How have technology priorities changed as a result of the pandemic?
In the areas of financial crime compliance, cybersecurity, and operational risk, COVID-19 is having the effect of accelerating trends that were already underway: increasing efficiency, automating processes and analysis, and moving systems to the cloud.
- Efficiency is taking on even greater focus with reduced on-site workforces and mandates to meet tighter budgets.
- Automation leveraging AI toolkits is key to efficiency and to ensure continued compliance and risk operations with reduced workforces.
- Cloud deployment of compliance and risk systems supports the remote workforces which are needed to maintain operations during the pandemic, provide cost efficiencies, and support AI and smart automation.
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