You may be awash with data but have inadequate measures in place to prevent fraud and ensure regulatory compliance. There is an explosion in the types and volume of data available for consumption within business, this brings a new challenge: how do you organise multiple streams of data originating from numerous sources in a coherent and insightful manner?
This large and confusing amount of data can lead to unintended compliance oversights, it actually may increase the level of fine or penalty that your company is exposed to. In the simplest terms, you can no longer hide behind inefficiency or your inability to organise data in a coherent manner and expect regulators to view that state of affairs as a plausible defence.
You can improve your defences, embed compliance as a core competency, and withstand regulatory scrutiny, by replacing the mechanics of data management with technology designed to collate data and create robust analysis and relevant actions.
Are you adequately protected from fraudsters? Notwithstanding the uncompromising stance routinely adopted by today’s regulators, criminals count on companies lacking the ability to analyse data quickly. Better technology supports more accurate and timely analysis. In turn, that speed of action lessens the lead-time fraudsters have to steal funds or data.
Simplifying the data aggregation process frees up investigators to conduct robust analysis, and that’s what makes the difference between an effective approach and one destined for failure as well as regulatory criticism.
Contego's single-point solution helps customers to make sense of multiple data streams, to better protect them against compliance failures and defend brand reputation, and at the same time delivering operational efficiency.