Banking has proven its resilience; transforming from the Achilles heel of the global financial crisis into a pillar of strength that has kept the economic engine running throughout this pandemic. In less than two decades, we’ve proven to the world that it’s possible for an entire industry to learn, unlearn, and relearn. Can we do it again?

History suggests that it is during times of great distress that mankind has come up with its greatest innovations and solutions. When faced with a seemingly insurmountable problem, we’ve tackled the challenge by mustering all our ingenuity in order to come out the other side bigger and better. Whether it’s technological breakthroughs such as digital currencies and neobanks or evolving prudential regulations to stem systemic risk, it’s taken a lot of work to get the banking system to where it is at. We must protect these hard-won strides even as we chart our path into new territories.   

This issue of Banking Insight is dedicated to exploring alternatives that will help bankers to either bridge the gap or bring down barriers. The end game is to further elevate the industry from where it stands today.

The cover story, Inflation: Why We Should All Take ‘Small Steps in a Dark Room’ by Ms Angela SP Yap, puts forth the approach that bankers should take when talking about the proverbial issue of rising costs in a challenging new world. Focusing on the fundamentals, she forces us to reexamine the daily hype that we are bombarded with in the news, through social media, and why we should weigh in more critically, especially when our research, views, and opinions are powerful tools in setting market expectations. The tenets of responsible banking require us to check our actions so that we continue to be part of the solution in rebuilding the economy.

In Next-gen Banking, personalisation is the name of the game. It is our privilege to feature Ms Lee Jim Leng, CB, Group Managing Director / Chief Executive Officer of Hong Leong Investment Bank Berhad. She shares insights into her 30-year career, which reads like a veritable playbook to reinvention in this age of crypto, light-touch regulation, and sustainability.

Forewarned is forearmed, especially when it comes to the pursuit of alpha. Dr Danial Hemmings of Bangor Business School, UK, our collaborative institution in delivering the Chartered Banker MBA, predicts that special purpose acquisition companies (SPACs) will attract attention as a renewed source of opportunity in 2022. In SPACs: All That Glitters May Not Be Gold, he urges value investors to beware of the unguarded risks and “costs of excess exuberance” as high deal volumes of late may “give more reason to be wary than impressed”.

Dr Thun Thamrongnawasawat, who holds the distinction as Professor of Practice at the Asia School of Business, discusses how discovery of the Freedom Within the Framework methodology can assist leaders who struggle in finding the balance between order and free will. His point of view that “freedom and control…can work hand in hand within a framework that provides structure without being suffocating” could hit the sweet spot that you’ve been looking for.

Banking Insight is a microcosm of what’s at the top of the agenda for the industry. In this way, we strive to fairly represent the diverse views and approaches that are out there, which coincidentally is the subject of Is Your Board Thinking About Cognitive Diversity? on page 18.

A power-packed read for sure. We lay down the gauntlet and challenge banks to give these new ideas a spin around the ol’ block. I recommend picking your top three priority areas and try putting what you’ve read into practice.

This is what it means to learn, unlearn, and relearn. No matter what age you’re at or how much experience you have under your belt, there’s always something new to learn every day.

We are never too cool for school.

The Editor