Nobody knows if U.S. banks will ever be subjected to new rules that make it easier for customers to take their accounts elsewhere, but they would be wise to prepare for the eventuality
BSG in the spotlight
As Puerto Rico’s banks and financial services companies face increased pressure from regulators, boards of directors, stockholders and competitors, they are looking for more cost-effective ways to meet their complex business challenges.
Consulting firm Bank Solutions Group expands in Puerto Rico with the addition of Miguel Vargas, an experienced banking and payments executive and consulting expert.
There’s no denying that the banking industry is expected to shoulder an enormous compliance burden. It is ever more expensive, time-consuming, and yes, sometimes of dubious utility.
Rather than decrying increased regulation, bankers can embrace the new reality and turn their compliance operation into a competitive advantage.
Growing wealth management in a contracting market requires intense analytical scrutiny of your competition’s business model and fee structures – and your own.