Focusing only on complying with the regulatory requirements
Regulatory requirements have increased over recent years, changes are made ever more frequently and the time frames for implementation are often very short, which can result setting up an integrated finance and risk architecture taking up to ten years. In times of persistently low interest rates, banks are challenged more than ever to review their business model and continuously work on their cost-income ratio. Reducing the headcount is not always the only solution. These days however, banks tend to focus on complying with the numerous regulatory requirements. As a result, the goal of creating an integrated finance and risk architecture, and thus improve efficiency, sometimes gets pushed to the bottom of the agenda.