross-border structured finance can drive higher income. Commercial banking is a hidden gem, with thousands of mid-sized businesses underserved due to weak segmentation, rigid credit policies, and organizational gaps. Retail banking continues to grow through cards, loans, and mortgages, but future gains lie in spend-led loyalty strategies and disciplined risk management. Priority and private banking present major upside given the region’s growing high-net-worth population, requiring better advisory services and tailored products. Islamic banking is a fast-growing, unavoidable opportunity through full models or Islamic windows. Channel innovation, business-enabling credit, and core banking automation are critical enablers. Banks that segment well, innovate, and execute decisively will win.

Islamic banking’s next growth phase will be driven by differentiation and innovation, not just Shariah compliance. Over the past five years, global Islamic banking assets grew 11% versus 7% for conventional banks, with expansion extending beyond the Middle East to Africa and Asia. Growth has been supported by rising customer demand, regulatory openings, and the success of Islamic “windows” within conventional banks.As the sector matures, innovation must focus on three areas: customer segmentation, product bundling, and technology. Effective segmentation goes beyond religion or income to include demographics and lifestyle needs. Product innovation increasingly relies on Shariah-compliant bundling such as loyalty, balance-based, demographic, and family bundles—often supported by partnerships with utilities, travel, or telecom providers. Technology is the strongest enabler, particularly omnichannel capabilities that ensure seamless experiences across conventional and Islamic platforms. Ultimately, innovation must enhance customer experience while remaining compliant, reaffirming that sustainable growth in Islamic banking is firmly customer-led.

Omnichannel banking is a cross-channel strategy that delivers a seamless, consistent customer experience across physical and digital touchpoints, improving service quality while reducing costs and boosting profitability. Unlike multichannel models, omnichannel integrates channels and customer data, allowing customers to start and complete journeys such as loan applications—across branches, mobile, online and emerging devices. Adoption accelerated in the 2010s and was fast-tracked by COVID-19, which drove rapid digital uptake and reduced branch usage globally.Digital and hybrid customers now dominate across regions, pushing banks to rebalance physical and digital channels rather than eliminate branches. Data analytics is central to designing and managing omnichannel journeys. While retail banking leads adoption, corporate banking is catching up, especially in transaction banking, cash management and ERP integration. Open banking and regulations such as PSD2 are creating new opportunities, particularly for corporates willing to pay for analytics-driven, value-added services. Ultimately, omnichannel enables tailored journeys that enhance customer experience and profitability across retail and corporate banking.

Many banks fail to fully realise the potential of their credit card businesses because they overlook fundamentals while chasing best practices or technology upgrades. Experience across mature and developing markets shows that poor execution—such as undifferentiated products, fragmented portfolios, weak risk–reward balance, and lack of coordinated strategy—undermines performance, even after heavy investments. Successful credit card businesses rest on five basics: strong organisational ownership and alignment; effective, incentivised sales across channels; relevant and differentiated products; balanced, analytics-driven risk management; and continuous customer lifecycle communication beyond acquisition. Common failures include weak strategic prioritisation, siloed functions, bland or misaligned offerings, overly conservative or disconnected risk policies, and neglect of post-issuance engagement. Banks that get these basics right create a stable foundation for innovation, profitability, customer retention and sustainable growth; those that don’t risk underperformance and wasted investment.

Treasury has evolved from a back-office role into a strategic, value-adding function as banks face complex investment products, tighter regulations and changing business models. Beyond managing liquidity and returns, treasury is now expected to strengthen risk management, transparency and decision-making—expectations heightened after the financial crisis. Reliance on spreadsheets and homegrown tools has proven inadequate, driving demand for robust Treasury Management Systems (TMS) that enable real-time integration with banks, vendors and customers.Key drivers of treasury technology transformation include automation and integration with core banking and ERP systems, globalization requiring SWIFT connectivity, increased outsourcing and SaaS adoption, stricter regulations such as FATCA and FBAR, and growing needs for analytics and data management. However, selecting the right TMS alone is insufficient. Successful transformation requires strong program execution through integrated planning with other initiatives, a well-defined scope, effective governance involving finance and risk teams, and structured change management. Alignment with the bank’s operating model, clear prioritization and disciplined program management are critical enablers of success.

