Accuity: Doing it by the Book
Posted: 1 October 2017 | Source: Fintech Finance
“Sooner or later, everyone sits down to a banquet of consequences,” Robert Louis Stephenson once wrote, and when it comes to reform of financial systems it seems that banquet is now repeating on us.
The strain that ever-more-stringeant regulation is putting on the global financial services marketplace is in itself creating a creeping threat to economies through a significant drop in global correspondent banking relationships, linked to de-risking by the world’s ‘premier league’ banks.
This, warns global financial data super power Accuity, has the potential to significantly increase financial crime and threaten world security by removing many of the checks and balances that established banks have traditionally brought to international payments. At the same time, local businesses are potentially left without an important bridge to the international financial community.