Banks and their regulators struggle to agree on a level of regulation that provides a suitable operating framework for a successful and profitable business without endangering the economic well being of the state and its citizens. But is more regulation the way to move forward safely?
Viewers from the outside may not fully appreciate or understand these complexities of banking in the 21st century. But is complexity a defense for a perceived unwillingness to change? The 2012 EIU report on accountability in financial services has uncovered how C-level executives view their responsibilities – beyond maximising profits.
The Economist Business Unit (EIU) survey reveals that the financial services industry is still struggling to balance short-term, bottom-line results with longer-term and wider societal goals.
When you take a look back over 2011, what will be the the stand out memory? Will it be the struggles in Greece and the other Eurozone countries to restructure their debt? How about the new regulatory changes or the new regulatory bodies in the US? David Rogers, SAS, says that many of these old problems caused by one overriding issue – data. What will you be doing about data in 2012?
Financial institutions worldwide have begun to realize that data isn’t an operational issue reserved for the IT department; instead it should be considered an asset with fundamental strategic importance. Find out why data has risen to become a board-level issue.
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