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Current Dynamics and Trends in Corporate Banking

Introduction

Human society has evolved, over the decades, under the gradient of technological advancement hence fostering a change in the business culture operations. It is a phenomenon that renders proficiency in competence across the global enterprise market. Researchers argue that the intensification in the incorporation of automation structures and the customization of services for clients is an ideology that is a competitive advantage in corporate banking. Examples of the systems attributing to computation as an emerging trend encompass immediate payment service (IMPS), online banking, telebanking, national electronic funds transfer (NEFT), and real-time gross settlement (RTGS) (Shilling & Celner, 2021). The industry demands the incorporation of dynamic shifts to enhance the growth and development and improvement in the operations and performance outlier.

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Business activities encompass an interplay of different entities that enhance the satisfaction of stakeholders’ needs while spearheading growth and development. In this case, Smith (n.a “The Broader Context”) establishes that one of the factors to assess during the determination of strategic management approaches is the enterprise environment. The researcher establishes that there are three levels of a locale, and they include relevant, competitive, and task-oriented. The corporate banking sector is service-based hence the prominence determining the various elements attributing to customer’s experience. Online banking as an emerging trend significantly enhanced the evolution of the environmental structure based on the establishment of niche variables.

Primarily, the dynamic niche market enshrined the strategic management in service delivery due to the convenience and customization features. An excellent example of positioning among clients involves the use of mobile banking applications. The increase in the use of mobile phones across east and south-east Asia is an aspect that boosts the performance of the competence within the industry (Adeleye et al., 2018). On the one hand, the consumers attain the empowerment tool to access the products through their phones conveniently. On the other hand, corporate banking entities gain the insight to adapt to the strategy and enhance optimal market acquisition within the framework. Fundamentally, technological advancement is a phenomenon that triggered the rise in revolutionary operations within organizations globally due to the optimal sharing of information.

The incorporation of technology in corporate banking rendered the paradigm shift in the value chain. According to Smith (n.a “The Broader Context”), a supply link encompasses the flow of operations from the processor, manufacturer, retailer, and end user. However, it is an initiative that faces controversy in East and South-East Asia due to the customization features enshrining the sophisticated application and software development. As a result, computerization triggered the alteration of the traditions of physically interacting with clients for sales and marketing. The competence of a business entity heavily relies on the ability to relay information on strategic management and foster the individual’s financial security and growth through investments. Therefore, the worthiness of a product depends on the effectiveness of the processor, that is, the software developer and people’s decision-making culture.

Sustainable Financing as an Emerging Trend in Corporate Banking

Sustainable financing is another emerging trend in the corporate banking due to the consequences from the COVID 19 pandemic. In research by Shilling and Celner (2021), the authors note that there is a profound impact to the capital markets across Europe, Asia-Pacific, and American regions. Although the sector encountered dynamic challenges pre-pandemic era, the emergence of the event triggered the process based on the lockdown, social distance, and virtual work from home concept. Shilling and Celner (2021) further establish that International Monetary Fund approximates at least a 4.4% decline in the global gross domestic product that is equivalent to US$ 6.2 trillion. The distinction between the current pandemic effect and the global financial crisis encompasses the ability of the institutions to adopt proactive measures for minimal impact on depression.

COVID 19 rendered the adoption of a different system and human behavior mainly on the types and level of engagements. Due to the decline in the economic activities, Shilling and Celner (2021) postulate that banks across the various regions will loan at least US$318 billion between 2020 and 2022. It is documentation that is lesser than the recorded loss incurred between 2008 and 2010 at 6.6%. However, the comparison between US, Europe, and Asia-Pacific indicates that in the second financial quarter in 2020, the best performing banks had issued loans totaling to US4103.4 billion, US$62.5 billion, and US$68.8 billion respectively (Shilling & Celner, 2021). Primarily, the pandemic fostered the emergence of the trend as a necessary measure to boost the performance of enterprises within the various regions with Asia-Pacific posing a higher chance of recovery. The global positioning of the entities in the sector encounters the opportunity to boost the competence based on the necessity to remit loans to individuals for the growth of the businesses. In this case, the emergence of sustainable financing is a strategy featuring as a baseline solution to the ideal operations within Asia-Pacific.

