The existing approach to client reviews has mainly involved using as many people and as much money as necessary to prove continued compliance with regulation. Often far too many checks are repeated, greatly increasing the overall cost of compliance and generating huge remediation projects that are unsustainable for FIs.
Technology can revolutionize the periodic review operating model if it can proactively monitor for changes in key corporate or personal data, as well as watchlist, sanctions and news content. Arachnys /Sentry was developed to do deliver this value to FIs.
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