BNY Mellon’s Daniel Verbruggen speaks to EMEA Finance on the value of local-global bank partnerships

A growth in regulatory requirements and in the cost of compliance, have had a massive impact on the traditional correspondent banking model, with many global banks now reconsidering their relationships with regional and local banks from a compliance, credit and operational risk perspective.

However in an interview with EMEA Finance, Daniel Verbruggen, managing director, head of relationship management Europe, treasury services, BNY Mellon, explains that “local-global partnerships are a powerful means for banks to share expertise and capabilities in order to provide the very best for end-clients, and generate mutual benefits for both parties.”

Indeed, a number of global banks are still looking to support under-served markets due to local banks’ expertise, as well as ability to navigate local market regulations.

The full article can be read here.

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