Staying compliant is tough, but it’s even more challenging without timely insights. How quickly can you spot the risks that matter?
7 November 2024
Staying compliant while managing risks is no small task. There is growing pressure to navigate complex regulations, manage large amounts of data and respond quickly to risks while running systems smoothly. Real-time data powers smarter RegTech solutions, helping compliance officers and risk managers navigate complex regulations, in a highly governed financial environment.
Real-time data is an increasingly vital component of regulatory technology solutions, allowing platforms to streamline processes, reduce noise, and ensure compliance across various jurisdictions.
Navigating Regulatory Complexity with Ease
Regulatory requirements come in many forms. From preventing financial crime to ensuring market transparency and data privacy, institutions must navigate distinct yet overlapping categories of regulations:
- AML (Anti-Money Laundering) and KYC (Know Your Customer) focus on preventing financial crime, ensuring institutions monitor suspicious activities, and conducting customer due diligence.
- MiFID II governs the transparency and fairness of financial markets, ensuring investor protection and market efficiency.
- GDPR regulates how institutions handle personal information across the European Union, addressing the critical need for data privacy and security.
This is where real-time data becomes essential. RegTech solutions deliver instant insights into emerging changes by integrating news and regulatory updates from over 235,000 sources across 220 jurisdictions. Compliance teams can automate alerts for new regulatory developments, helping them stay ahead of compliance risks without drowning in complexity.
Real-time data ensures institutions can meet the demands of multiple regulatory frameworks by staying informed and ready to act on new requirements.
Opoint:
The Power of Real-Time News Data
Our commitment is to equip you with the data needed to stay compliant and risk-aware in an ever-evolving regulatory landscape.
Cut Through Complexity
Compliance shouldn’t be overwhelming. With global coverage and precise filtering tools, Opoint’s data feeds streamline your compliance process, helping you focus on what matters.
Stay Ahead with Real-Time Alerts
Automate to Save Time and Resources
Manual monitoring is a burden. With Opoint’s automated data feeds, flag critical risks and save time, allowing your team to concentrate on high-impact tasks.
Taming Data Overload with Smarter Filtering
One of the most significant challenges in compliance and risk management is handling the sheer volume of data. Teams must sift through mountains of structured and unstructured information, often from disparate sources, to find the valuable insights they need. Sorting through irrelevant content wastes time and risks missing critical issues.
Opoint’s real-time news feeds don’t just flood you with information—they provide structure and filtering layers that make relevant content easier to surface and more efficient to manage. Corporate classifiers (such as LEIs and FIGIs), geo-locators, and other metadata fields enable custom deliveries, making it easier to focus on high-risk areas, target jurisdictions, and specific regulatory threats.
Filtering tools built into real-time data feeds allow teams to focus on actionable insights, significantly reducing irrelevant data.
Staying Ahead of Rising Regulatory Pressure
As regulatory scrutiny continues to increase, real-time data has moved from a “nice to have” to a necessity for any organisation serious about compliance and risk management. Without timely insights, penalties, reputational damage, and missed opportunities to address risks proactively leave institutions vulnerable.
Staying Ahead with Global, Non-English Coverage
One often overlooked advantage of real-time news data is the ability to catch critical stories from global, non-English sources before they hit mainstream outlets. This early access helps institutions make informed decisions faster—responding to risks, making trades, or adjusting strategies—giving them a crucial edge over the competition.
By integrating real-time global news data into RegTech solutions, organisations can stay ahead of emerging risks, maintain up-to-date compliance, and respond to regulatory changes faster than ever. This helps institutions avoid penalties and improve operational efficiency and long-term resilience.
Real-time data is essential for mitigating risk and ensuring compliance in today’s rapidly changing regulatory environment.
Automating Compliance to Save Time and Reduce Errors
With regulations tightening and penalties for non-compliance growing more severe, reliance on manual processes is becoming a liability. Mistakes are more likely to slip through the cracks, and reacting to risks in real-time can seem impossible.
Automation powered by real-time data solves this challenge. RegTech solutions can automatically monitor global news sources for threats like fraud, money laundering, and negative media coverage without constant human oversight. Customised monitoring allows compliance teams to flag only the most relevant risks, get real-time alerts, and act before issues escalate.
