For OXIAL, the concept of supervised compliance is one that really resonates with our business model and the way that organisations should operate in 2018. The idea of working with a technology firm to automate controls and processes around compliance, supported by informed consultants who know the legislation inside out, feels like a smart way to approach compliance. This is especially so in sectors such as banking and financial services (FS) where there is more compliance and regulation than ever before.
However, as with many phrases within business and technology, interpretations as to the precise meaning of ‘supervised compliance’ can vary. We caught up recently with EY’s EMEIA Financial Services Partner Pierre Pourquery who leads the Control and Compliance solution for Europe. Pierre knows as much as anyone about FS compliance and he explained the importance of supervised compliance for banks and why many banks are doomed if they do not embrace wider digital transformation projects.
