A recent study shows that for every dollar lost to financial fraud, firms pay an average of $3.25. This hefty price of non-compliance along with the reputational and operational damages associated with it poses a serious threat to the BFSI industry that is still coping with the financial impact of the pandemic.
So, how do BFSI organizations survive and thrive in this period of shrinking budgets, sophisticated threats, rising geopolitical tensions, and increasing regulations? Experts suggest that the need of the hour is to calibrate an organization's overall compliance strategy with a holistic, systematic, risk-based approach besides creating a culture of compliance.
Compliance as a Service (CaaS) has emerged as a relief as its core objective lies in taking the added burden off enterprises and helping them maintain compliance requirements across a broad array of regulations and standards by defining, managing, optimizing the internal processes and governance framework.
This whitepaper explores the key aspects of Compliance as a Service for banking and finance while keeping an eye on the present and future of regulatory landscape, what to expect from CaaS offerings, how to choose the right CaaS partner, and more in order to help BFSI bodies navigate the challenging terrain of global compliance, build a fail-proof strategy, and more.
Compliance & RegTech in a Post-COVID Era
Cost of
non-complinace
How to Navigate the Compliance Landscape in 2021 and beyond
Compliance-as-a-Service: Benefits. Roles and Responsibilities