July 17th, 2018

How to Turn Compliance Into a Competitive Advantage

Posted at 1:00 AM ET

subas-roy-headshot-cropped2michael-heaney-cropped2hanjo-seibert-profile2Subas Roy, Partner; Michael Heaney, Principal; and Hanjo Seibert, Principal,  Oliver Wyman


Regulatory technology, or regtech, has emerged as a cost-effective solution to help banks deal with the numerous and burdensome tasks required for compliance with regulations. Regtech also helps banks improve their bottom line by enabling them to more effectively manage risks and execute strategies that bring profitable growth.

As regulators continue to increase compliance requirements, investment in regtech continues to grow.  This creates the opportunity for financial institutions to integrate the compliance processes into their business systems.

Regtech can help banks utilize the data and analysis required to identify potential money launderers and fraudsters to also identify customers who are likely to default on loans. The technology can also help a bank understand where macro risks are emerging.

But this progress won’t just happen. Bringing about this transformation and realizing the benefits that regtech offers will require banks to change their people strategies, augmenting current competencies with the new skills in data and advanced analytics.

Click here to read the entire article as published on BRINK >>

Click here to register to receive e-mail updates >>

AddThis Feed Button
Bookmark and Share

Related Posts