Regulatory Compliance in Financial Services
The Financial Services industry faces unprecedented regulatory challenges in the coming years. Many financial services institutions are struggling to improve their ability to respond to regulatory compliance as they seek to recover lost income from traditional revenue streams. While focusing on the rising demand for customer-centric services, Financial Services entities must respond to regulatory scrutiny, provide accurate reporting on risk exposure, as well as standardize and automate compliance processes. Ultimately, increasing organizational flexibility will aid financial institutions in responding to these changing regulatory requirements and decrease compliance risk associated with payment and transaction services.
Regulatory compliance requires accurate reporting around risk exposure and capital management. Organizations need solutions that:
- Enable financial institutions to measure and manage financial risk, liquidity exposure and compliance to regulations.
- Address restructured payment operations that comply with regulations and improve reporting and risk transparency around liquidity and embargo checks.
- Utilize automated compliance monitoring processes and systems to provide visibility into the impact of risks on strategic goals as well as compliance controls for application integrity and security.
- Provide compliance information lifecycle management, corporate governance and internal control.
- Prevent, monitor, and investigate fraud due to the lack of timely, actionable intelligence for enterprise-level management