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So far Sarah Hamilton has created 231 entries.

Top 5 Biggest Risks Faced by Fintech Firms

Fintechs provide ease, adaptability, and lightning-fast service in a market dominated by traditional systems and institutions. Market expectations have moved swiftly due to improved goods and speedier services, and a new standard for financial instrument experience has been established. However, working in a sector where accountability and security are crucial comes with some risks or many risks! In this post, we will discuss the five key risks confronting fintech operational teams today. But before that, let us shed a brief light on operational risk in fintech. […]

Best Practices and Aligning Compliance with Corporate Goals; an Interview with Global Risk Community

360factors CEO Carl McCauley was invited for an interview on the Risk Management Show podcast, hosted by Boris Agranovich. The 24-minute discussion touches upon banking and fintech partnership trends and compliance readiness. Presented are two short excerpts from the interview. Listen to the complete interview here Banks and FIs are focused on utilizing FinTech to get the best performance out of their organization but often do not have experience with FinTech since it is still a relatively nascent domain. The host asked Carl to provide […]

The FinTech Approach to Compliance Management

FinTech has revolutionized the financial sector globally in just a few years. FinTech apps used to be limited to a single function initially, but new FinTech offerings include many banking-adjacent services. The appeal to users is easy to understand; FinTech solutions are generally more accessible and faster than traditional financial channels. However, there is still one area where FinTech struggles with regulatory compliance. Banks and financial institutions are experts in the financial world, which means that these organizations are full of experienced financial experts that […]

How Compliance and Risk Technology Enhances Collaboration Throughout the Organization

Employees at various levels within the organization have diverse responsibilities regarding risk and compliance management. Still, each of them must perform their assigned duties to minimize risks and assure compliance successfully. When risk and compliance technology was first introduced, it was confined to a few functions and was used by a single department within the firm. The technology has advanced to the point that risk and compliance platforms can now support a variety of workflows for various departments inside the business. This evolution of the compliance […]

Four Simple Steps to Boost Compliance Management

A recent survey by ACAMS (Association of Certified Anti-Money Laundering Specialists) revealed how businesses, mostly financial institutions (71% of the respondents belonged to BFSI), are managing compliance and the challenges they face. More than 63% of respondents were concerned about delays in compliance issues occurring and being reported. The importance of AI (Artificial Intelligence) technology is widely respected across the industry as well with 92% saying AI can help curtail financial crimes. The survey results reinforce the argument that businesses need a better and more efficient […]

Leading with Vision – How Risk Technology Helps Organizational Leaders 

“One of the tests of leadership is the ability to recognize a problem before it becomes an emergency.” – Arnold Glasow Organizations depend on their leaders for guidance, strategy, and direction. Any organization that wants to grow wants its leaders to make the best decisions possible. Managing risks is one of the most critical tasks a department leader has in a financial organization. No project or task can be completed successfully unless all the associated risks have been managed or mitigated adequately. Yet, there is a […]

How Does Machine Learning Impact the Future of Risk and Compliance Management?

Machine learning has been an essential topic of discussion in different industries over the past decade. Machine learning is not a new technology; the concept has existed for multiple decades, and the technology itself is more than two decades old at this point. However, the technology was not easy to use and not financially viable for commercial usage until this decade. Like all other businesses, financial organizations are excited at the prospects of machine learning in many different domains. Machine learning is already being used […]

How Complaints Can Provide Insights for Risk and Compliance Managers

Complaints have always been important for businesses. Managing complaints properly is critical for several reasons. The most obvious reason is that it is a core function of customer service to ensure those customer complaints are dealt with. However, most organizations utilize complaint data for much more than just replying to the complainants. This data can highlight problems in service delivery, which helps the organization improve its processes. Increased synergy in financial organizations is enabling risk and compliance managers to go one step ahead and leverage complaint […]

COP26 Finance Day Puts the Focus on the Role of Financial Organizations

Climate change is one of the significant points of discussion throughout the world for policymakers. The Finance Day of COP26 focused on how the financial sector of the global economy can play a role in helping manage climate change and reach the goals many countries have set to lower emission levels and pollution. The ideas put forward at COP26 and previous similar conferences present the financial perspective on climate change. Mark Carney, who is the UN Special Envoy for Climate Action and Finance talked about how the […]

The Limits of Spreadsheets Versus Risk Management Platforms

Spreadsheets are a common way to store and analyze data in businesses operating in every industry globally. As good as spreadsheets are, certain limitations show up when it comes to specialized domains. Risk managers have used spreadsheets to collect risk data, track the progression of different tasks, create risk models, and much more. However, modern risk management platforms provide a much more robust toolset to risk managers and have made spreadsheet-based risk management an obsolete practice for efficiency. The Limits of Spreadsheets While spreadsheets may […]