Sustainable finance is a multifaceted phenomenon that involves the integration of dynamic facets during investment decision-making. The main goal of the initiative encompasses fostering a long-term effect and security for the client through the projects and activities. As a result, it is vital to consider the social structure, governance, and the environmental state in corporate banking. The initial policy in corporate financing engulfed the provision of capital without the regard of its benefit to the region (Lurie et al., 2021). However, the onset of the post-pandemic era renders the prominent factor in considering the importance of the facility to individuals and the effect to the governance structure in east and south-east Asia. The major products involved in the conceptual framework encompass savings, insurance, credits, and investment funds.

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Primarily, the advent of coronavirus fostered the profound loss of job opportunities globally increasing the poverty rate. Lack of finances is an issue that affects the entire international community mainly because of the essence of poor living conditions, the flow of economic operations, the rise in debts, and dependence levels. As a result, it is the responsibility of the banking sector to establish green approaches in lending money while monitoring the optimal utilization of the resource to boost the quality of living within Asia-Pacific.

Digitization

The pandemic triggered the adoption of the key variable of digitizing the banking processes to boost the continuance of the operations. Despite the lockdown, corporates focused on one of the prominent elements fostered by technological advancement (Lurie et al., 2021). Apart from the intensification in computerization, the social distancing initiative contributed to the paradigm shift of the phenomena. According to Shilling and Celner (2021), the optimal solution to the major problem lies in the ability for banks to adopt the new culture and integrate the dynamic strategic management aspects to enhance customer service experience. Therefore, the rise in the rate of online banking is an opportunity for Asia-Pacific corporate sector to establish the niche competitive advantage based on the goal of economic growth and development.

Corporate Responsibility

Under the spectral view of sustainable financing, a significant paradigm shift in the corporate responsibility attitude encompassed the focus on safety and precautionary activities. The consequences from climatic change triggered the change in the strategic management and public relations among companies. As a result, the organizations established affiliate relationships with the parties identified with green initiative. It is a practice that led to the improvement in the competence across the east and south-east Asia based on the association with the entities implementing the green initiative (Lurie et al., 2021). In this case, the components focused on boosting the value chain through the incorporation of the concept in the dynamic activities and engagements such as distribution of reliefs to communities highly affected by the COVID 19 outbreak.

Social Sphere Empowerment

Corporate banking is part of a vast community whose capital fosters the growth and development of the industry within the east and south-east Asia. Shilling and Celner (2021) indicate that the pandemic exacerbated the disparity in the distribution of income among the various parties in addition to the integral values of racism and gender discrimination. An excellent example of a company that spearheaded the sustainable financing during the COVID 19 era is JP Morgan that committed US$30 billion aiming to enhance the welfare among personnel and reduced the marginal difference in wealth acquisition. It is a practice that the researchers argue is an insight to the ideal solution in the expansion and articulation of ethics and moral ideologies across the region. Chris (n.a “The Industry and its structure”) depicts that the externality is the ability of an institution to enhance the relationship with different stakeholders across the industry to enrich the network. It is an approach that renders the social sphere empowerment due to the ability to implement policies intensifying the trickle-down effects.

The profitability of a firm relies on the interdependence between the macroeconomic, conditions in the industry, and the positioning to determine the performance. In this case, the various dimensions of the sector include customers, products, geography, production stages, and the abound activities (Smith, n.a “The industry and its structure”). Primarily, an integration of the dynamic components influencing the operations fosters the advancement to the competence based on the outlying conditions of effective management.

Human Resource Management as an Emerging Trend in Corporate Banking

One of the significant changes that strengthen human-computer interaction is the evolution from mouse-controlled applications to touch-based platforms and applications. In a research study by Murshed et al. (2018), the researchers argue that incorporating an intensive form of interaction is an empowering tool for humans to discover the applications’ further utilization. There is a significant difference between the touch screen interface and mouse-driven interface mainly because of the range of human-computer interaction.

