Regulatory compliance and banking IT compliance

Regulatory monitoring for efficient banking compliance

Changes to regulations such as money laundering or data protection rules place high regulatory demands on banks.

 The changes often affect IT systems and processes. Banks and providers must therefore recognise the implications at an early stage and may need to modify their applications.

Regulatory compliance and banking IT compliance

Our regulatory monitoring service reduces the workload for banks. We monitor relevant changes or updates, analyse the implications of new or modified regulations, categorise them and assess if and how the affected banking applications should be modified. Changes, updates and suggestions are discussed online and documented in full. Banks can obtain regulatory monitoring as a service. Finnova, the core banking system manufacturer, actively uses this service. The community therefore benefits from the hive mind and direct discussions with relevant stakeholders.

When is it the right solution?

Our regulatory monitoring service is primarily aimed at Swiss banks that work with Finnova. Thanks to our service, they can reduce the workload of their in-house monitoring and/or banking compliance departments and implement regulatory requirements efficiently, effectively and on time.

Evaluating the implications of new or modified regulations for IT applications and processes is resource intensive and challenging. This is where our banking IT compliance specialists can take over. They identify modification requirements at an early stage and develop proposals for implementing mandatory changes.

Your benefits

  • Transparent and up to date: From draft regulation to implementation proposal
  • Central and interactive: Community platform for discussion and documentation
  • Resource optimisation: External regulatory monitoring and efficient processes

Procedure

Reduce the workload of your compliance team

We monitor regulatory developments, analyse their impact and assess whether the requirements can be met with existing IT and processes.

If not, we analyse the needs and develop implementation proposals for
our software partners so that banks can comply with the requirements as
quickly as possible.

Why Swisscom?

Expertise

Banking IT compliance with application management and operations

Together

A strong community with a wide range of retail banks

One-stop

Extensive banking, compliance and IT expertise from a single source

Find out more

Our experts will be happy to answer your questions. Contact us.