Accenture (NYSE: ACN) has introduced a compliance-as-a-service offering to help financial institutions, fintech and technology companies cost-effectively combat financial crime and comply with related regulations, the company said.
Navigating the regulations that combat financial crime can be very expensive, and financial institutions have incurred hundreds of millions of dollars in penalties for failing to prevent parties from disguising illegally obtained funds as legitimate income. It is estimated that financial services firms globally will spend 4% of total revenues, on average, on compliance-related activities, with that figure expected to rise to 10% by 2021.
Accenture´s compliance-as-a-service (CaaS) offering provides an end-to-end capability that leverages SynOps — Accenture´s human-machine operating “engine” that synergizes data, applied intelligence, digital technologies and exceptional talent — to help financial institutions manage the scope and complexity of the ever-changing regulatory and compliance environment.
Accenture (NYSE: ACN) is a global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Visit www.accenture.com.