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Tag: enterprise and compliance risks

Compliance Challenges 2020

Tackling Compliance Challenges 2020 with Automation and AI

Compliance departments are usually the first to face cost reduction, and yet the first to be blamed for to be targeted in case of an enterprise risk. They suffer from overwork, which ultimately leads to employee attrition. There is an urgent need for regulatory remediation and compliance challenges 2020 so

compliance management system

The Need to Move to a Proactive Compliance Management System

Most organisations view compliance procedures as a ‘necessary evil’, something that they do just to stay in business. Their approach is usually reactive, rather than proactive. Bigger organisations, ones that use a lot of data understand the importance of compliance audits and learn how to gain competitive advantage and mitigate

Compliance Management System

It is Time to Digitize Your Compliance Management System

In the current industry climate, the growing compliance costs are steadily becoming unsustainable. Companies that focus on the digital transformation of their compliance assessment features can realize its benefits almost instantaneously. With the advancements in modern technological approaches, it is important to let go of old traditional ways if they

Compliance Challenges

Compliance Challenges Witnessed During COVID-19

The corona virus pandemic has led to a general chaos in 2020 and has exposed companies to many unprecedented compliance challenges across every sector and industry. Keeping up with the digital way of working, trying to keep their employees and assets safe, and ensuring that access to capital remains uninterrupted,

Transaction Monitoring System

Transaction Monitoring System: What is it and What is its Importance

Transaction monitoring system is a vital part of anti-money laundering (AML) processes, especially with the rise of technological advancements and the resultant increase in cybercrimes. All banking institutions such as banks have some sort of transaction monitoring and AML systems in place to keep an eye on suspicious activities and

Governance Risk and Compliance Solutions

Why You Should Pay Attention to Governance Risk and Compliance Solutions

Governance Risk and Compliance Solutions (GRC) is an important of business strategizing and needs careful consideration. All industries, big or small, face issues of enterprise risk management (ERM), regulatory compliance and corporate governance. Why Pay Attention to Governance Risk and Compliance Solutions The ethical management of the company, assuring that

KYC Software

Enhanced Customer Due Diligence through KYC Software

Customer Due Diligence (CDD) is the process through which information about a customer that an organization assesses to figure out the range of risk the customer can expose the institution to. These risks could include things like money laundering, fraud, or terror financing. There are thus a lot of reasons