Tag: Compliance 2023

The Fintech Open Source Foundation (FINOS), a hub for open innovation in financial services, and Citi, a leading global bank, have partnered to launch a project focusing on open standards for cloud control in the financial services sector.

Clausematch has formed an alliance with RiskInk, a boutique risk management consultancy with unparalleled experience in policy drafting.

Sigma, recently ranked in the AIFinTech100 for 2023, is driving innovation with AI to offer robust and scalable risk management solutions. Their unique use of AI technologies makes the platform indispensable for current and prospective clients.

The global business head of DRYiCE iControl highlighted how firms can transform regulatory compliance and risk management.

The technological revolution is making the job of compliance officers increasingly intricate. From record-keeping to monitoring approved communication channels and adapting to the ever-changing world of social media advertising, the list of challenges seems endless. A burning question for many is the potential influence of large language models (LLMs) on their profession. Will LLMs simplify their tasks or add complexity?

In a recent post by Cognitive View, the company provided complaint insights to reduce claims disputes and compliance issues. 

Ascent, a solution aimed at simplifying and streamlining regulatory compliance, has entered into a strategic partnership with Diligent.

WealthTech is an ever-evolving landscape, with wealth managers perpetually innovating to adapt to client needs. It's absolutely vital for these financial gurus to stay ahead of trends and identify the crucial areas of focus to provide stellar service and maximise client outcomes. As we journey into 2023, let's delve into the top five priorities for wealth managers.

In the ongoing global efforts against money laundering, the task of comprehending customer identities has proven to be a crucial element in Know Your Customer (KYC) compliance for financial establishments over the years. However, the perpetual shift in regulations has augmented the expense and intricacy involved in acquiring and maintaining clients.

A new survey by Shield and LeapXpert underscores the continued risk financial institutions face from unmonitored communication channels. Only 51% of the financial institutions surveyed are currently monitoring employee communications on WhatsApp, a popular messaging platform.