Market Research Report
Regulation in Banking and Payment Industry - Thematic Research
|Regulation in Banking and Payment Industry - Thematic Research|
Published: August 31, 2021
Content info: 35 Pages
Delivery time: 1-2 business days
This report explores the impact of regulation in the banking and payments industry, covering topics such as data privacy, open banking, fair treatment, anti-money laundering, Know Your Customer, and technology.
Financial services providers carry a heavy compliance burden. It is not unusual for 50% of all spend by incumbent banks to be regulatory-driven. The pandemic has increased that cost further. The next big regulatory challenge is the blurring of industry lines. As non-banks diversify into banking and banks diversify out, there is no single regulatory body to regulate across sectors. This creates regulatory loopholes or arbitrage opportunities across sectors while exacerbating those that already exist.
As such, having the experience and judgement to anticipate what is the true spirit of the current regime - as well as where regulators are likely to be prescriptive going forward - can help steer banks towards more sustainable business models.