Compliance Parity Modernization for Customer-Facing Financial Platforms
Keywords:
RegTech, Digital Banking Platforms, KYC Compliance Architecture, Legacy Modernization, Cloud-Native Financial SystemsAbstract
Regulated entities cannot afford to let changing compliance obligations on older systems, or the movetowards cloud-native and API-based service architectures, compromise how financial compliance is achieved and protected. Compliance control patterns in the legacy operating model, such as identityproofing, consent, transaction orchestration, and sensitive data access workflows
References
Bank for International Settlements, "BIS Annual Economic Report 2023: The financial system in the digital age," Basel: BIS, 2023. [Online]. Available: https://www.bis.org/publ/arpdf/ar2023e.htm
The World Bank, "Regulatory Decision Tree,” Key Considerations in DFS Regulation and Licensing. [Online]. Available: https://digitalfinance.worldbank.org/subtopics/key-considerations-dfs-regulation-and licensing
