This article and video appear in the Davos 2017 edition of World Finance Magazine and provide a practitioner’s perspective on the World Economic Forum’s initiative of promoting Global Financial Inclusion.
Accuity’s, Tom Golding discusses the impact of derisking and how to foster financial inclusion with better compliance and risk management processes, systems and culture.
In his view, there are low-risk business opportunities in high-risk geographies. “Banks need to be confident that they are effectively managing the risk of doing profitable business with entities, even if in high-risk regions. Correspondent banks and other service providers within those regions need to be able to demonstrate that they have high standards of compliance and risk management processes, systems and culture in place.”
Hear Tom Golding speak on derisking, financial inclusion and compliance culture in this World Finance video