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Will compliance be automated?
Compliance automation streamlines operations, reduces errors, and improves efficiency. Financial institutions use AI to automate tasks like monitoring, risk assessment, and reporting. Human judgment remains vital, focusing on strategic decisions as automation handles repetitive tasks
How AI will enhance GRC Software solutions?
AI revolutionizes GRC software by automating data collection from diverse sources, enabling continuous monitoring and updates. It converts data into actionable intelligence, providing insights into risks and compliance.
What are the Capital Requirements Regulation Amendments?
EU's CRR amendments strengthen banking sector resilience and financial stability. Updates to CRD and CRR introduce stricter capital and liquidity requirements, enhanced risk management, and measures to reduce bank failures. Expected full implementation by 2023 for more robust EU financial system.
What is the Open Finance Framework and how it will help Compliance?
The EU's Open Finance Framework facilitates financial data sharing, adhering to data protection rules. It empowers customers as data owners, promoting transparency and regulation compliance, fostering market competitiveness, and bolstering consumer rights.
IFR/IFD compliance: how financial services can achieve it?
The 2019-introduced IFR/IFD sets new requirements for financial firms. Firms must identify compliance gaps, adjust governance and reporting, and create a thorough plan with staff training, tech upgrades, and ongoing checks to meet the 2023 deadline.
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