Even with the emergence of today’s RegTech innovation, most institutions today need more than 12 months to make regulatory changes.
The cause: custom coding.
No code software builds itself and gives managers of customer onboarding and KYC functions visual tools to easily configure unique nuances—using business metaphors that automatically generate code and user experience
Artificial intelligence and robotics provide crucial value to banks through predictive and adaptive analytics. They also cut down time-consuming, manual tasks through robotic process automation and robotic desktop automation (RDA).
The combination of industrial-strength and unified client onboarding, KYC, offboarding, RegTech solutions, AI, and robotics enables global banks to drive rapid results that outperform.
This leads to a major win: Business, IT and compliance can collaborate to drive results—with zero code, end-to-end CLM, client onboarding, and KYC solutions that drive innovation. Banks can now achieve business outcomes in minutes, as opposed to years, and outflank change at a record pace as they adapt to never-ending regulatory change. No code CLM and RegTech solutions that rapidly scale, deliver, and adapt represent the future of true digital transformation and digitization—and sound the coda for old-school code.”
“The number of individual regulatory changes banks must track on a global scale has more than tripled since 2011, while banks and other financial institutions have spent nearly $321 billion on compliance enforcement actions (from 2007 until 2016).1 As regulatory compliance becomes increasingly burdensome and costly to manage, every financial organization is feeling immense pressure to update resource-intensive manual compliance programs. Organizations need technology-driven solutions that leverage automation and can be easily integrated into existing processes and software.
Compliance.ai, a modern regulatory change management platform for financial services companies, has developed a strategic partnership with LogicManager, the leading enterprise risk management (ERM) software provider. With this partnership, LogicManager adds Compliance.ai’s comprehensive, customized and financially-focused regulatory content to its integrations library within their platform. This partnership will empower compliance teams to proactively manage regulatory changes.”