Since the 2008 global financial crisis, banks have been fined over $300 billion for regulatory misconduct that includes extensive mishandling of customer relationships. Most banks rue that keeping up with taxing regulations amid shrinking margins has affected their focus on innovation.
We conducted a Q&A interview with Prasoon, Vice President at Société Générale Global Solution Centre, around digital transformation, and the future including blockchain and cryptocurrencies.
About Prasoon...
A lot is being read, written or heard about GDPR – it’s relevance, implications to institutions that collect personal data, and ramifications of non-compliance. Therefore, this will not deal with any of these in detail. Keeping it simple we will try exploring 4 specific impact points within financial institutions because of this regulation, and therefore what changes this may ask to be brought about in systems, while meeting its terms under the 99 articles that GDPR comprises of.
In this third post, the final instalment of the series, we’ll see why Banking as a Platform (BaaP) strategy makes sense for banks of the future
Curated Marketplace
“Why it's simply impassible!
Alice: Why, don't you mean impossible?
Door: No, I do mean impassible. (chuckles) Nothing's impossible!”― Lewis Carroll, Alice's Adventures in Wonderland & Through the Looking-Glass