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.
