Compliance Challenges
A focus for many companies, Governance, Risk, and Compliance (GRC), came about in the early 2000s after many highly publicized corporate financial disasters, which resulted in enterprises and regulators scrambling to improve their internal control and governance processes. Today, financial Institutions are faced with increasing complexity in regulatory compliance as evidenced by nearly $270B spent by financial institutions on compliance cost in addition to the $320B fines paid in the last 10 years.