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Bill Gates' quote, "Banking is necessary, but banks are not," showcases the opportunity for financial services digital transformation. The next transition from industry 4.0 to 5.0 will impact all sectors, including banking. It will combine information technology and automation, based on artificial intelligence, person-robot collaboration, and sustainability. It is time to analyze this transformation in banking deeply, so that the sector can adequately change to the 'New Normal' and a wholly modified banking model can be properly embedded in the business. This book presents a conceptual model of banking 5.0, detailing its implementation in processes, platforms, people, and partnerships of financial services organizations companies. The last part of the book is then dedicated to future developments. Of interest to academics, researchers, and professionals in banking, financial technology, and financial services, this book also includes business cases in financial services. Bernardo Nicoletti is a Professor of Operations Management at Temple University, Rome, Italy. He also provides consultancy advice and coaching in Europe, the Middle East, and Asia on ICT strategy, process improvement, and financial services. In his research, Bernardo has been particularly active in the application of the agile method and its tools to a variety of industries. He has authored 30 books on management and published 250 articles in domestic and international journals. He frequently speaks at international conferences. .

Financial organisation --- sociale interventies

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Analysis of the debt crisis in Latin America particularly involving the USA and USA dominated IMF.

Debts, External --- Loans, Foreign --- IMF --- Latin America --- United States --- Economic conditions --- Foreign economic relations

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Despite recent efforts toward collecting evidence of vertical specialization for developed economies, scarce work has been dedicated to developing economies and to Argentina, in particular. The key contribution of this paper is to provide comparable estimates of vertical specialization as reflected in the imported content of exports in Argentina. Drawing on the 1997 input-output matrix for Argentina, the authors estimate that the imported content of the country's exports is about 14.5 percent of total exports, lower than for other emerging economies. They also provide estimates of imported content for more disaggregated product categories.

Agribusiness & Markets --- Cars --- Cisterns --- Commodities --- Construction --- Domestic use --- Fuel --- Fuel oil --- Fuels --- Gas --- Gasoline --- Industrial processes --- Industrial sector --- Iron --- Macroeconomics and Economic Growth --- Motor vehicles --- Pumps --- Rural Development --- Rural Development Knowledge & Information Systems --- Seawater --- Ships --- Tires --- Transport --- Transport Economics Policy & Planning --- Transportation --- Washing --- Water and Industry --- Water Resources --- Water supply

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This paper identifies the international credit channel of monetary policy by analyzing the universe of corporate loans in Mexico, matched with firm and bank balance-sheet data, and by exploiting foreign monetary policy shocks, given the large presence of European and U.S. banks in Mexico. The paper finds that a softening of foreign monetary policy increases the supply of credit of foreign banks to Mexican firms. Each regional policy shock affects supply via their respective banks (for example, U.K. monetary policy affects credit supply in Mexico via U.K. banks), in turn implying strong real effects, with substantially larger elasticities from monetary rates than quantitative easing. Moreover, low foreign monetary policy rates and expansive quantitative easing increase disproportionally more the supply of credit to borrowers with higher ex ante loan rates-reach-for-yield-and with substantially higher ex post loan defaults, thus suggesting an international risk-taking channel of monetary policy. All in all, the results suggest that foreign quantitative easing increases risk-taking in emerging markets more than it improves the real outcomes of firms.

Access to Finance --- Bankruptcy and Resolution of Financial Distress --- Banks and Banking Reform --- Credit Channel of Monetary Policy --- Credit Supply --- Debt Markets --- Economic Stabilization --- Financial Globalization --- Foreign Banks --- Quantitative Easing (QE) --- Risk-Taking

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This study investigates the existence of political rents in bank lending, using a comprehensive loan-level data set of the universe of commercial loans in Mexico from 2003 to 2012. Identification relies on changes in the state of origin of a senate committee chairman as a source of exogenous variation in firms' political relationship. The study finds that banks offer favorable loan terms to politically connected firms with larger loan quantities, lower loan spreads, longer maturities, and lower collateral requirements. Furthermore, political loans exhibit higher default rates. To isolate the bank supply channel, a rich set of fixed-effects is included with various specifications. The favorable lending increases with the strength of a firm's political connection, varies gradually along the political cycle, and is mainly offered by large and domestic banks. Consistent with the quid pro quo hypothesis, the study finds that banks that extend political loans receive significantly more government borrowings with better credit quality. The study also shows that the greater credit supply due to political connection leads to a large and significant increase in firm-level employment and assets. The study provides estimates of the total social cost of political lending and net revenue for banks that are engaged in rent provision activity. Finally, a series of robustness tests are performed to rule out alternative mechanisms and explanations.

Access to Finance. --- Bank Lending. --- Bankruptcy and Resolution of Financial Distress. --- Banks and Banking Reform. --- Debt Markets. --- Finance and Financial Sector Development. --- Political Economy. --- Privatization. --- Rent Seeking.