A challenge for client data management and the key to improved products and services for financial institutions
Financial institutions are exposed to a greater regulatory pressure on the part of various national and international authorities, especially from Europe and the USA. The Foreign Account Tax Compliance Act (FATCA), the Automatic Exchange of Information (AEoI), MiFID II or the Dodd-Frank-Act (DFA) are just some examples of regulations that a bank has to comply with. All these regulations have one thing in common: They all lead to substantial challenges concerning conformity and completeness of client data. In our new publication we introduce challenges for client data management based on the Automatic Exchange of Information (AEoI) and reveal opportunities to improve banking products and services.