Financial Services, Banking Executives See Compliance As Looming Concern
Attendees at SLK Global's Connect 2014 conference identify transformational change as key ingredient to staying competitive in coming years.
- (1888PressRelease) August 28, 2014 - Compliance and increasing cost pressures headed the list of concerns at a recent gathering of banking and financial service industry executives hosted by SLK Global, a leading business solutions provider for the U.S. banking, mortgage, title and other financial services industries.
Close to 50 senior executives attended SLK's customer conference, CONNECT 2014, held earlier this month in Colorado Springs, Colorado. The annual event offers senior executives from across the country a forum to exchanges ideas and best practices in the financial services sector, and this year included participants from the banking, mortgage banking, payment services, appraisal and title industries.
Additional concerns listed by conference attendees included interest rate fluctuations and margin pressures and the need to create innovative models to service customers. But by far the biggest issue was the sweeping financial services reform enacted by the federal government over the past two years. New regulations, which have impacted virtually every sector of the financial services industry, especially housing, are forcing companies to devote extra resources to ensure compliance.
"The issues facing banks and financial services companies today threaten their very viability," said Gopal Amin, president and CEO of SLK Global. "However, CONNECT 2014 sparked a lively discussion of potential solutions to those pressures.
Chief among the ideas that were shared was that companies need 'transformational change' in order to remain competitive in today's market. In other words, they need to visualize a better way of doing business, and then bring together the tools and resources to make that shift happen."
Amin added that the desire for transformational change has fueled interest in SLK's engagement model, SmarTrans™. Launched earlier this year, SmarTrans includes a proprietary array of methodologies, templates, checklists, processes and technologies to enable SLK to deliver three times the business value to its clients.
SLK developed its SmarTrans model to maximize business resources and improve processes while reducing costly mistakes in mortgage, banking, payment processing and other financial services sectors, noted Alok Datta, SLK chief operating officer. "We are pleased by the enthusiastic reception of our clients to SmarTrans," said Datta.
About SLK Global
SLK Global is a part of the SLK Group, a leading business process and software services provider with over 5,000 employees across several locations. SLK Global focuses on providing business process management (BPM) solutions to mid-sized and large financial services organizations in the U.S. banking, payments, mortgage lending, title insurance and other financial services sectors.
Founded in 2000, SLK is headquartered in Bangalore, India, and operates in the U.S. from its facility in Dallas, Texas. SLK Global is an ISO 9001:2008 and ISO/IEC 27001:2005 certified company and is SSAE 16 Type II compliant. For more information, please visit www.slkglobalbpo.com. Also follow SLK Global at ( @ ) slkglobalsvcs dot
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