Payment hubs represent a major shift in banking, transforming payments from a utility-driven cost center into an innovation-led profit engine. They enable a coordinated, standardized operating model across retail, corporate, treasury and cross-border payments, driven by globalization, rapid technology advances and rising regulatory demands. By consolidating fragmented systems into an integrated framework spanning front, mid and back offices, payment hubs improve straight-through processing, reduce errors and costs, strengthen risk, compliance and fraud controls, and enhance customer visibility.Modern payment hubs support four key principles: Integration across channels and systems, Immediacy through real-time payments and liquidity views, Innovation in services and pricing, and seamless Interface between customer channels, processing platforms and governance layers. Built on flexible, service-oriented architectures, they allow banks to innovate without disruptive “big-bang” replacements. As payments revenues grow rapidly—especially in emerging markets—payment hubs are becoming essential for differentiation, faster time-to-market and sustainable profitability.

As personal and corporate lives increasingly move online, cyber risk has overtaken physical risk as a major threat. Cyber attacks can damage identities, operations and reputations at unprecedented speed and scale. While security patches address known vulnerabilities, attackers often stay ahead, making it impossible to eliminate all risks. As a result, cyber security insurance is emerging as a critical financial safeguard.Organizations face threats such as phishing, malware, DDoS, social engineering and data breaches, which can lead to productivity losses, remediation costs, regulatory fines, lawsuits, revenue loss and long-term reputational damage. High-profile banking incidents highlight the scale of exposure, driving rapid growth in cyber insurance, with the global market expected to exceed $20 billion by 2025.Selecting cyber insurance requires board-level collaboration among the CIO, CRO and CFO, careful assessment of coverage, and alignment with the organization's risk profile. Insurers also evaluate IT maturity, governance, controls and employee awareness before underwriting coverage.

Corporate payments are rapidly evolving as modern technology platforms enable near–real-time processing, greater transparency, and stronger compliance. As payment services become a major revenue and retention driver, banks must invest heavily in corporate payment capabilities to stay relevant and counter fintech competition. While retail payments have advanced faster, corporate payments are catching up through improved integration, security and efficiency.Seven key trends are reshaping the space: adoption of payment hubs to replace siloed legacy systems; deep ERP integration to automate reconciliation and improve efficiency; supply chain financing to optimize working capital in global value chains; demand for local payment methods to support cross-border ecommerce; blockchain to enhance speed, transparency and risk management; open banking APIs enabling third-party innovation; and rising regulatory compliance needs around KYC and AML, increasingly addressed through data-driven solutions.As corporate payment needs become more complex, banks that deliver seamless, integrated and compliant payment experiences will gain a strong competitive edge, prompting significant industry-wide investment and new market entrants.

The concept of “Success Transfer,” pioneered by Citi, goes beyond knowledge sharing to include full implementation of proven business models across geographies. Originating in Citi’s global credit card operations, it involves replicating successful products, platforms, brands, personnel or operating models from mature markets to growth markets, adapting them to local needs rather than reinventing them. Enabled by the internet and global connectivity, Success Transfer has become an aggressive growth strategy.In credit cards, this opportunity is especially large. Consolidation in the US card industry has created a deep pool of experienced talent, while global acceptance of credit and cards is accelerating rapidly, often outpacing US growth. By transferring US best practices—acquisition models, credit scoring and operations—financial institutions can quickly scale card businesses worldwide. Cultural shifts, outsourcing and rising consumer spending have further fueled this global adoption of credit.

Banks are increasingly embracing digitization to improve efficiency, attract customers, enhance analytics and deliver personalized services. Smaller, agile banks often lead this shift, viewing digitization as a way to grow market share rather than just automate transactions. Digital banking goes beyond mobile or online channels—it represents a customer-centric philosophy that delivers consistent, data-driven experiences across all touchpoints, supported by analytics, automation and cultural change.Key drivers include rising mobile and internet usage, improved connectivity, availability of big data, and advanced analytics. Digital banking creates revenue opportunities through better customer insights, targeted cross-sell, relationship pricing and higher lifetime value, while reducing costs via automation, optimized channel mix and cloud technologies. However, banks face challenges such as organizational silos, talent shortages, legacy systems, margin pressure and regulatory constraints.FinTechs and emerging technologies—biometrics, wearables, digital wallets and AI—are reshaping the ecosystem. Ultimately, digitization is not optional; it is core to banking strategy, transforming banks from transaction-focused institutions into customer-centric, data-driven organizations.  

