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Tag Archives: Compliance

The importance of new and innovative compliance solutions

With financial ecosystems constantly evolving and consumer expectations ever-growing, innovative approaches to compliance are more urgent than ever before. Thankfully, a variety of new technologies are coming online to help financial institutions improve compliance processes while simultaneously reducing costs, including process automation improvements, new data management tools, artificial intelligence and …

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RegTech: the new lifeblood of compliance?

With increasing scrutiny (and fines) from regulators, there has never been a better time to look at the promises of RegTech. In fact, there are 3 main ways RegTech can improve the financial services industry as whole: RegTech can help financial institutions avoid fines and censures. Regulators around the globe …

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FinTech, RegTech and the Role of Compliance Report 2020 released

In this video, Susannah Hammond, senior regulatory intelligence expert at Thomson Reuters, discusses the recently-released FinTech, RegTech and the Role of Compliance Report 2020. The Report highlights the benefits FinTech and RegTech solutions, including increased operational efficiencies and effectiveness, improved consumer services and enhanced business opportunities. The key findings of …

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7 key digital trends driving compliance and risk management

Financial institutions, under increasing regulatory pressure, are tapping into a wide range of digital technologies to drive compliance innovation. Here are 7 key ones making an impact in the world today: Robotic process automation streamlines compliance processes and provides for the rapid integration of front- and back-end systems that track …

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Creating a centralized blockchain platform for compliance

Blockchain technology has been a polarizing technology, but many are now coming to understand how it can be used to improve the know-your-customer (KYC) and anti-money laundering (AML) efforts of financial institutions. Specifically, blockchain technology offers the potential to solve existing inefficiencies, particularly those related to data asymmetries between financial …

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Natural language processing for compliance

With an increased focus from regulators and financial institutions on compliance, artificial intelligence (AI)-based solutions are being increasingly examined for their potential. One of the more interesting solutions is the application of natural language processing, which is capable of combining the results of surveillance and conversation monitoring to produce suspicious …

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e-KYC can solve compliance-related challenges

For most financial institutions, the core of what takes onboarding so long is the collection, validation and processing of consumer data and documentation as part of an effort to ensure they conform to know-your-customer (KYC) regulations. This makes for an unnecessarily-long onboarding process, delayed time-to-revenue and high abandonment rates. To …

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The switch to AI and machine learning KYC and AML compliance

With increasing pressure from regulators regarding know-your-customer (KYC) principles and anti-money laundering (AML), many financial institutions are now turning to artificial intelligence (AI)- and machine learning-based solutions to automate and speed up these processes. Although most financial institutions have some automated processes in place, they are typically only rule-based and …

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7 key compliance trends for Kazakhstan in 2020

Compliance is continuing to evolve in Kazakhstan, and our friends at banker.kz have outlined 7 key compliance trends for the country in 2020: Compliance risk management and internal control systems will be reviewed. The National Bank of the Republic of Kazakhstan passed revised risk management system and internal control requirements …

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Technology’s influence on compliance

Compliance was once viewed solely as a tool to ensure regulatory compliance, but it has quickly become an integral element of corporate culture. Much of this change in perspective is due to the advent of new technological solutions. For example, compliance was once a largely manual process that could take …

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Moscow to host compliance conference in May

Dialogue Management Partners is hosting the third annual Compliance, Internal Control and Audit in Financial Institutions conference in Moscow in late May 2020. The conference will feature a number of banking experts discussing practical experiences and the latest solutions in compliance from around the world. Find out more here Sberbank joins …

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Bank of Russia approves RegTech and SupTech roadmap

The Bank of Russia has approved a RegTech and SupTech roadmap to ensure effective and high-tech regulation and supervision in the country. The roadmap was designed to: determine the goals and objectives of SupTech, outline key activities to achieve them, identify the main areas of activity on the side of …

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Video: real-time compliance for a connected world

With more and more business taking place across borders, cross-border payments are becoming increasingly important. As these payments speed up and move toward real-time, compliance teams need to be able to ensure that they are still able to effectively manage and monitor risk. Here are 5 steps to achieving real-time, …

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