19December 2022Technological advancements have transformed how we communicate, make purchases and do business across all industries. Compliance programs within the financial services industry are no exception, and we have relied on technology solutions to help us build and operate effective programs for many years. Today, there are technology solutions available for nearly every element of a compliance program, including risk assessments, training, communications and awareness, surveillance, testing and monitoring, ethics hotlines, managing regulatory changes, case management tools for investigations, policy management, digital Codes of Conduct and more.As the pace of innovation has increased in recent years, new financial technology solutions have continued to emerge, enabling businesses to increase automation, create efficiencies and enhance the customer experience. At the same time, regulatory technology solutions have continued to rapidly expand to support the management of regulatory processes within compliance programs through technology.Over time, however, businesses have been able to invest far more in technology than compliance programs. No surprise there: businesses are revenue producers, while compliance programs are cost centers that invariably have more limited budgets for this kind of investment. However, current trends RECENT TECHNOLOGICAL ADVANCEMENTS IN COMPLIANCE AND HOW YOU TACKLE THESE CHALLENGES IN YOUR COMPANYBy Steve Harris, SVP, Chief Ethics and Compliance Officer, Lincoln Financial GroupSteve HarrisINSIGHTSCXO
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