The Underestimated
Data Completeness is Crucial for Your Compliance Efforts
Data is crucial to the modern economy Data is crucial to the modern economy, particularly when it comes to financial institutions (FIs). Their ability to store, access, and analyze massive amounts of data in an effective and efficient manner greatly adds to their competitive advantages. But data collection isn’t solely about that. FIs must also ensure that they are properly collecting and storing data in order to achieve regulatory compliance. Capturing and processing data to achieve “data completeness” means that they can show every action and its associated paperwork.
This blog covers the following topic: Data Completeness should be done in such a way that it is available at a moment’s notice, with zero margins for error. Severe fines for non-compliance Regulations vary, data requirements remain How do we solve that Data is one of the most valuable assets a modern business has at its disposal.
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