The global economy continues to shift towards an increasingly data-driven economy, so called “big data” and related rapid developments in technology is revolutionizing the regulatory space in the financial sector.
These days, regulators expect firms to be proactive in detecting, preventing, and remediating compliance issues within their own operations. But meeting these expectations as a financial institution can be both costly and inefficient. Now more than ever, speed, flexibility, and robust analytical capabilities are focal points for financial services.
Driven by the ever-growing need for fast and efficient KYC and KYB processes, and burgeoning compliance costs, positive disruptions to the financial sector are being spearheaded by RegTech advancements. Leading RegTech players like ZignSec can not only help compliance teams keep pace with regulatory changes but also help create significant and streamlined return on investment as well.
Let’s take a closer look at some of the key benefits of RegTech services.
1. Detect Market Abuse
Many firms rightfully fear that regulators have more information than their compliance teams, and being the last to know about market abuse among employees is a genuine and justified concern among firms. Truthfully, the fear is justified. Regulators are processing market data faster and more efficiently than ever, and financial firms are under pressure to ensure that their electronic communications surveillance programs are properly tuned for the business they conduct. With the right RegTech tools, many of which we provide at ZignSec, you can increase your chances of detecting market abuse before it’s too late.
2. Scaling Solutions
At ZignSec, we pride ourselves on our ability to utilize sustainable and cross-border and scalable solutions, without sacrificing overall quality. RegTech tools like ours give you the flexibility and pathways for growth, and it allows you to move away from rigid enterprise risk management systems. Thanks to RegTech solutions, scaling has never been easier.