Scale your business effortlessly across borders
What we hear quite often is that banks are not prepared to serve clients in foreign jurisdictions due to the regulatory uncertainties involved. However, serving clients in a cross-border context is extremely easy with digital compliance rules, and expansion into new jurisdictions takes place at the push of a button. Find out how working with digital compliance rules enables banking across borders.
Banking across borders: new jurisdictions at the click of a button
Machine-readable regulatory rules have many advantages, but the most important is certainly that they enable the effortless international expansion of financial services. Subscribing to cross-border rules or market-specific rules that govern new business areas is particularly easy with digital rules and provides an immediate way to extend the reach of banks, wealth managers and asset managers.
Digital compliance rules are divisible, flexible and scalable so that banks and other financial institutions can initially only buy the exact regulations they need first, for customers already on board or to implement an initial business strategy. By creating a comfort zone with the technology early on, additional regulatory coverage and reliable answers are available that can be added at any time and enable banking across borders.
Reduced compliance risks with RegTech solution
Further advantages of the digital compliance rules come almost casually. First, the nature of digital compliance rules is that they provide clear yes-or-no answers to even the most complex questions, further reducing the compliance risk of international expansion strategies. This also reduces the need for costly compliance training. The clarity provided by a digital compliance solution significantly reduces the need for client advisors to take the lead in complex constellations.
Supporting challenger banks to grow across borders
One of the issues we are more frequently exposed to is supporting challenger banks in their growth and internationalisation efforts. And we are certainly well equipped for this. To keep a very long story short, we can provide challenger banks with answers to the most frequently asked questions right after unpacking. Are you unsure whether you can offer a credit card to a particular customer or open a bank account for them? No problem with our digital custody and payment rules.
Get in touch now
We could only deal with a few topics here. If you would like to learn more about how you can leverage digital compliance rules and regulatory technology for your international growth plans, contact us now.