Forget Regulations !! Ignore Compliance !!!

Posted by: Vasu Vijay | September 24, 2015

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What ??? In these days of increased scrutiny, skyrocketing fines and changing regulations, you advise me to ……

Precisely – the less you have to think about regulations and compliance, the more productive you are.  What you need is a healthy dose of process re-engineering and automation.

Processes need to be light – and what I mean by that is that even though (heavy) processes may start with the teller and end up in Treasury, one needs to ensure that the individual executing a process does not see or interact with more than three functional units. Beyond that, neither the individual nor the organization is able to track and measure responsibility and accountability.

Processes need to embed compliance requirements. And since requirements change frequently, the processes need to be adaptive – changing from the ground up, rather than a top down push.

Automation is the key to “peace of mind”. Even when one is asleep, the systems are working to ensure that data is collected, analyzed, and presented in the appropriate form to the correct user.

Predict360 is designed for building light processes; its workflows are simple, easily created and rolled out. Though the application can accommodate heavy processes, and it facilitates visibility across any number of functional units, its role based authorization scheme ensures that the user is always in the right place and has access to the right amount of information via dashboards and reports.

Predict360 can be embedded into all the relevant operational processes, so that users do not have to take extra steps for being compliant. In addition, it automates creation of tasks, alerts, change tracking, analytics and dashboard updates, so that the information presented is always up to date.

So…forget regulations: Let Predict360 take care of regulatory change management and alert you when you have to take some action.

So…ignore compliance: Let Predict360 automatically generate reports for consumption by the regulators  and provide dashboards for operational compliance tasks.

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