In this episode of GRC & Me, Megan Phee, LogicGate’s Head of International Sales, speaks with Rob Fulcher, Head of Sales for the Americas at CUBE, about global standards issues. Rob discusses why we find ourselves in our current regulatory situation, how and where global standards can help, and how new technology is helping or hindering the future state of having regulatory standards.
Here are some of the highlights from their session on the need for global standards:
Since the 80s and 90s, the cycle of regulating, deregulating, and then reacting to it has traditionally been happening at a national level and did not have to consider globalization, technology, and the vastness of the current sector. Global standards can help lower the need to keep up with all disseminated information. Last year alone, 300 million pages of regulatory materials were produced! While there may never be true perfection, global standards can improve the sector and the overall working environment. A more standardized approach would significantly yield efficiency, visibility, and compliance for anti-money laundering, crypto, and ESG. Technology can help companies understand upfront what regulatory compliance requirements are needed for a new market instead of catching up later.
Interested in learning how to stay ahead of the game in regulatory compliance? If so, see how an AI and Machine Learning powered global RegTech provider like CUBE seamlessly integrates with Risk Cloud. And if you’re in the Boston area or in London, come and meet some of the CUBE team