Wells Fargo - Partnering for success: Compliance as a competitive advantage
In today’s ever changing and complex business environment, financial institutions are learning to view compliance as a “team sport”, where transparency and sharing of best practices benefits all. Accordingly, financial institutions are focusing less on “transactions” and more on “relationships.” Going “deep” means going beyond program basics and discussing true risk (e.g. customer base, geographic footprint). This partnership approach, where banks lead with sharing success stories as well as challenges, doesn’t just strengthen bank AML programs, but also protects the larger financial industry.