Global Financial Institution Penalties on the Decline
The total volume of fines levied to financial institutions for compliance breaches was approximately 176 compared to 760 in the same period the year prior.
Global Financial Institution Fines for AML and Data Privacy Fall 47% in H1 2021
Fenergo has released its half year annual findings on global financial institution enforcement actions which shows penalties have fallen by 25%.
Fenergo Research Finds That Just One Third of Global Asset Managers Have Completed Their Digital Transformation Projects
Fenergo Research Finds That Just One Third of Global Asset Managers Have Completed Their Digital Transformation Projects
Global Financial Institution Fines for AML, Data Privacy and MiFID Rise 27% in 2020
APAC region saw single biggest regional increase from $6.6 million in 2019 to $5.2 billion in 2020
Global Business & Commercial Banking Market Sees $3.3 Trillion In Losses Due To Operational Inefficiencies
Traditional banks risk extinction as slow onboarding and manual processes drive customers away.
Wealth Management firms haemorrhage clients due to lack of digital advancement
Almost one-third of wealth management firms take over four weeks to onboard new clients, with 9 out of 10 firms lacking self-service options for younger customers.
Outdated Technology Preventing Banks from Investing in Disruptive Technologies
Outdated Technology Preventing Banks from Investing in Disruptive Technologies, according to Fenergo Survey
Survey Finds Lack of Departmental Collaboration Is Prohibiting Digital Transformation
60% of Financial Institutions Rate themselves as Intermediate or Beginner in the Maturity of their CLM Digital Transformation Strategy
Poor Customer Experience Costs Financial Institutions $10 Billion Per Year
1 out of 3 Financial Institutions Lost Customers Due to Inefficient or Slow Onboarding Processes
Global Financial Institutions Fined $26 Billion for AML, Sanctions & KYC Non-Compliance
A decade after the Lehman’s Collapse, Fenergo unveils data of fines imposed on financial institutions over the last decade
Institutional Banks Struggle with Cross-Jurisdictional Compliance
New research from Fenergo and Aite Group claims financial institutions must achieve a global view of clients to ensure cross-border compliance.
Research Study on Time, Cost and Challenges of Client Onboarding
Study finds that onboarding can take up to 34 weeks and cost up to $25,000 per client.
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