Featured White Paper
Chasing Compliance
Examines the challenges behind compliance and records management, the factors that make it so volatile, and what you can do to create the stability and order that comes with a sustainable compliance solution.
Featured Case Study
ABN AMRO Global Banking Group: Delivering Highly Personalized Letters
Group 1’s DOC1® solution helps ABN AMRO create an infrastructure to quickly and flexibly generate and control its document output.
Challenges & Opportunities
Competing in an Era of Globalization, Accountability and Diversification
Banks. Brokerage houses. Investment funds. Life insurance companies. The walls between banking and brokerage institutions have crumbled in recent years, creating a wave of mergers and acquisitions and a new generation of integrated financial powerhouses bent on invading each others’ turf. At the same time, Sarbanes Oxley (US) and new EU regulations have put financial institutions under a microscope as never before.
On the consumer front, the market continues to migrate to more advanced online services. Financial service firms must increasingly address customer demands for real-time service while complying with new privacy and security safeguards.
Stepping up to regulatory, competitive and customer demands.
- Mergers and acquisitions are fueling growth and rounding out product portfolios, but require extensive data consolidation and integration efforts to realize the promised economies of scale.
- Regulatory compliance requirements, including Sarbanes Oxley and the Basel II framework, are forcing financial institutions to overhaul their information systems, integrate databases, and develop more detailed and timely reporting capabilities.
- Increased efforts against the detection of fraud and money laundering are not only smart — they are part of the new world environment.
- Major commercial and private clients are demanding more complex and sophisticated services, transparent reporting of fees and transactions, graphic-oriented statement presentations, and up–to–the–minute reporting of investment returns. Satisfying customers requires a true, holistic view of accounts.
- At the same time, brokers, asset managers and customer service representatives need a 360-degree view of the customer. Real-time alerts on major transactions and other critical events are necessary to meet customer demands for daily strategic counsel and immediate resolution of problems.
- Shareholder pressure to increase assets under management while reducing cost of operations requires new systems enabling deployment of new products and services with simultaneous reduction of operating costs.
To grow profits amidst market competition and regulatory scrutiny, integrated financial service providers are focusing on their customers as never before. This requires technology that can integrate and consolidate information, produce and manage large volumes of electronic and hardcopy communications, customize messages to individual customers, and eliminate redundancies and other inefficiencies.
Read about our practical solutions for financial services to learn how Pitney Bowes Group 1 Software can help you take on every challenge that comes your way.