Lighten The Load
Let intelligent automation ease
your compliance burden.
Key pressure points
- The growing complexity of regulatory environments
- Snowballing data and reporting requirements
- Heightened regulatory scrutiny
- Conflicting laws across jurisdictions
- More pressure to demonstrate proof of compliance
If not managed strategically, these factors can drive up the cost of doing business.
But be wary of growing complacent
Eye-watering fines for regulatory non-compliance continue to make headlines.
In the global financial industry alone, from the financial crisis until the end of 2019, firms have been fined
USD$ 36 billion.
And in the privacy sphere, the Australian Government is introducing tougher privacy laws with higher penalties for non-compliance. For example, the maximum penalty of AUD$ 2.1 million for serious or repeated breaches will increase to whichever of the following amounts are greater:
- AUD$10 million
- 3 x the value of “any benefit obtained through the misuse of information”
- 10% of annual Australian turnover
To stay in the lawmakers’ good graces, avoid crippling fines and maintain customer trust, your business needs a strategy for managing compliance masterfully.
How can you stay ahead of the game?
Modern technology can help you cope with complexity and use compliance resources more flexibly.
While off-the-shelf regulatory technology (RegTech) platforms can play a valuable role, they are sometimes out of reach – from a cost and time-to-value point of view – for many businesses.
As an alternative, an agile intelligent automation solution that harnesses capabilities like RPA, low-code DPA and AI can deliver results in a fast and scalable way, without displacing existing IT systems.
Working together, these technologies can help you manage compliance more flexibly and strategically. And because they’re not function-specific, you can use these tools to transform other business areas – building the resilience needed to survive the crisis and thrive in 2021 and beyond.
Next steps
Eye-watering fines for regulatory non-compliance continue to make headlines.
In the global financial industry alone, from the financial crisis until the end of 2019, firms have been fined
USD$ 36 billion.
And in the privacy sphere, the Australian Government is introducing tougher privacy laws with higher penalties for non-compliance. For example, the maximum penalty of AUD$ 2.1 million for serious or repeated breaches will increase to whichever of the following amounts are greater:
- AUD$10 million
- 3 x the value of “any benefit obtained through the misuse of information”
- 10% of annual Australian turnover
To stay in the lawmakers’ good graces, avoid crippling fines and maintain customer trust, your business needs a strategy for managing compliance masterfully.
Ready to give intelligent automation a go?
It is not IF you will Hyperautomate
But WHEN you will Hyperautomate
tomorrow for your people
and your organisation,
we’re ready to start today.
Contact us now