Banks operate in a global marketplace and as a result the scope and complexity of their activities have expanded dramatically and face an ever changing and increasingly complex regulatory environment. Moreover, a compliance failure can result in large financial penalties, regulatory constraints, and reputational damage that can strategically affect an organisation.
The Anchor Consulting compliance team is well qualified and experienced to assist banks address these challenges, staying abreast of changing regulatory requirements, understanding regulatory expectations and industry practices. Our highly qualified and experienced professionals provide a full range of regulatory compliance risk management services. We do not offer generic products or solutions. Instead, we offer practical regulatory compliance advice and solutions that are tailored to each client’s individual business needs.
Our commitment to client service means that Anchor Consulting brings the right skills and resources with the relevant experience for your specific needs. Similarly, from a business perspective, we have specialists with deep industry experience – some of our resources have been involved in assisting government to write the legislation and therefore have expert knowledge on physical implementations of these regulations into your organisation.
Our areas of expertise within the compliance domain includes, but is not limited to:
- BASEL 3
Banks are transforming. They need to become more relevant to their customers if they are to compete in this fast paced technology dominated market. With this goal in mind many are trying to upgrade or replace their aging legacy systems with new core baking systems.
Anchor specialises in the following 3 domains:
Emerging discipline that seeks to provide an independent and objective oversight of the likely future performance of major projects for those responsible for sanctioning, financing or assuring such undertakings. Anchor’s approach to Programme Assurance is to assist our clients in navigating the challenges of large, complex programme, and helping to rectify issue before they become an audit finding.
Core Banking implementations
We understand that implementing a new core system is one of the most challenging initiatives a bank can undertake. It requires bold decisions and rigorous program implementation to achieve sustainable business and technology transformation. But only through core systems transformation can banks achieve the necessary break-through to operate efficiently and compete effectively. That’s where Anchor Consulting can help.
A strategy is only effective if implemented correctly. Anchor has experience in translating strategic intent into strategic reality – through strategy translation and strategy implementation. Our experienced team has delivered projects in the following domains:
- Business case development
- Requirements gathering
- Functional solutions
- Migration strategies
- Business Analysis
- Program / Project Management
- Business and IT process mapping
- Financial management
Cost optimisation speaks to the way the engine room runs in an organisation – enabling effective operations, ensuring costs are under control, managed and visible. A business that has a solid understanding of the cost base, the levers involved, and the transparency of management information to be agile, is a business that will remain relevant and competitive.
Anchor Consulting believes that there is a way for all financial services institutions, and in particular Banks, to increase their revenue and continue to achieve profitable growth. This can be realised through focused, outcomes based engagements, dealing with three specific challenges: customer engagement, customer experience and cross sales.
Customer Engagement: Every customer touch point within a Bank is an opportunity to improve the relationship with the customer. It has been proven that improved customer relations increases the Banks share of wallet.
Customer Experience: A well thought through, omni-channel customer experience strategy will enable higher customer satisfaction which will result in increased share of wallet and customer profitability.
Cross Sales: The ability to identify the buying behaviours of a customer, and time the sales proposition correctly is key to enable effective cross sales. Empowering the sales team to ask the right question, at the right time, can be the difference between selling one product as opposed to multiple products.