Mais informações

Relatórios de analistas

Blog

Brochures

Checklist

Casos de sucesso

Datasheets

Aprender

eBooks

Infografias

Notícias

White Paper

Contacto

Seminários on-line

Eventos

Comércio autónomo

ESG

Sobre nós

Plataforma JAGGAER One

Carreiras

Conformidade e Segurança

Casos de sucesso

Support

Partner Marketplace

Torne-se um parceiro

Por indústria

Educação

Fabricação

Energia y Utilidades

Serviços Financeiros

Cuidados de saúde

Ciências da Vida e Farmacêutica

Por indústria

Retalho

CPG

Setor público

Transporte e Logística

Por função

Compras

Finanças

Tecnologia da Informação

Cadeia de fornecimento

Por necessidade

IA em compras

Redução de custos

Aquisição Direta

ESG

Integração com outros sistemas empresariais

Rentabilidade das compras

Otimização de fornecimento

Visibilidade das despesas

Cumprimento dos fornecedores

Aprender

Informes de analistas

Blog

Brochures

Checklist

Casos de éxito

Datasheets

Aprender

eBooks

Infografías

Noticias

White Paper

Contacto

Webinars

Eventos

Comercio Autónomo

ESG

Acerca de

Plataforma JAGGAER One

Carreras

Cumplimiento y seguridad

Historias de éxito

Soporte

Partner Marketplace

Conviértete en partner

Por industria

Educación

Manufacturing

Energía y Utilities

Servicios financieros

Sanidad

Farmacéutico y Ciencias de la vida

Por industria

Retail

Bienes de consumo envasados

Sector Público

Transporte y Logística

Por función

Compras

Finanzas

Tecnologías de la información

Cadena de suministro

Por necesidad

IA en compras

Reducción de costes

Compras directas

Criterios ESG

Integración con otros sistemas empresariales

Rentabilidad de compras

Optimización de compras

Visibilidad del gasto

Compliance de Proveedores

Scopri di più

Analyst Reports

Blog

Brochure

Checklists

I nostri clienti. Storie di successo

Datasheets

Imparare

eBooks

Infographics

News

White Paper

Contattaci

Webinar

Eventi

Autonomous Commerce

ESG

Chi siamo

La piattaforma JAGGAER One

Lavora con noi

Compliance & Security

Storie di successo

Servizio Clienti

Partner Marketplace

Diventa Partner

Per settore

Education

Manufacturing

Energy and Utilities

Financial Services

Healthcare

Life Sciences and Pharmaceuticals

Per settore

Retail

Consumer Packaged Goods (CPG)

Settore pubblico e regolamentato

Trasporti e logistica

Per funzione

Procurement

Finance

IT

Supply Chain

Per necessità

AI nel Procurement

Riduzione dei costi

Direct Procurement

Obiettivi ESG

Integrazione nell'ecosistema aziendale

Procurement Profitability

Sourcing Optimization

Spend Visibility

Supplier Compliance

Success stories

Service client

Erfolgsgeschichten

Kundensupport

Lernen

Analyst Reports

Blog

Broschüren

Checklisten

Kundenerfolgsgeschichten

Datenblätter

Lernen

E-Books

Infografiken

Nachricht

Whitepaper

Verbinden

Webinare

Veranstaltungen

Autonomous Commerce

ESG

Über uns

Die Platform

Karriere

Compliance und Sicherheit

Partner Marketplace

Partner werden

Nach Branche

Bildungswesen

Fertigende Unternehmen

Energie und Versorgung

Finanzdienstleistungen

Gesundheitspflege

Biowissenschaften und Pharmazeutik

Nach Branche

Einzelhandel

Consumer Packaged Goods (CPG)

Öffentlicher Sektor

Transport und Logistik

Nach Rolle

Beschaffung

Finanzen

Informationstechnologie

Lieferkette

Nach Bedarf

KI im Einkauf

Kostenreduzierung

Direkter Einkauf

ESG-Ziel

Integration in die Geschäftssystemlandschaft

Beschaffungsrentabilität

Beschaffungsoptimierung

Ausgabentransparenz

Lieferanten-Compliance

Marketplace des partenaires

Devenir un partenaire

Ressources utiles

Rapports d'analystes

Blog

Brochures

Checklist

Témoignages de nos clients

Datasheets

Learn

eBooks

Infographies

Actualités

Livres blancs

Nous rencontrer

Webinaires

Événements

Commerce autonome

ESG

À propos

La plateforme

Emplois

Conformité et sécurité

Par industrie

Éducation

Fabrication

Énergie et Utilities

Services financiers

Santé

Sciences de la vie et produits pharmaceutiques

Par industrie

Retail

Consumer Packaged Goods (CPG)

