Kinil Doshi is a senior VP at Citibank and a fintech expert in banking compliance and risk management with two decades of experience. Read Kinil Doshi's full executive profile here.
is a senior VP at Citibank and a fintech expert in banking compliance and risk management with two decades of experience.Advances in technology have played a crucial and welcomed role within the banking sector, particularly concerning compliance testing and monitoring.
In particular, this article will look at how big data analytics and cloud computing can enable compliance teams to streamline their processes and improve their function.Big data analytics involves analyzing large volumes of data to uncover patterns, correlations and trends. In the context of compliance, it allows banks to process and analyze data from various sources in real time to identify risks and ensure regulatory adherence.
For example, the sharing of real-time data, and the use of collaborative tools, can enhance the efficiency and trustworthiness of compliance activities and enhance their effectiveness. It can also enable remote work and collaboration.Once the applications of big data analytics and cloud computing are understood, the combination of these technologies can have a transformative impact.
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