Traditional private banks are being disrupted as an increasing number of their relationship managers leave and set up as EAMs to fill gaps in the marketplace by offering bespoke, transparent and non-transaction led services. Although this is a challenge for private banks, it is also an opportunity.
The sooner banks start thinking strategically about CRS, the sooner they can move away from a reactive tactical mind-set and take advantage of the enhanced commercial opportunities a strategic approach brings. Today, a successful CRS implementation can prove to be a strong strategic differentiator.
The latest banking regulations are designed to serve a range of purposes including preventing fraud, protecting customers and promoting capital adequacy. Compliance may well lead to increased costs, but new technology can mitigate that.
The pressure is on to comply swiftly and efficiently with new regulations, introduce new products fast and enter new markets efficiently to maximise opportunity and minimise risk. Orbium’s effective and proven methodology helps banks address these challenges.