Russian strategy in Ukraine under pressure. Longer term impact of military action on economy

Emerging markets will dominate global growth - where 85% of humanity lives. Economy keynote speaker

Trust is the most important thing. Future of logistics and supply chain management - keynote speaker

Future of Sales and Marketing beyond COVID - hybrid event in Vilnius: physical audience of 800 + 300 virtual. Digital marketing, location marketing. How to create MAGIC in new marketing campaigns. Future of Marketing Keynote Speaker

Chances of 2 people in 70 having same birthday? Managing Risk in Banking and Financial Services. Why the greatest risks are combinations of very unlikely events, which happen far more often than you expect. Keynote speaker on risk management

Compliance is Dead. How to build trust. Reputation of banks and financial services. Compliance Risks. Why 100% compliance with regulations, ESG requirements etc is often not enough to prevent reputational damage

Life's too short to do things you don't believe in! Why passionate belief in the true value of what you are selling or doing is the number one key to success. Secret of all leadership and marketing - keynote for 1100 people in Vilnius October 2021

Why you can't innovate on Zoom or Teams meetings - Innovation is almost impossible unless breathing same air, in same room

Why the key to rapid innovation is team diversity - survey global CEOs. Innovation keynote speaker

Future Manufacturing 5.0. Lessons from personal life for all manufacturers. Manufacturing Keynote

Future of Manufacturing: diagnostics; predictive analytics, little data and cybersecurity. Keynote

Manufacturing 5 0: The truth about robots, robotics and automation. Future of Manufacturing Keynote

Compliance is dead - except to keep you out of prison. Why Compliance cannot protect your brand or build trust. How to go beyond compliance to do what is ethical, morally right today and in future

Futurist Keynote Speaker: Posts, Slides, Videos - Law Firms, Accountancy, Professional Services

"Compliance is dead except as a defensive strategy to stay out of prison."

Below is summary of keynote presentation for IDC - see slides.

New technology and innovation will create many exciting new opportunities in financial services, for example in online account control, wireless customer communication, video-enabled call-centres, RFID-enabled payment systems and cost reduction in backend processing. However it raises many compliance questions - see video above.

In many areas we can expect customer behaviour to adapt to new technology more quickly than the IT departments of large banks – because it takes only an hour for a customer to adopt a new technology but up to three years to introduce it across a large institution. That is why we need vision which helps us build the right systems.

Market research is a poor guide to how people will behave in years ahead. The future is not about technology alone, but also about emotion, and emotional factors will affect how people actually chose to live. However, innovation will also bring new risks, new regulations and additional compliance issues.

The challenge is to build “future-proofed” IT systems which are powerful, secure and flexible, capable of growing far beyond today's standards for compliance. Huge productivity gains can be made by getting the systems design right in the first place, but to do this we have to look far beyond current requirements, which requires strong leadership and courage when organisations remain so focused on short cost control and on what customers, managers and regulators want today.

We need to understand that compliance with current regulation is dead except as a defensive strategy to keep directors out of prison. Compliance cannot protect personal reputation, nor a brand. Public mood changes rapidly with every new scandal or issue, and with it public expectations, followed by new regulation. Compliance therefore should be regarded only as the absolute minimum standard.

We need to go beyond today's regulations to understand how people will expect banks to do business in future. You can comply perfectly every year with every regulation, yet be judged severely in future when the world moves on and rejects today's standards as deficient or unethical. The answer is to follow an ethical code which is stronger than compliance requires today, and stay ahead of the regulators.

Related news items:
Newer news items:

Thanks for promoting with Facebook LIKE or Tweet. Really interested to read your views. Post below.

Join the Debate! What are your own views?



Search for your future

Our cookie policy

We use cookies for statistical purposes. To comply with the e-Privacy Directive we need to ask your consent to place these cookies on your computer.

Your use of this site indicates acceptance of these terms. I accept