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Compliance and Risk Advisory
Challenges faced by Banks
Banks in India, face ever increasing regulations, not just from the main Banking Regulator, but more than 25 other Quasi Regulators, Self Regulatory Authorities, Other Authorities and Government Entities, that affect their entire value chain.
That apart, banks also need to abide by ever increasing new statutory provisions alongside hundreds of archaic central / state laws, related rules and regulations.
It is not just the multiplicity of regulators, regulations, and statutory provisions, but the complexities that arise out of unclear, or at times, divergent regulations from multiple regulators, and frequent piecemeal changes in these regulations.
In addition to the above challenges, ever increasing penalties getting levied from multiple regulators for non compliance of one or other instruction are becoming a cause for concern. Last 5 years have witnessed a whopping penalty exceeding Rs. 370 million on the banking industry alone, leave aside the entire BFSI sector.
That apart, banks also need to abide by ever increasing new statutory provisions alongside hundreds of archaic central / state laws, related rules and regulations.
It is not just the multiplicity of regulators, regulations, and statutory provisions, but the complexities that arise out of unclear, or at times, divergent regulations from multiple regulators, and frequent piecemeal changes in these regulations.
In addition to the above challenges, ever increasing penalties getting levied from multiple regulators for non compliance of one or other instruction are becoming a cause for concern. Last 5 years have witnessed a whopping penalty exceeding Rs. 370 million on the banking industry alone, leave aside the entire BFSI sector.
Where does APCORE fit in…
Team APCORE, supported by its Group Company (Alpha Plus Technologies Pvt. Ltd.), specializes in Compliance
Arena for almost three decades with a strong library of work.
Scripting Unique, Innovative and Bank/Group specific Business Oriented Compliance Strategies & Policies.
Identifying Compliance Risk areas and fine-tuning control mechanisms as well as banking policies and processes.
Providing unique Compliance Manuals, updated on real-time basis, dispensing with the need for the banks to draft their own Compliance Manuals and keep them up-to-date.
Providing own proprietary cost-effective suite of Compliance Management software products used in most banks.
Providing most unique and ‘the one and only’ comprehensive repository of regulatory instructions, updated on real-time basis, which provides the knowledge at fingertips to the Compliance functionaries to enable them to discharge their role, and to all the employees enabling them to be familiar with regulatory requirements.
Mapping its proprietary and most unique up to date repository, comprising of 2,000+ Regulatory and Statutory Compliance Obligations with the respective functions in the banks.
Undertaking Compliance Function Performance Audits to improve compliance effectiveness and ensure robust Compliance Function in banks.
