With such promise emanating from the industry , the consultant company defines the five key focus areas :
1 . Regulatory reporting : allowing the industry to automate data distribution and regulatory reporting process via big data analytics , real time reporting and cloud .
2 . Risk management : provides the industry with the ability to detect compliance and regulatory risks , assess risk exposure and anticipate future threats .
3 . Identity management and control : to facilitate counterparty due diligence and know your customer ( KYC ) procedures . The capability also helps with anti money laundering ( AML ) and anti-fraud screening and detection .
4 . Compliance : provides the capability to monitor and track the current state of compliance and upcoming regulations in real time .
5 . Transaction monitoring : provides real time transaction monitoring and auditing solutions that leverage Blockchain and cryptocurrency technology .
“ Between 2009 and 2012 , 50,000 new financial sector regulations were implemented between this period , which doubled further by 2015 ”
— Elias Ghanem , Head of Market Intelligence , Capgemini Financial Services
55 businesschief . asia