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6 Reasons Financial Institutions Are Embracing Risk and Regulation Tactics

Perficient

In the fast-paced realm of finance, the significance of regulatory risk and compliance management practices cannot be overstated. The Role of Regulatory Risk and Compliance 1. Legal Obligations and Regulatory Frameworks It is well-known that financial institutions operate within a complex web of laws and regulations.

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Turning Compliance Burden Into FinTech-Regulator Collaboration

PYMNTS

Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. Particularly amid the continuing uncertainty surrounding Brexit, FinTechs are turning to Lithuania to retain their European footholds and operate in a country that supports their innovative ambitions. Resuming Operations.

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NYSDFS Part 500 Cyber Amendments Finalized: What You Need to Know

Perficient

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

New York 221
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DFS500 Amendments: What You Need to Know

Perficient

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

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Key Components of a Strong Sanctions Compliance Program

Abrigo

Create an effective sanctions program Considering the current economic and political environment, it is crucial that financial institutions maintain a strong sanctions compliance program (SCP). Takeaway 1 OFAC has issued new guidance on the essential components of a strong compliance program. learn more.

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How Process Mining Accelerates Efficiency for Highly Regulated, Customer-obsessed Industries

Perficient

In the dynamic environment of highly regulated industries like healthcare and financial services, leaders often balance competing goals to delight customers while cutting costs. Diagnosing and Correcting Process Failures Despite the billions spent yearly to digitize processes, companies often are not operating at their maximum potential.

Industry 221
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DevSecOps Best Practices ? Automated Compliance

Perficient

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. As a best-practice it is recommended to adopt automation of certain security audits, integration of compliance oversight into key development process areas (e.g. Operational Security.