Oct 13, 2021
Financial institutions are dependent on trust. Without it, people would not hand over their hard-earned money to banks and the entire global financial system would collapse. Regulations—while burdensome—exist to create public trust. However, complying with these regulations requires more than an earnest heart; it requires active accountability.
At its core, financial services compliance comes down to transparency: retaining records, reviewing non-compliant acts, and protecting user information. The only way to reliably have the data control to perform these actions is to have information governance as the foundation of compliance.
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