Study reveals overspending on compliance

BreakPoint said the overspending was due to the absence of data standards to provide a foundation for risk management and financial transparency. If not addressed, the reactionary overspending and duplication of efforts on compliance would impede the financial services industry’s mergers or acquisitions, as well as overall growth of any kind.

The SOS for Financial Institutions: Stop Excessive Spending on Risk and Compliance white paper explains how a surprising lack of data integration and da