Cost of Compliance in Uncertain Times
Compliance has been on the edge of innovation for banks and financial service providers with instant growing technologies; due to increase in global financial risk. Industry leader banks and financial institutions are making smart partnerships with technology providers to broaden the resiliency of their compliance infrastructure. According to the research study in 2019 by Thomson Reuters Regulatory Intelligence, results promise more efficiency and secured automation for financial institutions with some costly challenges in return. The financial ecosystem will converge in ten years with more stringent and cost-effective compliance technologies as inclusion of RegTechs strikes in the financial eco-system.