Cost-cutting measures continue to put more pressure on bank resources to do more with less. A greater level of competition — not only from traditional players but also from fintechs — and heightened expectations from consumers, as well as regulators, are squeezing profit margins. This is forcing banks to re-evaluate how they structure their cost centers, including compliance. The increasing digitalization of the business with its new threats amplifies the already existing AML regulatory compliance burden, including the potential need for new IT investment and experienced AML compliance talent in an already scarce market. These challenges can make business process outsourcing for AML compliance an attractive solution. Learn how you can leverage the power of compliance-as-a-service to help reduce cost and increase efficiency while more effectively managing your institution's financial crime risk, improving AML compliance, and strengthening the brand reputation.
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