WILL DIGITAL BANKING REGULATIONS INCREASE OR DECREASE IN 2020?
Will digital banking regulations increase or decrease in 2020? Let’s take a look at some of the digital banking regulations today. Digital banking regulations The market is changing rapidly and advances in technology are unimaginable. The wave of transformation which has been sweeping through the banking sector. New technologies are fundamentally reshaping the ways customers engage with banks, with ultimate objectives of improved efficiency, reduced costs, and better customer experience. Recent research suggests that digital transformation is giving banks the opportunity to deliver their services at lower costs. Automating manually intensive processes like client onboarding, for example, leads to better speed and lower error frequency. Besides exploring the new opportunities, banks have to face risk - and risk requires regulations. Digital banking regulations are essential to protect consumers and banks. Regulatory compliance is not only critical to avoid fines and legal punis...