You Can Have It All Balancing Fast Banking with Better Compliance
As consumers increasingly desire faster banking, more convenient access to their accounts and quicker decisions on their loan requests, financial institutions are hamstrung by a rising wave of financial regulations. Between new and existing regulatory requirements including Current Expected Credit Losses (CECL), customer disclosures and fair lending laws, to the mounting risks of default, fraud and cybersecurity, to the new challenges presented by the global health crisis brought on by COVID-19, financial institutions are stuck between two seemingly mutually exclusive and competing priorities: fast banking and better compliance. At nCino, however, we believe it’s possible for financial institutions to have it all. The key to striking this balance is that banks must be willing to approach their business differently.
Read More