Global IT spending is massive and growing, making technology a critical source of competitive advantage. Yet around 60% of IT projects fail to meet objectives or timelines, often due to weak business ownership. Successful IT initiatives require strong alignment between business and technology. Ownership must start at the top, with senior business leaders co-owning projects alongside IT heads. Projects should begin with clear, business-driven requirements to ensure early buy-in. IT delivery is a joint responsibility, supported by dedicated cross-functional teams led by senior business managers. Clear milestones, regular sign-offs and executive oversight help maintain momentum and accountability. Equally important is structured change management, including consistent communication and a formal process for managing scope changes. Without strong business ownership, organizations risk opportunity losses, inefficiencies and customer dissatisfaction. True success lies in treating IT projects as business transformations, not just technology implementations.

Banks select vendors based on required detail and time available, leading to four common approaches: traditional RFI–RFP, proof of concept, market leader selection and strategic partnerships. While traditional and PoC methods offer deeper evaluation, they take longer; market leader and partner models are faster but rely on confidence in the vendor. The RFP remains central, focusing on the bank’s objectives, requirements, timelines and evaluation process. Effective RFPs emphasize clear objectives, defined requirements, standard templates and disciplined communication. Common pitfalls include ambiguity, excessive documentation, informal vendor interactions, shortcuts and unrealistic timelines. A well-run RFP improves vendor comparison, cost transparency and outcome quality. Importantly, RFP investments have long-term value when documentation and evaluations are archived for future procurements. Managing RFPs well is both a science and an art, and may benefit from specialist support to maximize returns on effort and cost.

Banking technology priorities have shifted markedly over the past decade. CIOs and CTOs have moved focus from core and back-office overhauls to service-oriented architecture, outsourcing and digital transformation. Today’s architecture is shaped by digital, cloud, mobility, analytics and big data, impacting channels, middleware, analytics, payments and core systems. Customer experience now dominates strategy, with heavy investment in digital touchpoints such as video banking, interactive tellers, mobile onboarding and omnichannel service models. Analytics has evolved from retrospective reporting to predictive insights, enabling personalized offers, churn prediction and executive dashboards. Payments are being reshaped by contactless, mobile wallets, APIs and real-time processing, increasing the need for STP, cybersecurity and fraud controls. At the core, banks face tough choices: retain, upgrade, replace or outsource legacy platforms. While core replacement is complex and risky, it is inevitable, as long-term sustainability depends on a modern, extensible core aligned to the new age of banking.

Technology outsourcing, business process outsourcing (BPO) and shared services are entering a new growth phase driven by factors beyond cost arbitrage. As technology adoption accelerates and skill requirements diversify, organizations increasingly rely on best-in-class vendors rather than building all capabilities in-house. While BPO suits large-scale operations, shared services help organizations eliminate duplicated support functions, a model already adopted by over 80% of Fortune 500 companies. Economic disruptions often trigger such transformations, with digital shifts in Western markets and cost pressures in the Middle East acting as catalysts. In the Middle East, IT outsourcing and shared services are expected to grow faster than BPO due to regulatory, language and scale constraints. Key drivers include rising technology adoption, talent shortages, tighter immigration rules, regional expansion, economic cooperation and labor cost differentials. Success begins with reassessing the current operating model, defining target benefits and designing a clear target state to guide partner selection and transition.

Banks setting up Islamic banking operations must carefully choose technology and infrastructure to meet Shariah, regulatory and customer requirements. Islamic businesses typically require separate divisions, Shariah boards, compliant products and often separate general ledgers. Banks can either invest in a single universal banking system (UBS) supporting both conventional and Islamic products, or deploy multiple best-of-breed product processors with integration layers. The single-system approach offers lower costs and simpler architecture, and is common in markets like Saudi Arabia, but may limit functionality. The multi-system model provides stronger Islamic capabilities and faster time to market, though with higher complexity. Successful coexistence depends on six factors: customer master data management, omnichannel routing, flexible service layers, strong middleware, real-time processor integration and enterprise general ledger design. While single systems suit smaller or greenfield banks, larger banks often benefit from specialized product processors, subject to regulation, Shariah approval and market context.

