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Israeli banks are operating in a challenging business environment which includes a gradual economic slowdown, significant increase of regulation and capital requirements as well as low interest levels. The banks need to prepare themselves to operate under new circumstances brought about by the new business environment.
The banks are required to modify their strategic plans and to plan their growth engines subject to several factors: the economic developments, the capital requirements, effective and meticulous risk management, and reduction of costs and increase of investments in technological developments.
As mentioned above, it is expected that regulation in the sector shall increase. The banks will be required to identify the significant potential risks and examine whether these risks are monitored in an effective and professional manner.
PwC's multidisciplinary team which provides services to the banking sector includes highly experienced and knowledgeable experts in the fields of regulation, risk management, corporate governance and business continuity. These experts shall be delighted to assist you to face complex challenges which have long-term effects.
PwC Israel is a member firm of PricewaterhouseCoopers International Limited, which is one of the four largest international accountancy and professional services firms (The Big Four). PwC is the leading global provider of audit and consultation services to banks and financial institutions; it provides services to the largest banks and financial institutions in the world. PwC Israel has the unqualified support of the PwC International Limited; we cooperate with the global firm in various financial sector projects.
The US Foreign Account Tax Compliance Act (FATCA) requires financial institutions to use enhanced
due diligence procedures to identify US persons and corporations who have invested in either non-US
financial accounts or non-US entities.