By Compli-Serve
On 24 January 2025, the Prudential Authority (PA) announced administrative sanctions against The Standard Bank of South Africa Limited (SBSA) for failing to comply with key provisions of the Financial Intelligence Centre Act, 38 of 2001 (FIC Act). These sanctions followed an inspection conducted by the PA in ...
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CityWire reports that regulatory and compliance obligations remain a persistent challenge for financial advisers, with many struggling to manage client expectations. A recent Citywire South Africa poll found that more than half of the 98 participants cited client misunderstanding of compliance requirements as their biggest hurdle in meeting Financial Intelligence ...
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Global banks have an opportunity to realise between $25 billion and $50 billion in annual efficiency gains by addressing inefficiencies in risk and compliance processes, according to a report by Nasdaq and Boston Consulting Group (BCG). Finextra reports that these savings, achieved without compromising effectiveness, could free up resources for ...
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By Lee Rossini
When clients are unhappy with the service they are receiving, they will not necessarily bring it to your attention. Client pain points refer to specific problems or challenges that clients experience when engaging with a business. In a small financial advice business, these pain points can stem from issues such as lack of trust, unclear communication, high and unexplained charges and fees, or difficulty in accessing personalised financial guidance. Addressing these challenges effectively is crucial for maintaining client satisfaction, fostering loyalty, and growing the business.
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