Human-computer interaction is a multifaceted phenomenon that seeks to optimize the experience while using the applications. Obrist et al. (2017) stipulate that a multisensory spectrum of the computers through touch screens asserts individuals’ inclusivity despite physical challenges such as blindness and autism. In essence, touch screens are an ideology that invokes an individual’s sensory organs, thus boosting the interaction experience in consideration of the dynamism. It is an improvement from the mouse-controlled concept of computer programs and applications. The mouse-controlled applications demand an active participatory interaction between the individual and the computers. On the other hand, the integral participatory platform with a touch screen engulfs a passive and dynamic interaction. Therefore, touch screens are an effective solution to technology’s defects in marginalizing specific human population spectrum. According to Obermeier and Auinger (2019), touch screens in retail environments significantly contribute to an excellent customer experience and employee’s learning capacity. As a result, the touch screen ideology emerged as a competitive advantage over the online shopping platforms and other retail outlets. The distinctive difference between mouse-controlled and touch screens lies in boosting the human-computer interaction and enhancing the optimal consumer experience.

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The intensification of the interaction between the employees and the customers offers a profound alternative solution to ethical issues. In most instances, the employees get poorly nurtured and limited to utilizing their creative aspects. In a different perspective, the employees acquire poor interaction techniques from the senior management mentors. As a result, the employees use the derailing interacting techniques that eventually affect the company’s productivity (Wigert & Harter, 2017). Apart from establishing a channel of communication with employees from different departments, the system promotes the creation of a platform to address networking. Essentially, networking enables the employees to interact in a safe environment to understand and appreciate each other’s differences on social and personal value.

In a different scenario, employees from different religions, races, and ethnicity use different slang language that increases the tendencies of harassment in the workplace. The use of slang language among the employees poses a significant challenge in the flow of information across the various departments. Additionally, language proficiency differences highly affect the coordination among employees in delivering services to the clients. In essence, poor communication is an ethical issue mainly because the employees constantly maintain communication channels with the clients (Wigert & Harter, 2017). Therefore, a translation of the communication challenge during an interaction with the clients renders a poor service experience that eventually affects the customer’s confidence and loyalty.

Social values foster the emergence of different levels of corporate interventions in promoting social growth. One of the social value platforms that highly affect the employees and the company comprises environmental protection. The major global trend associated with business practices entails climate change and environmental pollution (Mehra, 2018). The global trend rendered the emergence of such initiatives as a sustainable development agenda. An excellent example of a sustainable development agenda involves the recycling of materials. Also, the sustainable plan engulfs the integration of employees’ welfare with the corporate goals to foster harmonized growth. As a result, the employees gather adequate information and skills concerning the means of protecting the environment. However, the initiative highly depends on the ability to establish ethical interaction outlines without favoritism or harassment. In this case, the employees gain opportunities and exposure to implement sustainable ideologies in the business practice.

Humanitarianism is another social value platform that highly influences employee behavior and perspective concerning ethical standards. Business practices portray different aspects of humanitarianism, such as corporate social responsibility. An excellent example of corporate social responsibility involves visiting children’s homes and offering hospitality services (Mole et al., 2017). The marketability of businesses highly relies on green initiatives, such as exploitation of corporate social responsibility initiatives. Research studies establish that employees get nurtured by implementing company practices such as corporate social responsibility activities (Mehra, 2018). Employee behavior gets highly influenced by the practice of humanitarianism through the trickle-down effect of the company’s demonstration of accountability to the community’s welfare.

