The Compliance Ecosystem Revisted

Lessons learnt in the banking industry

• The scope of the compliance function in the banking industry – and the pressure that comes with it – is still growing.
• To release parts of this pressure and in order to remain compliant, banks require their clients to be able to deliver increasing amounts of data.
• Less heavily requlated sectors can learn from the banking industry, as we see a need for maturing the compliance function in those sectors as well.

1. Introduction

It's not that long ago that compliance was not even in the backseat, but was regarded as a speedbump at most. Compliance was considered a process that needed to be handled to execute business or new transactions. Clearly times have changed. Over the past decades compliance first made it into the trunk, subsequently into the backseat and now (in som...

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Lessons learnt in the banking industry

1. Introduction

2. The scope of the compliance function in the banking industry – and the pressure that comes with it – is still growing.

2.1. Trend 1: The increasing scope of compliance and the pressure that comes with it

2.2. Trend 2: To release parts of this pressure and in order to remain compliant, banks require their clients to be able to deliver increasing amounts of data to strengthen their own compliance activities

3. What lessons can companies learn from the journey banks have been on for two decades

4. Discussion: What is needed from the banks in this regard?