Data and analytics best practices for compliance management in financial institutions
Data-driven compliance management for Financial Services
According to the Competitive Enterprise Institute, the average cost to maintain compliance can total up to $10,000 per employee as reported by large firms. Compliance challenges like this are quintessentially data problems. Due to the need for a single source of truth (data) for reporting activity and the inability of legacy technology to do it at scale, what might be a straightforward reporting exercise often devolves into an operational nightmare.
This white paper explores key challenges that compliance teams in financial services organizations face today and how data can help overcome them. Download the whitepaper to learn about:
- Regulatory approaches and their implications
- The key challenges in regulatory compliance faced by financial services
- Best data-driven practices to address these challenges
- Case study on trade surveillance infrastructure to handle regulatory compliance