BBVA, one of the largest financial institutions in the world, announced that it is adopting Google’s cloud-based collaboration and communication suite Google Apps for Business to increase productivity and drive innovation, said the bank in a press release.rnrnOver 35,000 BBVA workers in Spain will initially use the productivity tools integrated in to the Google Apps suite including: Gmail with Google Chat, Google Calendar, Google Docs, Google Groups, Google Sites and Google Video. By the end of 2012 BBVA expects to migrate 110,000 employees in over 26 countries to Google Apps.rnrnBBVA chose Google Apps to increase efficiency and to help its workers collaborate more easily, regardless of location. BBVA’s new global intranet is the main technology project that will be transformed thanks to Google’s collaboration tools, changing it from a corporate communications and process management site to a place where all employees will be able to share, contribute and manage knowledge globally. In addition, BBVA will create a social network to improve communication and explore new ways of working. rnrnJosé Olalla, CIO at BBVA says, “We were looking for a technology that would transform our business operations – not just make our workers more efficient. Integrating the Google Apps for Business suite with our own tools will allow us to introduce a new way of working where employees have access to all the information they need with just one click, no matter where they are, and can reap the benefits of using advanced collaboration tools.” rnrnBecause they will be able to access the information they need at any time from any internet connected device, anywhere in the world, BBVA’s workers will be able to be more flexible and mobile. Google’s collaboration tools such as Google Talk, Google Sites and Google Docs will allow them to communicate and share ideas more easily – working in a way that they have never experienced before. With Google Docs, for example, many people can simultaneously work in one document – increasing productivity by removing the need to constantly update different versions of a document. rnrn“Companies of all sizes, including those with tens of thousands of employees, are now embracing cloud computing. It means a lot to us that BBVA, one of the largest financial institutions in the world, has decided to migrate to Google Apps. It shows that cloud computing is now a reality – and leading organisations are already realising its potential to transform their business,” comments Sebastián Marotte, Vice President of Google Enterprise EMEA. rnrnBBVA will now join the four million businesses worldwide which are using Google’s enterprise solutions to embrace technological change, and open the door to constant innovation, collaboration and cost savings. rnrn
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The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank
Press Release:"Alpha Services and Holdings announces a strategic partnership with UniCredit in RomaniaMerger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by... detalii
NBR Board decisions on monetary policyIn its meeting of 4 April 2023, the Board of the National Bank of Romania decided:• to keep the monetary policy rate at 7.00 percent per annum;• to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum;• to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and electricity prices, under the impact of significant base effects and the change made to the energy price capping and compensation scheme starting 1... detalii
ING press release:ING posts FY2022 net result of €3,674 million,proposed final 2022 dividend of €0.389 per share 4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%•Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income•Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter•Risk costs declined to 17 bps of average customer lending Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits•On a full-year basis, our primary customer base grew by 585,000•Net core lending growth of €18 billion and net core deposits growth of €25 billion in 2022•Net result of €3,674 million in a challenging year; proposed final 2022 dividend of €0.389 per share CEO statement“Looking back, 2022 was... detalii