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There’s no question that today’s financial landscape is rapidly evolving. At the same time, the pace of technological innovation has accelerated, prompting a regulatory response in areas such as data privacy, payment security, and AI use.

Financial institutions, in particular, must comply with a wide range of regulations. For those operating internationally, the list of requirements grows even longer. In 2024, fines for noncompliance reached their highest level yet, soaring above $19bn globally — with banks accounting for 80% of those penalties.

Unfortunately, regulatory compliance is often seen as a burdensome check-the-box exercise and an innovation blocker. But effective compliance is so much more than a fine avoidance program: It protects your customers and reputation, helps you navigate a changing business world, and, best of all, can serve as a strategic advantage.

Download your copy of Cracking the code: A proactive approach to regulatory compliance from RegTech and AuditBoard to explore: