Date of Conferral

2018

Degree

Doctor of Business Administration (D.B.A.)

School

Management

Advisor

Roger Mayer

Abstract

Over $25 billion have been levied against banks annually in recent years for infractions and noncompliance with cross-border regulations. Huge costs affect banks' performance, and implementing working strategies that reduce significant costs is valuable. This single case study using systems theory was designed to explore strategies that bank leaders with correspondent banking relationships adapt to reduce costs from penalties and fines in cross-border remittances.Through the process of methodological triangulation, data collected from internal policy and procedural documents supplemented data collected from semistructured interviews. Yin's 5-step qualitative data analysis process of compiling, disassembling, reassembling, interpreting, and concluding was applied to collected data. Emergent themes included developing distinctive cost-reduction strategies, creating unique local bank strategies for an effective cross-border payment system, and using technology as a vital tool to reduce sanction costs. The study may support positive social change affecting individuals, communities, and society by increasing the success of cross-border payments through reduction in the costs of sanctions. Recipients of cross-border remittances benefit from the inflow of funds to cover basic needs such as medicines, education, and living expenses. Governments also benefit in terms of taxes and banks through commissions. The findings from this study may also assist society by supporting efforts to stop illicit international financial flows and combat the financing of terrorism.

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