Perspectives

After noticing the pitfalls of traditional onboarding, Know Your Customer set out to transform the KYC and KYB process to one that was more efficient, provided a better user experience and delivered more robust compliance.

The FCA recently introduced Consumer Duty regulation, which aims to ensure customers receive communications from financial services firms that they understand. How can firms become more compliant with it?

Rising cyber-attacks and continued hardening market conditions have presented the cyber insurance industry with a multitude of challenges. How has the industry fared this year?

Regnology believes that ESG should be at the centre of a company’s activities, from finance to risk departments and credit ratings. A good ESG data strategy is key to this.

Globally, companies and assets are about to be revalued upwards or downwards according to their climate risk valuation. The stakes are high and the price of getting this valuation wrong could be disastrous, companies can no longer afford to kick climate risk down the road.

Founded in 2018, RegTech firm Aveni claims it is leading a new era of risk assurance by enabling 100% digitisation and automation of the quality assurance process. The firm analyses every customer interaction to drive enhanced data insights, comprehensive risk oversight and process automation.

As 2022 continues to roll-on, there will be new challenges for companies to manage as they enter the second half of the year. What are some of the big regulatory developments to keep an eye on?

As a result of the seismic changes from the pandemic, and a growing ESG movement, the need for an integrated and holistic approach to risk management has never been greater.

It is no secret that regulators around the world are becoming increasingly tougher on financial services companies. There is an unrelenting level of regulation being drafted and fines are hitting eyewatering sums. A report from Finbold pegged fines for non-compliance with AML, KYC and data privacy regulations at a total of €12bn in 2020.

Much like the initial scepticism to credit cards when they were first introduced, there has been some apprehension over the use of e-trust solutions. However, the industry is proving they are secure and effective, and their use is on the rise. Electronic IDentification is on a mission to make digital identity solutions the norm.