Think you have digital compliance & risks covered? Think again

ByIRTA

Think you have digital compliance & risks covered? Think again

© Gartner

Digital business is the new normal, and financial services regulators are hot on the case. Indisputable record-keeping across all digital channels — online, social and mobile — is a legal requirement (SEC, FINRA, DOL, MiFID, FFSA, Fidleg,…). There is no room for doubt.

Are you sure you have digital compliance and risks covered?

Unfortunately, legacy technology does not improve with age. Continued investment into legacy systems that are failing to deliver is like slapping lipstick on a pig; however much you add, you can never disguise what’s going on underneath. And in the case of digital compliance, that translates into higher costs and increased business risk.

Read about why digital compliance matters, how to tell if your legacy system is compliant, techniques for cutting the cost of compliance and more here: http://bit.ly/2acx5LS

Richard Hunter from @Gartner_Inc recently said “Doing the minimum necessary to be compliant with regulations is not sufficient anymore”. Hear more about The New Risks of Digital Business — a webinar from Richard Hunter, The New Risks of Digital Business | Gartner Webinars VP & Gartner Fellow.

Greg Young from Gartner predicts “Through 2020, 99% of vulnerabilities exploited will continue to be ones known by security and IT professionals for at least one year.”

You know the weakness of your legacy systems today:

  • They don’t protect your business, neither your board because they are not compliant and full of risks.
  • They are high maintenance and very expensive. It’s old technology.
  • It’s hindering you to deploy modern, state of the art applications and further transform digitally.

It’s time to switch your legacy applications. More about it here!


Think you have digital compliance & risks covered? Think again. was originally published in RegTech Forum on Medium, where people are continuing the conversation by highlighting and responding to this story.

Source: medium posts

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