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BANKING, FINANCE & INSURANCE

The quick changing financial world

Financial industries and change go together. The sustained evolution of global finance and insurance has brought about new financial instruments together with revolution in technology. Electronic commerce has taken the place of traditional operations. Customer communications and transactions, for online banking, taking out insurance, and more, can now be conducted via the internet, using web-based portals. Globalization has opened up new markets with customers from a variety of cultures and increased cross-border activities. At the same time, there are calls for greater scrutiny and regulation of the market. And this means that companies also have to adapt to new policies.

Competing in a global market is becoming ever more complex

To remain competitive, finance and insurance companies strive to achieve profitable growth, improved service, and customer retention. And they are working towards more efficient systems. They have to tackle numerous issues in the process:

Pressure to keep pace with technology: taking advantage of new technological opportunities is the only way to meet customer expectations and compete with rivals. You need efficient global management to successfully share transactional tools and databases worldwide.

Meeting increased reporting requirements: national central banks and international organisms such as the Joint Forum, the Basel Committee on Banking Supervision (BCBS), and the International Association of Insurance Supervisors (IAIS) require increasing quantities of multilingual documentation. You have to show compliance with new regulations, directives, and international standards.

Meeting the multicultural needs of global customers: communicating through affiliates, subsidiaries, and partner agencies around the world involves more than speaking many languages. Internal management systems and web-based customer interactions have to be localized in a number of languages. Adapted marketing and service information has to reflect local cultures and societal views.

CPSL: a language partner to jack up your forecasts
CPSL has a lot to contribute to your global competitiveness. We have proven industry experience. And it has been gained through years of serving leading banks, financial service companies, independent accounting boards, and insurance companies. We have also provided service to our many international clients from different sectors for their internal financial and insurance departments.

Find out more. The CPSL team is here to help you.

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