Digital intelligence solutions can help realize significant cost savings while preventing fraud and providing a pleasant customer experience.
Data governance – the process by which banks ensure that the data they manage and ultimately include in their financial statements is accurate and trustworthy – has become increasingly critical as financial services institutions face immense regulatory scrutiny to prove the trustworthiness of those financial statements.
An increasing number of community bankers are asking themselves whether its worth the hassle – and the risk – to originate mortgages, particularly after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the subsequent promulgation of the qualified mortgage and ability-to-repay rules.
Should a financial institution be held fully responsible for unknowingly supporting terrorist financing when their compliance program is up to date? The answer to this question, which was posted on a LinkedIn anti-money laundering blog, would seem obvious: a robust, proactive compliance program should serve as a shield against civil or criminal enforcement actions.