The Covid-19 pandemic has disrupted traditional banking through lockdowns, cash-handling risks, supply-chain stress and rising NPAs, impacting bank profitability. Amid this crisis, a “digital panacea” has emerged, accelerating the shift toward fully digital banking models. Beyond business continuity, banks have an opportunity to permanently transform by embracing three priorities: driving digital adoption to enhance customer acquisition and self-service; building a straight-through-processing (STP) operating model using automation and RPA to improve efficiency; and connecting to the broader digital ecosystem through APIs and open banking. Digital onboarding, mobile and corporate platforms, backend integration and advanced analytics are critical enablers. True value, however, comes only when customer channels, operations and ecosystems are all digitized. By leveraging cloud, automation and secure architectures, banks can reduce reliance on physical branches, expand reach, cut costs and ensure long-term sustainability—turning a crisis into a catalyst for lasting digital transformation.

Post-2008 regulations, evolving markets, and new technologies have fundamentally reshaped treasury functions. Heightened focus on liquidity, capital, and risk driven by Basel norms has made liquidity costlier and elevated the treasurer’s role from cash management to a strategic driver of balance-sheet growth, risk control, and regulatory compliance.Treasury processes now emphasise integrated platforms that enable real-time risk assessment, automated reconciliation, straight-through processing, and advanced ALM, with many banks running ALM as a profit centre.People capabilities have evolved accordingly: treasury is no longer a cost center but a central, strategic function working across business lines and geographies, often operating from centralized hubs to optimize costs and collateral.Technology underpins this shift, replacing fragmented legacy systems with data-driven, automated treasury platforms. AI, analytics, RPA, blockchain, APIs, and cloud are increasingly used for forecasting, settlement, compliance, and efficiency. Ultimately, treasury’s success lies in delivering value by optimizing liquidity, managing risk, and strengthening profitability.

Core banking transformation is often compared to changing an aircraft engine mid-flight, as banks must replace their core systems without disrupting live operations or customer experience. Successful implementation depends on disciplined execution across multiple critical phases. The journey begins with rigorous programme planning, defining activities, dependencies, milestones, ownership, timelines, and communication to ensure a single, aligned plan. Customisation must be tightly controlled, limited only to regulatory, regional, or high-impact needs, as excessive tailoring increases risk. Data migration is a long, complex track requiring multiple mock runs to ensure accuracy and a smooth final cutover. Parameterization captures each bank’s unique products, processes, and accounting nuances within the system. Testing is the defining phase, encompassing system integration, user acceptance, performance, and security testing. Training is equally critical, focusing on both learning the new system and unlearning old practices through hands-on simulations. Finally, go-live readiness must be objectively assessed, as long-term success depends on post-implementation user experience, not just a smooth cutover.

Artificial intelligence is rapidly reshaping banking across front, middle and back offices, replacing routine roles while creating new technology-driven jobs. AI enables tasks such as speech recognition, cognitive analytics and machine learning, allowing systems to learn from data and improve decisions without human intervention. In the front office, AI-powered chatbots, voice assistants and analytics enhance customer experience through 24/7 service, personalised offers and sentiment analysis. In the middle office, AI improves credit decisioning, fraud detection and risk management by combining traditional data with behavioural and alternative data sources. In the back office, AI and related tools like OCR and RPA drive efficiency by automating manual processes, reducing costs and enabling predictive maintenance.Key challenges include auditability, explainability, data privacy, fragmented systems and limited AI talent. To succeed, banks must build partner ecosystems, adopt open APIs, enable continuous model improvement, reskill teams and establish strong governance frameworks. Ultimately, AI should deliver lower costs, better services and tangible customer benefits.

Many large IT investments fail to deliver expected value due to poor alignment, weak execution, or incomplete planning. Successful IT investments can be guided by three fundamental questions: why, what, and how. The “why” focuses on clearly defining the business objective—identifying the specific problems being addressed and the tangible benefits expected, such as efficiency gains, cost reduction, or improved controls. The “what” concerns selecting the right solution, vendor, and implementation team, ensuring functional fit, scalable architecture, regional relevance, and a realistic view of total cost of ownership, including hidden and indirect costs. The “how” emphasizes disciplined project planning and controls, including detailed project plans, defined milestones, risk management, governance, and strong PMO oversight. Clear measurement and monitoring systems are critical, as only what is measured can be effectively managed. When these three tenets are addressed holistically, IT investments can deliver sustained value and strong returns.

