Advanced economies are, on the other hand, expressing concerns that the foreign exchange rates of emerging economies are less flexible, and this may eventually threaten global sustainable growth by enlarging global imbalances. For reference, the foreign reserve assets of Asian emerging economies dropped slightly immediately after the Lehman shock, but recovered again and increased dramatically (Slide 14). How should we address this currency issue?
Banks have to instil in their DNA the enablement of a positive and consistent customer experience that can transform them into trusted advisers. At no time in banking history has this been more important. Banks have adopted technology but the benefit of technology has not percolated in terms of cost, speed and convenience.