Forrester research - True Cost of Compliance APAC Study

Key Highlights

1. Unveiling Compliance Costs: Explore a detailed breakdown of compliance costs, with China and Japan taking the lead at $20.4 billion and $17.8 billion. Labor (41%) and technology (32%) play pivotal roles, shaped by rising regulations, banking crises, and digital integration.
2. Navigating Challenges: Top challenges include regulatory reporting, positive identification of sanctioned entities or PEPs, and KYC for account onboarding. Gain insights into institutions' struggles, crucial for strategic planning.
3. Strategic Opportunities: Financial Institutions plan to enhance KYC procedures, internal compliance solutions, data quality, transaction monitoring, and AML over the next few years. Anticipated benefits include streamlined products, increased efficiencies, and improved collaboration. Learn from their planned activities for strategic planning.
4. Expert Analysis by Forrester: Benefit from Forrester's renowned research expertise, ensuring a robust and insightful exploration of the compliance scenario in APAC.

Why This Study Matters:
In a world where compliance is a critical aspect of financial institution operations, this study goes beyond the surface, unraveling the complexities that institutions are encountered while implementing a compliance program in APAC. Whether you're a financial professional, industry expert, or simply curious about this evolving landscape, this study is your gateway to a deeper understanding.

Stay tuned as LexisNexis® Risk Solutions unveil a wealth of knowledge, providing a comprehensive perspective on the true cost of compliance in APAC. This study isn't just a report; it's a strategic tool to empower institutions in navigating the compliance challenges effectively.