Harnessing Digital Finance Technology for Compliance
Are you often puzzled in implementing compliance successfully and precisely due to its variations based on geography? Are you struggling to keep up with the updates on the compliance regulation? Is your compliance budget overshooting your compliance capital? Then, you should delve further to know about digital finance technology that interfaces with regulatory compliance technology. It provides one-stop solution for all your compliance technology requirements. Digital transformation services help in enterprise digital transformation. They facilitate in building digital technology solution that eases performance of day-to-day activities of digital transformation companies. Financial services technology helps in implementing compliance in a more reliable fashion. This is achievable because compliance technology incorporates AI and ML to learn and analyse a large pool of pertinent data. Implementing data science in digital transformation services aids in coming up with innovative products and services by financial services technology establishments. Digital financial technology harnesses the power of data to provide effective compliance.
Listen to this edifying The Technology podcast by BizClick Media with Shub Nandi, CEO and Co-Founder of PiChain. In this podcast, they discuss on leveraging the power of data science through compliance technology powered by AI and ML to revolutionise sustainable compliance. They also discuss the challenges faced by financial services technology providers during the pandemic and lockdown. The podcast beautifully points out the way in which the touch technology once considered to be fascinating has now become a nightmare due to COVID-19.
They both discuss about various alternative technologies such as voice-based systems, complete touchless technology, digital onboarding and regulatory compliance technology in detail. The podcast relates the gap in compliance score, which leads to increased risk, to overseen onboarding and the challenges faced by the compliance officers in using traditional systems. This podcast also unfurls the advantages of digital transformation services in connecting various data points to help in fruitfully executing compliance strategies.
Digital finance technology is essential to build highly-secured systems and applications to make contactless services like digital onboarding, video KYC, digital signature, voice-based services, and digital KYC safe, secure, and successful. Regulatory compliance technology generates reports by collecting and collating data from more than 10 systems in an effortless manner. This report is highly reliable and precise as they are generated by connecting various data points of the fraudulent transactions including the transactional behaviour of the fraudster. It also helps in implementing risks and compliance effectively and efficiently. Thus, it helps in reducing your compliance cost, increasing credibility of your organisation, and meeting your compliance needs within your budget.
Were you able to find out the answers for your questions? Are you clear about the solutions offered by digital transformation services interfaced with compliance technology to prevent and solve structured scams? If not, then why are you waiting, hit that play button to gain knowledge provided in the podcast to clarify your doubts. If yes, even then plunge into the podcast by hitting the play button and enjoy more insights about financial services technology. This will help you make a milestone decision in implementing digital finance technology in your organisation to harness its advantages and enjoy the benefits.