Financial institutions around the world spend tens of millions of dollars a year on regulatory compliance (it is estimated that roughly 70 billion dollars are spent on regulatory compliance each year in the US alone). In recent years, the regulatory environment has developed without pause, and technological regulatory compliance solutions have become must-haves. Various companies are developing innovative technological tools to automate regulatory compliance processes, and are helping organizations improve said processes, reduce associated costs, enhance inter-organizational alignment, and, as a result, fulfill the needs of regulators and end customers alike.
The technological solutions that were born to enable enterprises, financial institutions, and fintech companies to comply with relevant regulations rely on big data, machine learning, and smart algorithms, and facilitate regulatory compliance that includes continuous scanning, monitoring, evaluations of, and reporting on the business environment and compliance processes. This, in addition to the automation of processes and control mechanisms, so as to provide a competitive advantage over the competition, a better customer experience, and the ability to develop products based on advanced technologies that allow rapid, yet flexible response to changes in regulation, as well as within organizations.
Yael Group has developed advanced technological solutions that meet this need. These include innovative technologies that enable customers to switch banks online, report credit information to the Bank of Israel to receive a credit score (as a private customer), open banking solutions, and regulatory solutions for iXBRL, XBRL, and SOX. Based on smart and future-forward technologies, our solutions precisely respond to regulatory requirements, while injecting much-needed flexibility, efficiency, and customer service into the organization’s customer-facing interactions.Read More
Banking Mobility Management
SOX & Risk Management
Bound by government regulations? Leave us your details; we’ll be happy to help.