This article by Adobe highlights the importance of delivering great customer experience regardless of regulatory and compliance burdens. “89% of businesses will be competing based on customer experience, despite burdensome security regulations” according to a recent Gartner study. The article also points out that in highly regulated industries (such as FS), the bar is currently […]
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A recent study from Boston-based Cerulli Associates found that advisors are more than 10 times more likely to contact clients via social media (23.6 times a year) than to meet with them in person (2.1 times annually). That concerns me for many reasons, not least of which is social media cannot offer the same support […]
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RegTech are an emerging group of FinTech players focused on minimizing the impact and cost of new regulatory and compliance requirements for Financial Institutions. The American Banker article estimates that governance, risk and compliance (GRC) costs account for 15% to 20% of the total “run the bank” cost base of most major banks. GRC demand […]
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This article provides some very good tips on educating your consumers on e-delivery in times where spammers are actively using e-delivery mimic emails in an attempt to access personal information. As part of your e-migration strategy, evaluating these ideas may help you overcome obstacles to e-migration and eliminate the risk of your consumers being hacked. […]
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The delivery of compliance documents to investors in Canada has been almost 100% via print & mail. Investors have received thousands of prospectuses and other compliance documents in the form of multi-page printed books wrapped in polybags or envelopes and most of these packages have moved from our mail boxes directly to the blue box. […]
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The emergence of FinTech as a disruptor to traditional financial services models dominates the conversation and yet a recent McKinsey report provides a different spin on this trend. As stated in the McKinsey report, the role of FinTech in retail banking and wealth management appears to be introducing alternative business models that are definitely disrupting […]
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Canada’s Anti-Spam Legislation, which came into effect July 1, 2014, is considered among the toughest in the world when it comes to regulating commercial electronic messaging. Up until July 1st 2016 businesses were able to communicate electronically with customers if they had implied consent. Friday July 1st, 2016 will mark the first day of the […]
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A recent paper published by the National Consumer Law Centre titled Paper Statements: An Important Consumer Protection provides some important guidelines to financial institutions that are implementing e-migration strategies. The publication, referencing US legal and compliance guidelines, urges the careful consideration of many consumer choice considerations and ultimately lands on a theme that we strongly support […]
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A recently released Salesforce Global report that surveyed nearly 8000 adults in Canada, Australia, France, Japan, UK and the US, provides some interesting survey results to anyone in the financial services industry in Canada. A key finding that jumped off the page for me was the following: 67% of investors believe that modern tools for financial planning […]
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The Globe and Mail ran a story today called “A new brand of financial adviser” that featured a Canadian Fintech startup, Tridus Wealth Management, and its plans to offer a more cost-effective solution to investors through its use of technology. Tridus is foregoing office space and traditional overhead expenses, emphasizing digital communication over paper and relying […]
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