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.
Financial Institutions Blocked From Recommending Clients To Receivables Insurance Underwriters
Since 1992, Canadian financial institutions, regulated by the Canadian Bank Act, have had the ability to recommend and promote export receivables insurance to their commercial banking customers. Receivables insurance policies enable Canadian businesses to increase a customer’s borrowing base and credit limits as well as provide additional financial stability and sales growth potential. In Europe… Read More
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