Johannesburg, 07 Nov 2018
Compliance has never been more critical to the growth and profitability of financial services institutions than it is today. The need is real: unwittingly or not, financial firms are too often the enablers of criminal activities ranging from money-laundering and fraud to corruption and terrorism.
But, the burden of compliance adds costs and complexity to operations. Even worse, the extensive data collection and verifications needed to perform the necessary "due diligence" can turn off customers accustomed to real-time, mobile-enabled services.
As decision-makers grapple with having "too many regulators to manage", they must adopt new approaches and invest in tools and strategies that can help them efficiently navigate the new complexity. To gauge how leading financial institutions are navigating the new compliance landscape, we asked more than 100 industry leaders to contribute their views on issues ranging from the costs of non-compliance to investments in new technologies to automate key compliance activities.
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