Frontend technology has fast become the new frontier for banks seeking a competitive edge in their industry. Customers want better and quicker service, which is why banks and financial institutions are concentrating on fintech solutions to enable speedier service delivery. This topic frequently overlooks how game-changing it might be to focus on the organization's backend technological foundation. It has the potential to give a durable competitive advantage that gradually widens the gap between

After years of expense increases, many financial institutions seek methods to reduce or even eliminate their compliance budgets. According to the 2019 ABA Survey of Bank Compliance Officers Report, the average financial institution spends around 5% of its total budget on compliance. 

Nonetheless, compliance departments struggle to accomplish their mission given their present resources. According to a recent poll, two-thirds of compliance officers see a lack of time to handle regulatory complianc

Hi Global Risk Community member,

If your company is looking to go public, you know there are hurdles to overcome to meet the compliance requirements for financial reporting, business processes, and user access into your critical business systems.

Don’t wait to put the necessary controls in place.

The Sarbanes-Oxley Act requires CEOs and CFOs to be responsible for the integrity of the financial statements of the company.

Ernst and Young recently stated, “Companies that exceeded overall ma

Managing business continuity and information security is critical for risk management and compliance in an era of digital transformation. These two considerations are essential for businesses to remain current, stable, and healthy in the market, with an internal alignment consistent with best protection practices. 

These notions are similar and, as a result, may be misunderstood. In this regard, the objective is to understand what each one entails and how they interact. Additionally, to provide

While every business understands the critical nature of regulatory compliance, we frequently hear about compliance violations and massive fines levied by regulatory bodies. Enforcing regulatory compliance is a challenging task because it requires compliance from every stakeholder in the business process. The employee dealing with customers on the front line must be aware of the organization's compliance requirements, but they are only the first line of defense. Then it becomes their manager's re

Both risk and compliance management are dynamic fields that constantly evolve. Risk and compliance are impacted by a changing business environment, the economy, changing customer demands, and a company's vision, among other factors. Most of the changes we have observed in banking have been driven by information technology. The 2008 financial crisis was another significant force for change, as it forced the banking industry to rethink its risk management practices in light of the financial crisis

The FinTech revolution has allowed many new players to enter the market. Disruptive banks and open banking have become serious competition for traditional banks. These new banks and financial services applications have yet to build a reputation. But that also means that they are not notoriously unethical. Which is probably an advantage. 

Step 1: Make Integrity Your Core Value 

Banking is a business based on trust. And trust is based on the belief that a company conducts its business with integri

The changing environment and the dynamic transformation of financial sector entities towards digital and multi-channel banking, requires compliance management professionals and especially the Compliance Officer an academic p repair comprehensive and multidisciplinary to be able to respond and meet the demands of a world in constant transformation. The compliance function is more demanding every day due to state regulations ‘local and external’ and expectations of the Board of Directors, so it is

 How to Conduct an Ethics & Compliance Risk Assessment

An ethics and compliance risk assessment can help you understand where unethical or illegal conduct might occur within your organisation. This detailed 40-page guide offers a 12-step framework that will help you complete your own ethics and compliance risk assessment.
Armed with your findings and action plan, you will be equipped to develop and implement an effective ethics and compliance programme.