Financial Services

We focus on the future of financial services, helping clients shape their businesses and execute strategies.

Accelerating growth, mastering complex issues

In a market that is changing at lightning speed, you need to be nimble to stay ahead. Our breadth of services is designed to accelerate the speed and agility of your business. Working with PwC, you can tap into the innovative approaches, applied technology and operational intelligence you need to not only move confidently ahead, but also achieve sustained advantage. Find out how we can help you.

How we can help

Meeting your needs

Our financial services industry group is a distinctive and multi-disciplinary practice that provides audit, technical accounting, tax, regulatory, compliance, risk management, outsourcing, securities processing, payments, information risk and security, data quality, mergers and acquisitions, and other services. Our integrated knowledge enables us to help clients design solutions that work.

Here are a few of the services we can help you with.

Strengthen trust and transparency

In a fast changing, technology-driven world, building and maintaining trust has never been more important or challenging. Providing trust over financial reporting is a big responsibility, and it lies at the heart of everything we do. Our audit approach, which is at the leading edge of best practice, draws upon our extensive industry knowledge and empowered by marketing-leading technologies, is tailored to suit the size and nature of your business. We can help you deliver a clear path to value through improved transparency with stakeholders, confidently protecting and reporting on information for your business.

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Maximise opportunities whilst managing risk

Risk has greater, more far-reaching impact today than ever before. So managing risk across lines of business and across customers is central to every financial institution’s operating model. We can help you identify and assess areas of increased business, operational and compliance risk, and also help you develop risk management approaches and operating models to identify, deter and mitigate risks, as well as generate tangible business value through risk-based decision making.

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Navigate regulatory complexity

The current regulatory environment has financial institutions grappling with a growing number of requirements and expectations from regulators, investors and end customers. With this increasing regulatory burden across different jurisdictions, financial institutions need a strategic approach to put in place new controls, processes and governance structures to ensure compliance with existing, new and expected regulatory requirements. We can help you understand complex compliance requirements and design, construct and implement sustainable, cost-effective compliance solutions.

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Get accounting advice

Companies face severe challenges in dealing with the increasing complexity of accounting guidance. Coupled with stricter regulatory scrutiny and enforcement, this has led to heightened sensitivity on the accounting practices of companies. We can play an important role in supplementing your company’s finance function and provide advice to queries related to generally accepted accounting principles in US (US GAAP), International Financial Reporting Standards (IFRS) and Singapore Financial Reporting Standards (SFRS).

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Embrace digital transformation

Transformation is an opportunity for a business to reinvent and thrive, ahead of the unexpected and the inevitable challenges it faces. It is at the core of many customer service, productivity, innovation, risk management and cost reduction initiatives. Financial institutions need to align their digital and technology strategies and investments to new trends and effectively build their businesses and technology to disrupt the disruptors. We can help you create integrated, end-to-end digital solutions you need to compete and grow. Together, we can build a lasting legacy of improvement and performance.

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On your agenda

We also look at the road ahead, identifying what at the most important issues facing financial services firms today and tomorrow. We put them in perspective, look at the current landscape, share our view on what will likely come next, and offer our thoughts on how you can continue to deliver value to your business.

Here are some of the key shifts reshaping the industry where we can work with you to turn the situation to your advantage.

FinTech and Payments

The convergence of financial services and technology industries has created an age of uncertainty like never seen before. With innovations such as peer-to-peer payment technology and blockchain consistently disrupting infrastructure, operations and business models, FinTech is changing the financial services industry from the outside in. Payments, in particular, will continue to dial up a storm in the financial services industry. We can help you anticipate and understand the emerging technology and disruption competitive landscape, analyse the impact and opportunities on business and integrate innovations into your business.

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Financial Crime

Preventing and detecting financial crime is rapidly becoming one of the greatest challenges for financial institutions – impacting not just monetary losses, but reputation, brand, culture, relationships, and regulatory censure. We help you build confidence in dealing with fast and evolving financial crime threats. We provide solutions tailored to your needs ranging from technology/software solutions, end-to-end outsourcing and provision of specialist resources, health checks to meet regulators expectations, design of policies and procedures/systems and processes to mitigate risks, support in remediation and recovery of regulatory and fraud related matters.

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Cybersecurity

As businesses today are increasingly interconnected and dependent on digital business processes, cybersecurity is now a persistent business risk. It is no longer an issue that concerns only information technology; the financial, operational and reputational impacts have made this a C-suite and boardroom priority. We can help you shape a broader strategic response to cyber risk by helping you understand your current capability and putting in place a focused plan to target investment in the right places. To do this, we will focus on six key areas: risk, connections, people, technology, crisis and priorities.

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Data and Analytics

Optimise your data assets and capitalise on the untapped business intelligence you already own. Smart companies are adopting new approaches to turning data insights into tangible results. From strategy to execution to results, we deliver ‘intelligence in the moment’. We can help you make your decision-making capabilities faster and more sophisticated, using different approaches that scale to meet your needs, including executive workshops, strategy and innovation pilots, proprietary benchmarks, advanced analytics, analytics apps with data visualisation, and advisory engagements. We can work with you to strike the right balance between mind and machine to leverage data, understand risk, and gain a competitive edge.

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Contact us

Sam Kok Weng

Financial Services Leader, PwC Singapore

Tel: +65 6236 3268

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