Peacefully administering a continent together – an inspiring reality

The Hague, 7 December 2018 – An exciting part of The Netherlands’ 2018 Polar Symposium has been the ceremonial presentation of the Antarctic Blanc expedition flag to the Arctic Ambassador of The Netherlands, Ms. Carola Van Rijnsoever by a delegation of the Global Offshore Sailing.

This special occasion recognized the commitment of The Netherlands in preserving Antarctica as a natural reserve, devoted to peace and science. In addition, it’s has also been an opportunity to remember the explorers, scientists and sailors who set foot on the Antarctic continent to discover and made us all aware how beautiful and equally important this ecosystem and its protection for our planet is.

In his speech, Antarctic Blanc expedition leader Jochen Werne emphasised the importance of the Antarctic Treaty not only for the white continent, but also as an encouraging diplomatic achievement that underscores the human capacity to peacefully find intelligent solutions, even when it comes to jointly administer an entire continent.

He underscored, that by visiting and exploring our planet’s poles, the Netherland’s Polar Programme scientists, in collaboration with the international community of polar scientists have been a great inspiration for future generations of scientists and explorers worldwide. Due to the engagement for the Antarctic, and the establishment of the Dutch Dirck Gerritsz Laboratory at the British Rothera Research Station in 2013, The Netherlands today play an important role for the future of the white continent. By acceding the Antarctic Treaty  on March 30, 1967 with the goal that “in the interest of all mankind Antarctica shall continue forever to be used exclusively for peaceful purposes and shall not become the scene or object of international discord”, The Netherlands underlined its commitment as one of the leading countries engaged in preserving this ecosystem as “a natural reserve, devoted to peace and science”. This has been made clear to everyone by The Netherland’s signature to the Antarctic Environment Protocol on January 14, 1998.

After the ceremony Dutch Arctic Ambassador Carola von Rijnsoever also signed the expedition flag underlining the strong commitment of The Netherlands to Antarctica. Prior in this year His Serene Highness Prince Albert II underlined Monaco’s commitment with his signature given in a ceremony at the Yacht Club de Monaco.

In February 2018, inspired by the era of the great explorers, the 12 members of the international Expedition ANTARTIC BLANC set sail to Antarctica through one of the most dangerous seaways on the planet, the Drake-Passage. Their aim was to raise international awareness and draw attention to the essential need to maintain and protect the unique Antarctic ecosystem. On Deception Island, the Expedition recognized the Antarctic explorers and the establishment of the Antarctic Treaty, in a solemn and dignified manner, paying tribute in the form of an international commemoration ceremony. A wreath formed out of Antarctic ice, was laid in the name of 19 nations, which gave permission to officially act on behalf of them. In addition, ANTARCTIC BLANC supported the UNEP’s “Clean Seas” initiative to combat plastic waste in and on the world’s oceans. Furthermore, the expedition gathered data for the University of Connecticut’s and the Northeastern University’s Ocean Genome Legacy Center Research Project for the meta-barcoding of plankton, which in turn could play a fundamental role in providing answers to the ecosystem’s response to climate change.

Netherlands’ Polar Symposium Keynote Highlights

Captured in a video. IMPRESSIONS: Expedition Antarctic Blanc & The Netherlands Polar Symposium Keynote Highlights (Special Video Cut). GOST delegation hands over Expedition flag to the Ministerie van Buitenlandse Zaken Arctic Ambassador Carola van Rijnsoever. Keynotes held by Carola van Rijnsoever and Jochen Werne, Expedition Leader. GOST Delegation: Bernd Lehmann, Götz Credé, Philippe Quynh Nguyen & Christopher Betjemann III

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Challenging the status quo – Design Thinking and the financial industry

McKinsey Quarterly recently released an inspiring podcast entitled “Tapping into the business value of design” in which Simon London  talks to McKinsey partners Benedict Sheppard and Hyo Yeon. It is very satisfying to see that the interview reflects many of the thoughts that led Bankhaus August Lenz & Co. AG, Mediolanum Banking Group to decide to launch a portrait card package to its German clients. This is the first time that a portrait cards have been launched for German private customers. The cards question the current design status of credit cards and offer not only a classic payment function, but also a 360° customer service experience combining digital, telephone and personal exchange options. 

It has been a great experience challenging again the status quo, together with dedicated and highly experienced and motivated teams within the bank as well as with technology and card industry partners supporting the project.

Enjoy the McKinsey Quarterly podcast  

#design #designthinking #statusquo #creditcard #maestro #mastercard #innovation #banking #bankverlag #payments #ux 

„It’s not information overload. It’s filter failure.“

Author Jochen Werne – Original in German at Bank-Blog – Translation by DeepL

Banks have to become guides for investors

Financial blogs, online communities & Co.: The ubiquitous flood of information can be both a curse and a blessing for bank customers and investors. Today more than ever, banks and savings banks must be “guides” for their customers.

Anyone who wants to invest money today gets a flood of information about the net. Dedicated private investors worldwide can be almost as well informed as professionals, in case of interest and sufficient know-how and time. Never before in the history of mankind have so many people worldwide had so much information at their disposal. Whether prices in real time, the latest assessments by analysts or experts, key figures on a security in an industry comparison, the diversity of opinion in a community – all this is available around the clock.

How intensively and purposefully this offer is used is another question. It can be assumed that only a minority is so urgently concerned with their investment or can be so concerned at all. In addition, the situation of the decision-maker is adversely affected by two factors: the excessive amount of unfiltered information and the classic behavioral finance problem.

Coping with the abundance of data and big data

Alvin Toffler, who brought the term “information overload” to prominence in his bestseller “Future Shock” in 1970, described the phenomenon and its consequences as follows:

“Information overload occurs when the input quantity of a system exceeds its processing capacity. Decision makers have a fairly limited cognitive processing capacity. Therefore, if information overload occurs, it is likely that a decrease in decision quality will occur.”

Consequently, it can be concluded that the wealth of information that accumulates every day can hardly be processed by a classic investor alone, let alone placed in the right context. In addition, there is an almost unmanageable and constantly growing mass of financial products for private customers. In short, a large proportion of investment decisions are therefore not made analytically correct, but spontaneously subjectively and emotionally, as the studies by Nobel Prize winners Kahneman and Tversky show.

Banks as a guide only for wealthy clients?

Clay Shirky, writer and consultant for Social and Economic Effects of Internet technologies and well-known in New Media circles, presented an interesting reflection on the problem of information overload:

„It’s not information overload. It’s filter failure.“

This provides a great opportunity for traditional banks to position themselves as problem solvers for the investor. The alternative – at least for wealthy private clients – apart from filtering their own information mass, is dialogue with a competent expert. A person they trust – and trust to not only filter out from the wealth of data what is relevant to their needs, but also to protect them from the classic emotional mistakes of financial decisions in volatile markets.

Development of a new, adequate support concept for all bank customers

All those who do not belong to this clientele, and this is mostly the classic retail customer, have little more than to accept the zero interest rate on their accounts and short-term securities. According to Bundesbank statistics, the majority of Germans have invested their assets in these forms of investment. This makes the Federal Republic a leading nation in financial matters when it comes to missed opportunities, as can be read again and again in the Sunday editions of the major national daily newspapers.

Today more than ever, the function of bank and financial advisors must be to act as filters and guides for customers in the jungle, providing them with a flood of information. Because no algorithm, no digital advisory service can protect the investor from an ill-considered, intuitive and possibly wrong decision. For modern bank management, this means setting up a completely different support concept with cost-efficient consulting structures, a powerful and highly flexible team and the appropriate digital and mobile equipment.