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Why RegTech will be Asian banks’ next big focus area


Source: MIS Asia

Bain & Company estimates that governance, risk and compliance costs account for 15 to 20 percent of the total operating cost for most major banks globally in 2016. A LexisNexis Risk Solution study last year also found that financial institutions in China, Hong Kong, Singapore, Malaysia, Indonesia and Thailand are conservatively spending an estimated US$1.5 billion on anti-money laundering (AML) compliance alone.

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