When your bank has signed up for Regulatory Maintenance, the cost is fixed in advance. Notify Temenos that a change is needed to the software and we will commit to making these changes on agreed delivery date.
Maintain the Regulatory Relationship
Your bank remains the regulated entity, and still has the responsibility and oversight for the relationship with the regulator.
Efficiency Through Scale
Where possible, we will combine the compliance work for several banks to provide a generic, yet flexible solution, allowing for different interpretations of the regulation and accelerating overall delivery.
KYC (Know Your Customer) is becoming increasingly important in banking compliance. In 2016, Forbes reported that banks spent over $100 billion on regulatory compliance, and predicted that the regulatory costs will rise from 4% to 10% of revenue by 2021.
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