The rapid growth of the Internet of Things (IoT), with billions of connected devices, is creating major opportunities and challenges for banks. IoT enables devices to exchange data autonomously, generating vast data sets that can be used to predict behavior, anticipate needs, and design new financial solutions. For banks, key applications include automated payments, personalized offers, smarter SME and corporate financing, improved agricultural lending, and asset monitoring for better credit assessment. From a customer perspective, IoT promises greater convenience and highly personalized services, but raises serious concerns around data privacy. Banks must carefully decide what data to analyze, how it is used, and how privacy is protected. Risk management will increasingly focus on data security and cyber threats rather than traditional risk categories. To differentiate in a crowded ecosystem, banks must define clear objectives, develop relevant IoT use cases, partner with fintechs through APIs, and pilot innovations with customers. IoT is set to reshape banking, provided data governance and trust are managed effectively.

The growth of data and analytical capabilities has shifted businesses from intuition-based decisions to data-driven decision making. Analytics transforms raw data into actionable insights that help organizations understand past performance, identify causes, predict future outcomes, and recommend optimal actions. It is defined as the scientific process of examining data using tools and techniques to uncover patterns, trends, and foresight for informed decisions. There are four key types of analytics: descriptive (what happened), diagnostic (why it happened), predictive (what might happen), and prescriptive (what action to take). As organizations move from descriptive to prescriptive analytics, both complexity and business value increase. Analytics delivers benefits such as improved decision making, stronger performance, better planning, enhanced customer relationships, efficient resource use, and improved risk management. It is widely used across industries including BFSI, retail, e-commerce, healthcare, HR, and social media. To fully realize its potential, organizations must embed analytics across all functions and decision levels.  

To become the wealth manager of choice for millennials, firms must embrace seamless digital onboarding. Millennials expect fully digital, self-service onboarding that consolidates lead generation, customer analytics, need assessment, product recommendation, and account opening into a single experience. Traditional relationship-led models are no longer sufficient, especially as significant wealth transfers accelerate. Successful digital onboarding rests on three principles: being intuitive by asking the right questions and leveraging ID capture to pre-fill known data; being quick by minimizing paperwork, duplication, and turnaround time; and being engaging through strong journey design and continuous interaction, especially in the first 90 days when attrition risk is highest. A mobile-first, omnichannel experience reduces costs, improves advisor productivity, and enhances customer relevance. Digital onboarding also strengthens regulatory compliance through automated identification, AML, and high-quality data capture. Ultimately, success depends on more than technology—it requires aligned processes, trained teams, strong governance, data-driven insights, and a sustainable technology roadmap to meet evolving customer expectations.

Recent large-scale frauds linked to SWIFT transactions highlight hidden operational vulnerabilities in banks and the urgent need for stronger risk controls. SWIFT is a global messaging platform used by banks to facilitate cross-border payments, with transactions executed either through straight-through processing (STP) from core systems or via manual postings on SWIFT terminals. While STP reduces fraud risk, system errors can cause incorrect transactions; manual postings limit access but heighten fraud risk. In practice, banks use a mix of both, creating exposure to erroneous or fraudulent transactions. To minimize these risks, banks must go beyond system integration and adopt robust process, organizational, and compliance controls. Eight key principles are critical: automated workflows, strict access controls, multi-level approvals, job rotation, clear authority matrices, fraud analytics, limit management, and regular audits. A holistic operational risk framework is essential to safeguard high-value SWIFT transactions.

Over 60% of technology transformation projects miss budgets or timelines, making execution excellence and a strong Program Management Office (PMO) critical. Successful program management enables early benefit realization, an institutionalized framework, and organizational engagement. Five key tenets drive success. First, robust governance with visible executive sponsorship, clear roles, KPIs, RACI, and escalation structures prevents initiatives from being sidelined. Second, detailed planning at both granular and high levels ensures clarity, alignment, and shared ownership. Third, rigorous measurement of timelines, quality, cost, impact, and risks enables early course correction, supported by holistic frameworks like the Balanced Scorecard. Fourth, proactive change management ensures users are engaged, trained, and understand both benefits and risks of inaction. Finally, value realization keeps focus on outcomes through milestone celebrations and continuous communication of program benefits, preventing delays and loss of purpose.

