Managing the cost and complexity of financial compliance
Financial institutions in India are dealing with a complex set of compliance challenges that include regional risk vulnerabilities to anti-money laundering (AML) and terrorist financing, newly issued guidelines from the Reserve Bank of India (RBI) to regulate payment aggregators/payment gateways, data residency and additional increased regulatory oversight by RBI Reserve Bank of India (RBI) aimed at improving governance and assurance functions.
Financial institutions need to invest more in technology around areas such as payments security, automated compliance management system, data strategy, cyber risk evaluation etc. to relieve the pressure on compliance teams. Using technology to strengthen internal teams can reduce labour costs, with a positive knock-on effect on profitability.
This roundtable gives the technology leaders an opportunity to discuss regulatory pressures, spending trends and business impact of financial compliance and why investment in technology should be a high priority to reduce business impact and maintain great customer experience.
Key Discussion Pointers:
- With ongoing focus around Digital transformation and partnering with Fintech, how has risk management changed in recent times ?
- How are financial institutions leverage Analytics and automation to detect and remediate the risk faster?
- How is compliance tracked and maintained against changing regulations?
- What is the mechanism for Governance around Policies & Procedure in the current fast paced agile environment
VP & CTO
ART Housing Finance
Jatinder Paul Singh
EBIX Cash Travel & Holidays
Senior Vice President – CISO & IT Governanc
DCB Bank Ltd
Dr. Sourav Dutta