Diversity in the workplace is a factor that highly affects an organization mainly because of the orientation of cultural practices and operations based on the employees’ skillset. One of the profound elements in a company involves enhancing worker satisfaction. The greatest asset of any enterprise is human resources. Therefore, it is essential to ensure that the developed business culture reflects personnel’s behavior and interests. Incorporating heterogeneity in a station ensures the emergence of a dynamic competence level in providing services and the product development cycle (Muthukumar et al., 2017). On the one hand, diversity in the environment is legal compliance. On the other hand, the dynamism is an empowerment tool in boosting the differentiation element in service delivery and product development. Divergence in public working areas is a multifaceted phenomenon encompassing the integral utilization of proactive measures to enhance the effective incorporation process. Cultural multiplicity aims at enhancing the customer and employee satisfaction from the developed institutional policies. It is paramount to develop an effective management practice that boosts the employees’ satisfaction and performance in a venture.

From a different perspective, organizational behavior contributes significantly to the development of ethical concerns in human resource management. In essence, various issues that affect the ethical practices include individualism, collectivism, power distance, avoidance of uncertainties, nurturing of achievements, and the essence of cultural diversity (Muthukumar et al., 2017). Due to the different social and cultural backgrounds of employees, the demographic dynamics of the corporate banking industry represent diversity at the workplace. The majority of workers practice and believe in different sets of socio-cultural norms and traditions. Therefore, it is essential to incorporate organizational behavior that recognizes the divergence not only among the laborers but also between the individuals and the authorities.

Poor communication facilitates the emergence of operational uncertainties in a company. The procedures for avoiding such uncertainties are complex and have profound effects on the relationship between organizational behavior and teamwork. For the efficient performance of a team, the management ensures the establishment of smooth communication channels for uninterrupted and speedy interactions to remove the operational uncertainties (Mehra, 2018). In an enterprise setting, assertions from authority may create a culture of submission instead of promoting cooperation. Similarly, the elements of achieving and nurturing influence the relationship between associations and workforce habits.

Conclusion

Consequently, there are different emerging trends within the corporate banking sector due to certain influential values. The various qualities that attribute to proficient growth and development enshrine technological advancement, effective human resource management, and sustainable financing. The advent of the pandemic posed a significant challenge towards the various institutions due to the slowdown of economic activities. As a result, the unemployment rate increased thus risking the living conditions across the global population. However, the concept fostered the paradigm shift of human behavior towards the digitization era, engulfing the prominent use of computers and online features to complete business transactions. The movement of people towards the tech-based interaction is an opportunity for the banking industry in the east and south-east to enhance the market acquisition of clients locally and internationally during the post-pandemic duration.

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References

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Lurie, N., Keusch, G. T., & Dzau, V. J. (2021). Urgent lessons from COVID 19: why the world needs a standing, coordinated system and sustainable financing for global research and development. The Lancet. Web.

Mehra, M. R. (2018). Human resource management and its importance for today’s organizations. Journal of HR, Organizational Behavior & Entrepreneurship Development, 2(2), 15-20. Web.

Mole, K., North, D., & Baldock, R. (2017). Which SMEs seek external support? Business characteristics, management behavior, and external influences in a contingency approach. Environment and Planning C: Politics and Space, 35(3), 476-499. Web.

Muthukumar, R., Ramakrishnan, L., & Krishnamacharyulu, C. S. G. (2017). Turnaround of BlackBerry. Journal of Management Cases, 4. Web.

Murshed, S. M., Al-Hyari, A. M., Wendel, J., & Ansart, L. (2018). Design and implementation of a 4D web application for analytical visualization of smart city applications. ISPRS International Journal of Geo-Information, 7(7), 276. Web.

Obermeier, G., & Auinger, A. (2019). Human-Computer interaction in physical retail environments and the impact on customer experience: Systematic literature review and research agenda. International Conference on Human-Computer Interaction (pp. 51-66). Springer, Cham. Web.

Obrist, M., Ranasinghe, N., & Spence, C. (2017). Multisensory human-computer interaction. International Journal of Human-Computer Studies, 107. Web.

Shilling, M., & Celner, A. (2021). 2021 banking and capital markets outlook. Deloitte Insights. Web.

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Smith, C. (n.a). The industry and its structure.

Wigert, B., & Harter, J. (2017). Re-engineering performance management. Gallup.com. Web.

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