In today's banking sector, the concept of compliance has transcended its traditional role as a regulatory checkbox. Instead, it has evolved into a fundamental component that underpins the stability of the financial system. The events of the 2008 financial crisis served as a stark reminder of the consequences of inadequate compliance. Regulatory bodies worldwide responded by fortifying their frameworks, ushering in an era of heightened scrutiny for banks. These regulations touch nearly every facet of banking, from capital adequacy and liquidity requirements to risk management and reporting standards.
This is the third part of a 4-part series on the Journey of Automation, exploring emerging automation tools, technology, strategies, and innovation. Previous posts have covered the evolution of automation technologyandthe importance of having a digital transformation strategy. This post will elaborate on the two concepts, outlining why partnerships with Fintechs now just makes good business sense.
The Importance of Having a Digital Transformation Strategy
This is the first part of a 4-part series on the Journey of Automation, exploring emerging automation tools, technology, strategies, and innovation.