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Compliance: Data Management is the Key Technology for Managing Risks and Compliance
Compliance. It’s not easy, doesn’t receive adequate focus, and can be costly. A recent survey by IPC found that compliance costs are going up. 80 percent of businesses say that their spending on compliance increased by 20 percent this year.…
Compliance: Better Use of Technology is Needed to Check the Rising Costs
Compliance has its benefits, but it’s expensive. A recent study by Accenture found that 23 percent of financial institutions are spending more than 5 percent of their net income on compliance. The Accenture report also found that: 89 percent of…
Compliance and Analytics: Businesses Need to Embrace and Support Analytics by Investing in Technology and Training
Even as businesses increasingly use data and analytics (D&A) within their organizations, a majority of executives at those same companies distrust the findings, according to a study by KPMG. 48 percent use D&A for finding new customers and 47 percent…
Data Governance: Strategically Managing Risk and Complying with Regulations and Deadlines
Data governance is the process of quality control for data. Governance ensures that data that was entered and collected meets specific standards, integrity constraints, and the rules and regulations to which the organization is bound. It is estimated that the…
Compliance and RegTech: Using Technology to Comply with Regulatory Requirements
What is Regtech? Regtech is the application of technology to assist companies in complying with regulatory requirements. It helps companies prove compliance, save money and become more nimble in their operations. Todd Moyer, executive vice president at Confluence, said that “a year…