Secteur public

Transport et logistique

Par département

Achats

Finance

Informatique

Supply Chain

Par besoin

L'IA dans les achats

Réduction des coûts

Achats directs

Objectif ESG

Intégration dans le paysage des systèmes d'entreprise

Rentabilité des achats

Optimisation du Sourcing

Visibilité des dépenses

Conformité des fournisseurs

Learn

Analyst Reports

Blog

Brochures

Checklists

Customer Success Stories

Datasheets

Learn

eBooks

Infographics

News

White Paper

Connect

Webinars

Events

About

ESG

Autonomous Commerce

JAGGAER One Platform

Careers

Compliance & Security

Success Stories

Customer Support

Partner Marketplace

Become a Partner

By Industry

Education

Manufacturing

Energy and Utilities

Financial Services

Healthcare

Life Sciences and Pharmaceuticals

By Industry

Retail

Consumer Packaged Goods

Public Sector

Transportation and Logistics

By Role

Procurement

Finance

IT

Supply Chain

By Need

AI in Procurement

Cost Reduction

Direct Procurement

ESG Goal

Integration into Business System Landscape

Procurement Profitability

Sourcing Optimization

Spend Visibility

Supplier Compliance

Blog

How Banks Can Improve Transparency in Procurement for Better Compliance

Banking is a unique industry in many respects. It’s one of the most profitable, but also one of the most competitive. Procurement in Banking also faces unique challenges due to the tough regulatory compliance environment that sets limits on how Banks can achieve goals like cutting costs.

But there’s another aspect, often overlooked, that sets the banking industry apart. A bank’s suppliers are, in most cases, also its customers. And this provides enormous scope for conflicts of interest for individual employees, for departments, and for the bank as a whole.

Let’s say, for example, a supplier of facility management fails to meet its contractual obligations, causing the bank to make substantial losses. The bank’s Chief Procurement Officer may want to change vendor. He is likely to come under pressure to do so. But if (as is likely) the vendor is also a customer, for example one that recently received finance for a new warehouse, the Chief Operating Officer and customer relationship managers may have other ideas.

There is also, of course, plenty of scope for bribery and corruption.

Procurement’s Role in the Banking Industry

Since the financial crash of 2008, procurement has taken on an increasingly important role in the sector for another reason: strategic suppliers all present various kinds of risk to the bank. These include operational risk, should they fail to perform as expected, and credit risk should they encounter financial difficulties, such as default on loans. To address such risks, the Bank Recovery and Resolution Directive (BRRD), which gives central banks the power to intervene if a failing bank poses a public risk, is being adopted into national law of European Union member states.

Procurement teams, therefore, have a vital role to play. They will need to be able to work in close collaboration with internal and external auditors as well as the compliance and risk teams. To do this effectively, Procurement will need to take steps to ensure governance and transparency within their organizations, and in Banking, this is often easier said than done.

How Choosing the Right Spend Management Solution Can Help

Mature spend management solutions can help Procurement overcome these challenges in a number of ways. The JAGGAER ONE platform  provides banks and other financial services organizations with the robust tools they need to gain visibility into supplier operations and risk, helping to build a true picture of what is really going on in the supply chain. Integrating with any ERP, risk management, regulatory compliance or other software, JAGGAER ONE allows procurement to work with other stakeholders within a bank to collate and centralize supplier and contractual information across the enterprise and share insights with senior leadership.

It also provides a platform which suppliers can work with to upload and update information such as certifications, financial disclosures, remittance and contract details, products, services and other information required to calculate risk factors.

Should things go wrong, such as failure to comply with a contract, the information is there for evidence-based decisions and discussions with suppliers.

Absolutely key to this transparency is having all of the information available in one place, all the way from procure to pay. Many of the world’s leading banks and financial services companies rely on JAGGAER ONE technology to ensure:

  • Tracked and rigorous procurement processes
  • Strongly guided purchasing processes
  • Effective management of suppliers’ qualification and segmentation to ensure compliance with European Banking Authority regulations
  • Easy integration with all systems that act as information providers
  • Easy and fast extension of the solution to new branches or divisions, in a sector segment characterized by frequent mergers and acquisitions

 

Additional Resources

Maturity Assessment

Take this quick Autonomous Commerce Maturity Assessment now to identify your maturity stage and the next steps to take in your journey.