Amid rising financial crime across the world, Accenture has recently launched a compliance-as-a-service (CaaS) which will help financial institutions, fintech and technology companies to combat financial crime. Accenture's new CaaS offering is cost-effective and comply with regulations.
"Accenture CaaS offering provides an end-to-end capability that leverages SynOps — Accenture’s human-machine operating 'engine' that synergizes data, applied intelligence, digital technologies and exceptional talent — to help financial institutions manage the scope and complexity of the ever-changing regulatory and compliance environment," said the company in a press release. It is designed to serve the compliance departments of banks, insurers, capital markets and other organisations.
The CaaS offering — which expands Accenture’s managed service capabilities — delivers a variety of comprehensive managed services, including Know Your Customer (KYC), Anti-Money Laundering (AML), compliance and controls testing, contract life-cycle management and privacy data management.
“Today’s compliance officers need to be agile and transform from reactive to strategic in an increasingly complex environment," said Bob Bradley, who leads the CaaS offering for Accenture Operations.
Steve Culp, a senior managing director at Accenture and head of the company’s Finance & Risk practice, said, “In addition to facing intense cost-pressure, compliance functions must also find talent with the full array of required skills needed to thrive in this new compliance environment, making technology-centered approaches essential."