How can compliance become more effective and even cheaper? - Conrad Lim

Conrad Lim of LGT Bank

Feb 7, 2019

Conrad Lim Managing Director & Deputy Chief Executive Officer, Senior Regulatory Counsel Asia at LGT Bank discussed how compliance can become more effective and even cheaper.

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1. How can compliance become more effective and even cheaper?

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1. How can compliance become more effective and even cheaper?

How can something become cheaper without sacrificing quality? If there were fewer difficulties and challenges, and if regulations were straightforward and less complicated, if there was less individual decisionmaking, then I suppose the need for greater quality and therefore more expensive solutions would be reduced. Ultimately,you could say that the more mundane repetitive mechanical processes could be improved in terms of digitalization. Technology will, if we do it smartly enough, reduce our costs, but ultimately, it’s in how one runs and how one designs the business. Is it done cheaply, and can you deliver quality product or service at the end of that? We’ll find out.

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