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By nCino - Balancing Fast Banking with Better Compliance
May 11, 2020
As consumers increasingly desire faster banking, more convenient access to their accounts and quicker decisions on their loan requests, financial institutions are hamstrung by a rising wave of new financial regulations. The burden includes new and existing regulatory requirements including the CECL accounting standard, KYC/AML, customer disclosures and fair lending laws, while risks of default, fraud and cybersecurity continue to mount. Financial institutions must also respond and adapt to new federal-issued legislation and customer needs for immediate access to financial services in response to the global health crisis brought on by COVID-19. Financial institutions are stuck between two seemingly mutually exclusive and competing priorities: fast banking and better compliance. Something has to give.
But what if you can have both? This white paper addresses how financial institutions of all sizes can achieve both fast banking and better regulatory compliance through the adoption of secure, emerging and cognitive technology and superior data management. With the right strategy and technology, fast banking can actually enable better regulatory compliance even in the midst of changing and challenging times. Welcome to the new age of agile banking.
How to Access: https://www.ncino.com/news/whitepapers/fast-banking-and-compliance
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