New Study Reveals Challenges of Balancing Compliance Costs with Rapid Change and Customer Expectations
Discover how financial institutions can balance competing priorities in this commissioned survey conducted by Forrester Consulting.
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The ever-changing technological and economic environment has redefined the compliance landscape for financial institutions. With 98% of institutions reporting an increase in financial crime compliance (FCC) costs, the economic pressures are undeniable.
However, there are opportunities to evolve FCC. As institutions start to do this, a focus on customer experience is key. With the right technologies and partnerships, financial institutions can achieve sustainable growth in customer numbers and revenue while meeting, and sometimes exceeding, applicable FCC requirements.
For this study, LexisNexis® Risk Solutions commissioned Forrester Consulting to explore cost of compliance across the globe, key challenges facing financial institutions, as well as key opportunities to evolve for the future.
However, there are opportunities to evolve FCC. As institutions start to do this, a focus on customer experience is key. With the right technologies and partnerships, financial institutions can achieve sustainable growth in customer numbers and revenue while meeting, and sometimes exceeding, applicable FCC requirements.
For this study, LexisNexis® Risk Solutions commissioned Forrester Consulting to explore cost of compliance across the globe, key challenges facing financial institutions, as well as key opportunities to evolve for the future.