Bank Administration Institute (BAI)
What Is the Bank Administration Institute (BAI)?
The Bank Administration Institute (BAI) is a non-profit organization that spotlights on further developing banking standards (in the operations and auditing areas) while analyzing risks and advancing efficiency improving technology arrangements.
The BAI runs professional schools, conferences, and individual programs. As well as educating, learning, and development programs, it likewise operates a research affiliate that produces different reports.
Understanding the Bank Administration Institute (BAI)
The BAI likewise works as a networking and central resource center for the individuals who are responsible for operations, compliance, and auditing capabilities inside the financial services industry. The organization prides itself on giving fair research that permits member institutions to benchmark their performance on metrics, for example, deposit growth, interest rate risk, and other important industry boundaries.
The BAI has likewise been at the front line of mechanical innovation in banking and financial services, leading research into new advancements and upholding for their implementation. For example, the BAI helped pioneer the appearance of automated teller machines (ATMs) during the 1980s and online banking in the internet age.
BAI collaborates with financial services leaders from around the globe working in an assortment of industry fragments, and specifically:
- Large and Regional Banks
- Mortgage Companies
- Regulatory Agencies
- Credit Unions
- Community Banks
- Industry Solutions Providers and Fintech Companies
History of the Bank Administration Institute
The Bank Administration Institute was founded in the wake of the Great Depression of the 1920s, while regional banking auditors met to talk about the financial disaster and its ramifications. That group of industry leaders found face to face associations with be important and significant for their work, and they realized that a national organization would greatly work on the exchange of data.
Not long after that first meeting in 1924, the organization — initially called the National Association of Bank Auditors and Controllers (NABAC) — started to hold annual conventions and circulate a magazine zeroed in on financial industry subjects.
In 1981, BAI sent off the primary electronic data service, Innerline, giving 24-hour access to world news briefs, American Banker news service, financial data on 8,500 publicly held corporations, and email and online registration for BAI conferences. Afterward, BAI conferences developed to zero in on executing and utilizing evolving advances, including the principal ATMs.
During the 2010s, the BAI moved its concentration to advancing new financial innovations, for example, electronic online banking, the development of mobile applications, and digital payments platforms.
The 1928 convention was gone to by 19 individuals. In 2015, the BAI conference event saw in excess of 3,000 financial services professionals in attendance.
Features
- BAI gives top to bottom comparative analytics and market research, professional skills and education programs, networking opportunities, and leadership training.
- The BAI was founded in 1924 in response to the market crash that prompted the Great Depression.
- The Bank Administration Institute (BAI) is a non-benefit industry organization offering help and resources to the banking sector.
