MyComplianceOffice Blog

Digital transformation is a trend term that we hear a lot among businesses. However, this so-called transformation hasn’t arrived yet in most of the compliance departments. Organizations are implementing digital transformation in other areas, but why not in compliance departments.

Regulatory Compliance is a challenge for financial services and to nail the compliance solution you use is crucial. It is the responsibility of the compliance department to make sure rules and policy are in place to protect the company reputation.

Doesn’t matter the size of your organization or compliance department. Only the best compliance strategy will suffice, if you have a good compliance program but a weak compliance software provider that doesn’t listen to your priorities, migrating to another option is pivotal.

Compliance migration isn't an issue that should be taken lightly, though, which is why you need to plot the progress in style.

Perhaps you already have a compliance solution or perhaps you still trusting on excel spreadsheet and manual process to keep your employees compliant and avoid regulations fines. For sure, if you still using manual process and fully trusting your excel spreadsheet you are in danger. You should be looking for a more modern compliance solution that can help to reduce your stress and workload.

As in-house tech solutions within the finance industry continue to run at an increased loss, experts have predicted a seismic shift across the FinTech sector over the coming months as banks are expected to increase their reliance on external software solutions in a bid to reduce tech spend.