Outsourcing, today and tomorrow
As the financial markets continue to evolve, financial institutions are working to grow and maintain profits while adjusting to ever-changing regulations and the effects of the downturn on profitability and performance.
Successful institutions will need to reassess their operating models and address the effects of regulatory reform, competitive dynamics, evolving markets and increased expectations from stakeholders. The main challenges currently faced by banking institutions can be categorised as follows:
- Banking industry strategic challenges
- Banking industry regulatory challenges
- Banking industry operational efficiency challenges
Leveraging the value of outsourcing
Overcoming compliance challenges
Demands on compliance functions are rapidly increasing and so are the risks associated with failing to meet these demands. An organisation’s non-compliance with regulatory requirements can result in legal sanctions, consent decrees, prosecution, liability suits, failed business strategies and damage to reputation and brand. In extreme cases, non-compliance can threaten the very existence of the organisation.
Inside magazine issue 4, March 2014
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).