New approaches, systems and processes ensure balance between compliance risk management and marketing performance.
The regulatory environment impacting bank marketing programs and practices continues to evolve, expand and intensify. At the same time, marketing teams are being looked to as the primary revenue engine at many banks. Consequently, bank marketing teams are shifting more of their time and resources toward digital channels and “performance marketing” programs to optimize both campaign performance and ROI.
These digital tools, including social media platforms, have become critical components in the marketing toolkit. However, this shift brings with it a heightened level of regulatory and compliance scrutiny and risk. As a result, there is a danger that compliance concerns may start to restrict the usage of these important tools and make it more difficult to create high impact marketing campaigns. In our view, this requires new approaches, systems and processes to ensure the appropriate balance between compliance risk management and marketing performance.
Read the full article on ABA Bank Marketing.
