FEATURE navigate global regulations , financial services organisations need to replace these outdated data processes . Data is the key to managing organisational compliance and reporting against regulatory standards . One error in a data set could lead to inaccurate reporting , resulting in regulatory fines and reputational damage .
Douglas Greenwell , Head of Commercial Strategy , Duco
Technology also has an important role to play in aiding compliance with regulations , particularly for financial services firms .
Being handled by humans , manual processes bring a huge element of risk through our tendency to make mistakes .
Manual tasks can become tedious , and humans can tire , leading to errors .
A computer , on the other hand , won ' t become bored and performs consistently . Consistency is crucial when dealing with large datasets and compliance .
IN EMBRACING INTELLIGENT DATA AUTOMATION ( IDA ), ORGANISATIONS CAN REMOVE THE ELEMENT OF HUMAN ERROR .
Douglas Greenwell , Head of Commercial Strategy , Duco , tells us more . . .
Financial services firms are struggling to meet reporting requirements required for regulations due to their legacy systems and manual data management processes . To better
In embracing Intelligent Data Automation ( IDA ), organisations can remove the element of human error . Financial services organisations must move away from ineffective legacy systems and processes that produce undependable data which fails to meet regulatory standards . x www . intelligentcxo . com
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