Banks have shifted from viewing IT as a support function to recognizing it as the foundation of their business, a change accelerated by digital disruption and the pandemic. A bank’s digital and IT capabilities now define what it can offer customers, making periodic, top-down IT strategy reviews essential. Instead of isolated fixes, banks must adopt a holistic approach aligned with business vision, strategy and customer needs, with reviews typically every two years.An effective IT strategy follows a four-step approach: understanding where the bank is headed (business strategy and drivers), assessing the current state across applications, technology and organization, defining the way forward by identifying and prioritizing initiatives, and developing a roadmap to guide execution. Success depends on sequential execution of these steps, strong business awareness within IT teams, overcoming resistance to change, avoiding blind replication of peers, and balancing inside-out and outside-in perspectives.

Islamic finance has gained global attention for its risk-sharing, ethical principles, especially after recent financial crises. Islamic banking operates through pure Islamic banks, Islamic subsidiaries of conventional banks, and Islamic windows. While GCC Islamic banks once outpaced conventional peers, growth has slowed due to volatile oil prices and weaker regional economies, with market share largely stagnating. Despite this, modest growth is still expected.The COVID-19 pandemic impacted Islamic finance more deeply than earlier crises because of its higher exposure to SMEs, microfinance and retail customers. Islamic social finance tools such as zakat, waqf and sukuk can support crisis response and recovery. Regulatory standardisation is improving through global bodies like AAOIFI and regional initiatives such as the UAE’s Higher Sharia Authority. Innovation is accelerating via digital banking, fintech and blockchain-based solutions. Looking ahead, the strongest growth potential lies in Muslim-majority countries, supported by consumer education, regulatory clarity and political commitment.

Selecting an Islamic core banking system is more complex than choosing a conventional platform due to Sharia-specific requirements and regional variations. A structured “4D approach” helps banks identify the best fit.First, Define needs through a detailed Business Requirement Specification covering Islamic asset and liability products, profit calculation methods, Sharia rules, and core banking functions, prioritized as critical, good-to-have and nice-to-have.Second, Determine the shortlist by aligning vendor capabilities with the bank’s context—pure Islamic bank, dual conventional-Islamic model, or Islamic window—while assessing regional presence and proven references.Third, Deep-dive evaluation and commercials validate functional claims across Islamic products, AAOIFI compliance, technology architecture, scalability, and vendor strength through detailed demonstrations.Finally, Delve into contractual details, focusing on implementation capability, contractual flexibility, total cost of ownership, and senior-level commitment from the supplier.Ultimately, success depends on aligning functionality, technology, vendor credibility, and long-term partnership commitment.

SMEs are vital to the global economy but remain underserved in bank lending due to the unique nature of their credit risk. Unlike large corporates, SME risk is primarily promoter-driven, making traditional corporate credit frameworks ineffective. SME lending requires a volume-led, specialized risk model that assesses the obligor rather than just the facility, blending borrower behavior, cash flows and sector risk.A robust SME credit strategy rests on five pillars. First, borrower assessment focuses on promoter quality, industry context and cash-flow analysis rather than audited financials. Second, underwriting norms combine borrower scores and collateral to define risk tiers, driving pricing, tenor and approval rules. Third, streamlined credit processes emphasize fast turnaround, simplified documentation and automation. Fourth, a dedicated SME risk organization separates policy, appraisal and portfolio oversight to balance speed and control. Finally, proactive portfolio monitoring using analytics enables early risk detection, restructuring and regulatory compliance.Ultimately, SME credit success depends less on exposure size and more on accurately identifying and managing whom the bank lends to.

Large technology transformations like core banking programs often fail when readiness is judged only on system or application status. To enable effective milestone decisions, Cedar recommends the RAPID framework which is a holistic readiness assessment tool based on experience from 40+ core banking implementations. RAPID evaluates five critical dimensions: Resources, Application, Process, Infrastructure and Data.The framework helps governing bodies assess readiness at board, steering committee and PMO levels through a three-step approach. First, strategic questions define readiness objectives for an upcoming milestone, such as User Acceptance Testing. Second, each RAPID dimension is broken into measurable operational parameters with clear criteria. Third, parameters are assessed using ownership, timelines and RAG (Red-Amber-Green) status to drive accountability.RAPID ensures structured, transparent decision-making, improves execution discipline and reduces risk. It can be applied at any stage of a transformation, including testing, data migration, business simulation and go-live.