Compliance as a Service For Cloud Banking and Finance
According to a recent survey, companies spend an average of $3.25 for each dollar lost to financial crime. The BFSI sector, which is still grappling with the financial effects of the pandemic, faces a grave danger from the high cost of non-compliance, as well as the reputational and operational problems connected with it.
How can BFSI firms survive and grow in this era of diminishing resources, sophisticated attacks, escalating geopolitical tensions, and expanding regulations? In addition to fostering a culture of compliance, experts recommend adjusting an organization’s entire compliance strategy with a comprehensive, methodical, risk-based approach.
Compliance as a Service (CaaS) has emerged as a relief, as its primary objective is to alleviate the burden on enterprises by defining, managing, and optimising the internal processes and governance framework in order to maintain compliance requirements across a wide range of regulations and standards.
This whitepaper examines the key aspects of Compliance as a Service for banking and finance while keeping an eye on the present and future regulatory landscape, what to expect from CaaS offerings, how to choose the right CaaS partner, and more to help BFSI bodies navigate the challenging terrain of global compliance, build a failsafe strategy, and more.
Key Takeaways
Emphasizing Your Key Learnings
Compliance & RegTech in a Post-COVID Era
Cost of non-complinace
How to navigate the landscape of compliance in 2021 and beyond
Compliance-as-a-Service: Advantages, Responsibilities, and Roles