Compliance Innovation Support
Technological innovation constantly evolves and offers new types of products and services, also opening the potential for compliance programs to develop, ease and improve the efficiency of your institution. Just to stay on the same place and to keep the same level of controls, you have to run continuously.
- Do you have the necessary monitoring procedures and controls to maximize the limitation of all manual interventions?
- How do you maximize the use of your current tools, for efficiency and effectiveness, how do you ensure on-going parametrization and tuning?
- Is your institution benefiting from the newest digital technology innovations, such as digital artificial intelligence (AI), machine learning and robotics?
- Is your AI system trustworthy and ethical?
But keeping up-to-date your current tools or implementing new tools may be a lengthy and heavy process where all the safety and policy requirements shall be in place. Furthermore, the incorrectly implemented systems can cause important risks, therefore a structured approach shall be applied.
The innovation and technologies may drastically reduce the workflow especially in the following areas:
– Data Storage
– Case and Workflow management
– Reporting and Statistics
– Project Management
– Reporting
– KYC / CDD review
– Transactions Monitoring
and other processes.
