The banking industry is not only one of the cornerstones of the global economy, it is firmly entrenched in nearly every aspect of our professional and personal lives. The financial transactions that constitute banking have been around for hundreds of years, contributing to the somewhat lackluster reputation of the industry. In recent years, however, deregulation and technological developments have brought notable changes that will help banks meet 21st century challenges in variable economic times. As other types of companies enter the financial services business, banks have also improved and expanded their suite of products and solutions to maintain their market share. The role of government, more prominent in banking than perhaps any other type of business, will continue to be critical in shaping the industry’s future.
WITH BANKS EVER MORE JITTERY, SEEK THOSE WITH INTERNATIONAL TRADE EXPERIENCE
Banks today find themselves in a rigorous regulatory environment. Financial institutions worldwide have regulators breathing down their necks, making sure they are not in violation of anti-money laundering legislation and sanctions regimes. The ultimate aims of these compliance programs are laudatory, but they have also adversely affected global banking and the practice of trade finance… Read More
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