Tag: RegTech

The rapid influx of regulatory documents and enforcement actions has swamped compliance teams; regtech software like ING’s can restore efficiency.  ING just spun out and sold its regulatory change-monitoring tool, SparQ, to risk intelligence firm Corlytics.   SparQ’s software helps identify new regulations or threats, construct robust controls around monitoring and oversight, and ensure appropriate policies […]

Recent news highlights why financial institutions need to revamp their compliance culture to be real-time and continuous – or face the consequences.   Fraud protection is already hijacking headlines in 2023:  Both PNC and JPMorgan are facing lawsuits that blame them for their customers’ fraud losses through insider threats or phished credentials, while Coinbase agreed to […]

As financial regulators increase their scrutiny (and fines), regtech tools can help firms keep themselves compliant at a lower cost. As US regulators hammer the likes of JPMorgan, Citigroup, and Bank of America with a combined $1 billion in fines for failing to properly monitor all employee messaging, comprehensive communications-surveillance tools are in high demand. […]

As swamped compliance teams struggle to keep up with the rapid influx of regulatory documents and enforcement actions, AI-powered software that scans, synthesizes, and provides recommendations can improve productivity and reduce errors.  Compliance.ai monitors sources of new regulation, uses machine learning to highlight the changes that are relevant to a given financial institution, and automatically routes […]

Software that tracks governance risk in real-time can both improve executive decision making and reduce audit failures, which in turn cuts down on reputational damage and fines.  A Fortune 500 financial institution recently refreshed its governance process: In a matter of weeks, it went from manually managing its compliance program in Word Docs and Excel […]