Financial services organizations are leveraging innovative regulatory technology tools to strengthen risk and compliance management in a cost-effective and time-saving way. Be it risk assessment, surveillance, testing and monitoring, or policy management, emerging technologies are permeating nearly every aspect of compliance programs. In the wake of these trends, the global governance, risk management, and compliance (GRC) market that was valued at US $1284.2 million in 2021 is projected to reach US $1881.9 million by 2028; it is expected to grow at a CAGR of 5.5 percent during 2022-2028.
One of the key enablers of this market growth is artificial intelligence (AI). In the face of increased compliance and governance requirements, AI offers promising solutions with its ability to automate repetitive tasks, assist in decision-making, and rectify common challenges and systematic issues faced by compliance professionals.
To spotlight such key developments in the industry, Financial Services Review illustrates how companies are leveraging the latest developments in financial compliance. The edition also features thought leadership articles from Nikolay Stoichkov, Head of the Strategic Risk Management Unit, First Investment Bank, Chad A. Schmookler, Senior Director, International Operations, InComm, and Celia Pizzi, Chief Compliance Officer at Travelex Bank, who shed light on various trends in the financial compliance space, including key developments in strategic risk management, wealth management services, and non-financial risk monitoring.
In this edition of Financial Services Review, we also bring you the story of some of the leading financial compliance solution providers and service companies that deliver the best outcomes for their clients. In the list, MAH Advising LLC particularly stands out for its team of licensed attorneys and industry-hardened professionals who help firms accomplish their core business objectives and interests by effectively managing and mitigating regulatory and legal risks. The list also includes The Bespoke Banker, a premier advisor for middle-market financial lending management, and Fiduciary Decisions, a pioneer in retirement plan benchmarking.
Through the following pages, we aim to highlight the innovative trends and latest developments in the financial compliance space. We would like to know your thoughts.
