The proliferation of new regulations emanating from the Dodd-Frank Act, Basel III and Solvency II are collectively inducing an outpouring of technology spending from companies in the financial service sector, a new report finds.
The sixth edition of Chartis Research’s “RiskTech100” report finds compliance concerns driving risk technology expenditures across the industry. Moreover, the principle-based nature of the new regulations is leading to a re-think of organizational structures, business processes and underlying technology architectures as well as fostering a trend toward "value-based compliance" and away from the traditional "tick box" mentality.
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