Tag: regulatory compliance

Unlocking the potential for commercial success, dynamic financial crime risk assessments offer a multitude of benefits for financial institutions. Acuminor, a RegTech company explained...

In the high-speed and complex financial landscape we find ourselves in today, one of the most significant hurdles to overcome is the ever-present threat of financial crime. Acuminor has outlined how firms can leverage risk assessment processes to boost optimization, customer satisfaction and competitive advantage.

In a recent post by Alessa, the firm outlined the role of AML audits in enhancing regulatory compliance at companies. 

Ensuring compliance with CRS and FATCA can often feel like navigating a regulatory maze fraught with potential pitfalls, claimed MAPFinTech.

The implementation date of Consumer Duty is quickly approaching. Firms will need to be ready by 31st July 2023, but are firms going to be ready?

The Financial Conduct Authority (FCA) has disclosed its findings from a review of 14 fair value frameworks ahead of the Consumer Duty implementation in less than three months. RegTech platform Novatus Advisory has reviewed this and outlined the key takeaways for firms. 

The evolving financial landscape calls for a more efficient approach towards regulatory compliance. Amid increasing regulatory burdens and the dynamic nature of regulations, the focus on compliance has heightened, thus fuelling the growth of the regulatory compliance industry. Despite this, the lack of standardised terminology around common concepts, such as "regulatory mapping", remains a key concern.

A study by LexisNexis Risk Solutions has found anti-money laundering (AML) compliance is costing UK financial institutions £28.7bn and will raise to £30bn by 2023.

UK RegTech firm SteelEye has launched a suite of communication compliance tools to help financial companies access record-keeping and oversight tools.

Estonian identity verification firm Veriff has launched its new Anti Money Laundering (AML) compliance to aid companies in complying with AML regulations.