Source: Fintech Global
In a time when regulatory trends and developments and changing rapidly, its more important than ever to keep your eye on the ball. In a recent post by Ascent, the company outlined how firms can stay ahead of the curve.
The banking sector in 2023 is set to face a significant shift in regulatory oversight. Regional banks will need to navigate the intricate maze of state, federal and international compliance requirements, which is further complicated by anticipated regulatory scrutiny and the potential for new regulations.
It’s anticipated that certain rules will be modernised or even replaced, as the industry keeps pace with the changing banking landscape.
In light of these transformations, it’s imperative to have a solid understanding of your regulatory compliance status. The ability to adapt quickly and efficiently to changes remains central to maintaining compliance. However, shifting from a reactive to proactive approach will streamline any adjustments that new regulations may necessitate…
Read full article: https://fintech.global/2023/05/17/how-to-stay-ahead-of-the-regulatory-curve-in-2023/