You can reinvest the time saved by automating these processes into more strategic tasks, such as improving workflows or developing more robust risk management frameworks.
Automation reduces workload, improves accuracy, and ensures compliance with risks and requirements.
How Real-Time Data Solves Pain Points Across Key Sectors
Real-time data isn’t a one-size-fits-all solution—it’s adaptable to different sectors’ specific challenges and needs. Let’s explore how it benefits financial services, banking, and insurance industries, helping them stay compliant, reduce risk, and operate more efficiently.
Financial Services: Mitigating Regulatory Risk and Boosting Operational Efficiency
Financial services companies are under immense pressure to comply with stringent regulations while managing risks tied to client transactions, investments, and partnerships. Non-compliance isn’t just costly—it can seriously damage reputation and customer trust.
Real-time data is crucial for:
- Risk Mitigation: Real-time adverse media monitoring helps financial institutions detect potential issues such as fraud, money laundering, or negative media about key clients before they escalate.
- Regulatory Compliance: Staying compliant with constantly evolving regulations (e.g., MiFID II, AML, KYC) is more straightforward when compliance teams can access instant news updates, helping them react quickly to risks.
- Operational Efficiency: By automating risk detection and compliance monitoring, financial institutions can free up internal resources, reduce manual errors, and focus on strategic business growth.
Real-time data reduces the operational burden of compliance and helps financial services companies act on emerging risks immediately, ensuring smoother and more efficient regulatory adherence.
Regtechs: Safeguarding Against Financial Crime and Fraud
Banks face increasing threats from financial crime, including money laundering, fraud, and terrorism financing. These institutions need fast, accurate information to detect suspicious activity and maintain trust with regulators and customers alike. Real-time data is a pre-requisite for any Regtech platform provider looking to support financial institutions, including through:
- Real-Time Fraud Detection: Automated monitoring of news sources helps banks detect potential fraud cases as they emerge, allowing for quick investigation and mitigation.
- Customer Due Diligence: Banks must perform thorough due diligence on new customers and business partners. Real-time data provides timely insights into potential red flags, ensuring that onboarding processes comply with KYC and AML regulations.
- Enhanced Customer Monitoring: Continuous adverse media screening allows banks to maintain compliance throughout the customer relationship, ensuring they remain aware of any emerging risks tied to high-risk clients.
Real-time data empowers banks to stay ahead of financial crime, ensuring they can meet regulatory demands while safeguarding their operations and reputation.
Insurance Firms: Managing Risk and Staying Compliant
The insurance industry manages risks tied to underwriting, claims, and regulatory compliance while avoiding exposure to fraudulent activities or reputational damage. Real-time data helps insurers with:
- Fraud Prevention: Insurance companies can use real-time adverse media monitoring to detect fraud in claims, enabling quicker investigations and prevention of fraudulent payouts.
- Claims and Underwriting: Access to timely information helps insurers better assess risks when underwriting policies and processing claims, leading to more accurate pricing and risk assessments.
- Regulatory Adherence: Insurers face strict compliance rules, particularly in regions with complex regulatory frameworks. Real-time data feeds provide instant access to regulatory updates, allowing insurers to adapt quickly and avoid fines.
Real-time data offers insurers peace of mind by enhancing fraud detection, improving underwriting accuracy, and ensuring compliance with evolving regulations.
Seamless Integration with Legacy Systems
Many financial institutions continue to rely on legacy systems that are difficult to overhaul, making solution integration a critical component of any dataset assessment. Without smooth integration, these systems may become inefficient, prone to errors, and unable to meet regulatory demands.
Opoint designs its real-time data to fit seamlessly into existing workflows through flexible APIs or intuitive dashboards. This means compliance teams can continue using their familiar platforms while benefiting from automated risk detection and continuous updates. By adapting quickly to new risks and regulatory changes, institutions can remain agile without needing major system overhauls.
Real-time data integration enables financial institutions to stay agile, compliant, and risk-aware without disrupting existing systems or workflows.
Tailored Solutions for Every Sector
No matter the industry, monitoring risks in real time and acting proactively is a significant advantage. Financial services, banks, and insurance firms benefit from real-time data by improving compliance workflows, staying ahead of risks, and operating more efficiently. In a world of increasing regulatory complexity, real-time data isn’t just a tool—it’s an essential component of a robust risk management strategy.
