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Philippines Wealth Management Forum 2019 - Highlights - Mark Buesser

Mark Buesser

Chief Executive Officer

IMTF

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Read the transcript here

  • 1. What are the challenges and opportunities for the industry?

    [The] challenges for banks are basically on two sides, one is the operational inefficiencies, the operational risk which they have with all these new things, and the second one is the regulatory risk. And they have to cope, they have to mitigate both. Because one of them means more work, more efficiency and margin, whereas the margins are getting smaller, and the regulatory risk obviously has a lot to do with fines, with reputational stuff which the banks really want to stop after having paid billions of fines across the globe.