The regulatory and business drivers of transaction monitoring.
May 2008
This Executive Whitepaper looks at the topic of transaction monitoring, tracing its development over time, including its definition and the implications of monitoring on a firm's underlying processes and procedures.
It goes on to look at how technology has been introduced, not always successfully, in order to solve some of the problems that can arise from the dual challenge of monitoring the growing volumes of transactions globally, while at the same time complying with increasingly onerous regulation.
It concludes by presenting ways in which transaction monitoring technology, when properly configured, closely linked with the firm's risk management policy, and driven by a skilled compliance practitioner, can succeed in providing the professional user with the extra edge in compliance management.
The first of our Community white papers tells the story of the community as a concept and an entity. It explores the development of professional networks and the importance of community exchange in occupations that rely heavily on the interpretation of complex and varied information. It discusses how technology can be an extremely empowering force – bringing together like-minded individuals from across the globe, in one place to share, engage, debate and develop.
This Executive Whitepaper discusses the challenges that the modern financial services firm faces in today’s highly regulated market. It takes a look at the process of regulatory change and the indicators that act as early warning flags today, to the regulation and enforcement actions of tomorrow.
It describes the difficultly of detecting, tracking and understanding the volume of these change indicators and how firms have traditionally resorted to throwing more and more manual and costly resource towards trying to monitor change.
It concludes by presenting the way in which many proactive financial services firms today, are future-proofing their business for tomorrow.
This paper examines the impact that technology and the Internet have had on information provision for regulatory professionals. It details how the new world of connection, control and confidence can streamline workflow within an organization and enable a highly proactive approach to compliance.
The compliance challenge facing financial services companies has never been more complex, nor more burdensome. Regulatory requirements are not destined to get any lighter in the foreseeable future and are often described as simply ‘the cost of doing business’ in financial services by senior management. This paper outlines the current regulatory environment and one of the key challenges facing the modern regulatory practitioner within a large financial services provider.
Harnessing Technology to Meet Burgeoning KYC Requirements
June 2007
This paper examines the increasingly complex terrain of Customer Due Diligence (CDD), Know Your Customer (KYC) and Customer Identification Program (CIP) requirements. It discusses the regulatory obligations of reporting entities, the underlying principles, procedures and processes involved, and the ways in which technology can help firms meet their obligations and provide the appropriate foundation for anticipated future developments.
