I recently gave a webinar with Jan Purchase of LuxMagi on Agile and Cost Effective Financial Compliance (recording here) and thought I would highlight some of the key challenges in compliance: Scale, Transparency, Consistency, Agility and Effectiveness:
There are more and more regulations that involve an increasing number of rules to ensure compliance. Decision Management, and decision modeling, let you keep manage all these rules and all this complexity to ensure your solutions scale.
You need to ensure you are correctly implementing these regulations and be able to demonstrate it later. Business Rules and a Business Rules Management System (BRMS) deliver this and Decision Management is a proven framework for successfully implementing a BRMS.
Delivering compliance with a piece of regulation means making sure that multiple systems and multiple processes and compliant without having to change them all independently. Decision Management focuses on delivering shared decision services for maximum consistency across the enterprise.
Rapid and accurate change in response to changing court rulings and new regulations is critical. A BRMS give you the ability to make the change, Decision Management helps you understand where and how to make that change.
Compliance must be real-time and you need to be able to demonstrate business value from the systems you build. Decision Management ties your compliance efforts to your metrics and key performance indicators.
Compliance is increasingly important in financial services and other industries. To learn more about how Decision Management can deliver Agile and Cost Effective Financial Compliance, watch the recording of the webinar Jan and I gave here.