Managing compliance information just got less expensive.
Large banks can spend more than $100 million each year on compliance with federal and state regulations. A 2007 Tower Group industry study found that "people-related" costs account for, on average, nearly two-thirds of a bank's regulatory compliance expenses. Recent research carried out by Fortent revealed that roughly one-third of this cost is earmarked for accumulating and disseminating the latest regulatory information and advising employees of the impact
Fortent Inform is a web-based tool for financial institutions that provides a centralized source of compliance information and analysis. Reducing the time and money spent on gathering, distributing, and tracking regulatory information, Fortent Inform allows firms to lower their overall compliance budgets and staff expenses.
See how Fortent Inform can save you up to 15% of your companies overall compliance costs.
Register to launch the Fortent Inform Calculator and run the numbers.