Posts Tagged ‘regulatory compliance’

New Retention Policies in Microsoft Teams

Technology is a beautiful thing! It is crazy to think about how far we have come in the last 10 years with regards to our communication capabilities. With all these improvements and enhancements come the need for companies to adapt to that change. Many financial companies are still highly dependent on the traditional communication methods […]

How To Tell If You Need A Business Intelligence Program

The ideal candidate for a business intelligence (BI) program is a firm that is seeking greater operational efficiency, increased flexibility and interoperability, better management reporting, mitigation of regulatory or other risks, enhanced transparency, access and support, and the ability to make informed business decisions. It is a firm that believes the investment in operational efficiency, […]

Perficient Beefs Up Financial Services Through Acquisition

We’re only a couple days into the new year and are already making smart moves that further position our company as a leader in numerous industries, including financial services. Today, Perficient announced the acquisition of RAS & Associates, a Denver-based operations and management consulting firm focused on partnering with organizations to find the “how.” With […]

Stress Tests: What Bank Bosses Worry About Most

If you work in financial services, you may have noticed that your executives aren’t getting enough sleep. They’re most likely tossing and turning at night, thinking about the shift to digital, stringent regulations, and, as The Financial Times recently said: “Bank bosses perhaps are worried most about not being publically humiliated by a failing grade.” […]

Servicing Customers In Financial Services With CX Technology

It’s no secret that customer satisfaction scores go up when customers consistently get what they want. When they have unanswered questions about your products and services, they’re not likely to become your biggest cheerleaders. And, chances are that if your prospects find themselves with questions that can’t be answered, they’re not going to convert. We […]

Banks Might Not Have To Cover Fraudulent Activity

I recently received a letter from American Express, warning me about a data breach that occurred with a third-party service provider several years ago. Although the letter doesn’t name the company who suffered the breach, it does mention that I’ve done business with them. The letter goes on to say American Express will continue to […]

The DOL’s New Conflict Of Interest Rule, In A Nutshell

In April of this year, the U.S. Department of Labor finalized a new rule that is meant to protect individuals from receiving retirement investment advice that, in reality, may not be in their best interest. It’s a complicated rule that addresses the conflict of interest that financial advisors frequently encounter, such as receiving commission or […]

$17 Million For An Inadequate AML Program

Recent news from the Financial Industry Regulatory Authority (FINRA) reminds us of the importance of having a solid anti-money laundering (AML) compliance program. A well-known financial services company was fined $17 million for not having sufficient processes that could enable them “properly prevent or detect, investigate, and report suspicious activity.” While the organization significantly grew […]

Financial services firms challenged in using data to serve customers

“Retailers are light years ahead of Wall Street in analyzing their data to find out what their customers want,” said to Peter Giordano, managing director at Oppenheimer & Co. “Instead of analyzing customer data, the industry still relies on salespeople, relationships and actual trades to tell us what clients want.” Big data might be a […]

The 5 Most Significant Compliance Issues in Financial Services

ThinkAdvisor recently published a list of the top 5 compliance headaches faced by advisors and BDs. Mandatory Succession Planning Rules for RIAs, which could require advisors to “plan for market stress and other events that may prevent an advisor from serving its clients.” These new rules are expected by the end of 2015. Form ADV – […]

Leverage data to improve compliance like the SEC and FINRA

The SEC’s Office of Compliance Inspections and Examinations (OCIE) is responsible for protecting retail investors and assessing market-wide risks, but now is shifting its attention also toward figuring out how to leverage data analytics to identify potential for illegal trading activities, conflicts of interest or other misconduct, according to a recent article by ThinkAdvisor, Compliance Data Analytics: Do […]

Financial services customers are now expecting compliance expertise

A recent survey of asset managers, broker/dealers, alternative managers and wealth managers found that compliance is now a core business practice of financial services firms, yet many are not yet devoting the financial resources toward making these programs truly effective. Firms have been facing enhanced scrutiny for years: 81% of respondents stated that they are […]

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