Skip to Content
Is Compliance Outpaced?
Is Compliance lagging behind Fast-paced Technology Advancement? As per Accenture report - “Compliance is facing a new challenge to innovate in order to manage the rising day-to-day complexity … in a world where the delivery of financial services is continually disrupted by advances in technology.”

Accenture in its report states that - "Compliance’s role as both a strategic advisor and a risk assessor continues to be challenged by the diversity of risks to understand, monitor and manage. In three years, cyber risk is expected to bein the top three most challenging risks to manage".

The preparation industry-wide is to adhere to existing Compliance and mitigate upcoming risk metrics in existing technologies. New risks in existing technologies are imperative as adoption increases. Ever growing internet penetration and adoption of mobile will add more to it.

Institutions anticipating an 89 percent increase in compliance investment over the next two years.

Compliance institutions and Governments are struggling to even cater to those increasing risk due to accelerated penetration of existing technology.

Though there are more challenges and which are yet to be discussed and vindicated on big platforms.

Question is about - New Technologies.

There is large scale research and adoption over AI, ML, Blockchain, Quantum Computing, RPA (Robotic Process Automation), Drones and AR (Augmented Reality)/VR (Virtual Reality)/MR (Mixed Reality). These technologies have already been adopted in some way or another and are rising at an unprecedented rate than before.

The complex nature behind these technologies needs deeper understanding to create boundaries around it. Its time to start discussing them on open forums and aggregate industry leaders to come along with the common goal of creating compliance around it. Undue delay can lead to the irrelevance of compliance. This will expose people, government, business, resources at risk. That means we would be openly exposed.

  • Consider Quantum Computing making all encryption irrelevant.
  • Consider AI becomes smart enough to reinvent itself.
  • Consider AI combined with RPA to self create machines.
  • Consider "Singularity" leading to human slavery again.
  • Consider flying Drones going rogue.

As per Accenture report - While investment in the function is rising and expectations have matured, Compliance has in many cases not taken advantage of the tools and technologies that can help it effectively leverage this investment.

These technological advancements are so powerful that the outcome can be very scary if left unregulated.

Overall, Compliance is itself facing risk as to its continually disrupted by advances in technology. More onus toward governments to work in this area to accelerate work and bring consensus between major parties for adherence.

Delivering excellence across value chain

Industry Expertise

Industries

As a digital first organisation, our services cut across multiple domains. Fastcurve is serving in Logistics, E commerce, Cyber Security spaces.
Experts from FinTech, HealthTech, EduTech
End to end product implementation

Services

Technology is our forte. We have extensive experience various implementation areas of technology, be it complete Enterprise solution or migration of technologies or re-engineering products.
Legacy to Latest Tech stack
Best Practices, Best Design, Best Support

Consultancy

Fastcurve Subject Matter Experts, enable clients achieve more in setting up process, adoption and growth. We engage with client over common goal of best in class implementation of the innovative ideas.
Detailed Research and Report
Focussed Implementation and Growth

Products

Experience Fastcurve product suite, empowering users to experience technology solutions which augments their capabilities in executing domain centric activities.
Edzag for Education
PoST for Merchants
View Products

FastTools - Tool Chain

FastTools is well tested, adaptable and flexible set of inhouse frameworks and tool chain which act as value multiplier for clients. These are pre defined Agile templates, report formats, QA automation tools, Cloud migration frameworks and many more.
Rapid execution of projects
Large coverage of scenarios

Perspectives

Industry Cognizance