In The News

Enforcement doubled from prior quarter; change management up 41%

NEW HAVEN, Conn. – October 21, 2019.  Continuity’s Regulatory Operations Center® (ROC) has released the third quarter 2019 Banking Compliance Index (BCI), revealing a 41% increase in the overall level of effort required by financial institutions to keep up with regulatory change. Hours consumed in change efforts jumped 46% from the second quarter. When comparing this year to Q3 2018, effort is up 28%, and hours consumed by regulatory change management and implementations are a whopping 85% higher than this time last year. 

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Banks and credit unions must find ways to better manage compliance ahead of a busy year end.

NEW HAVEN, CT (October 30, 2018)  — The Banking Compliance IndexTM (BCI) remained steady in Q3 2018, after nearly doubling from Q1 2018 to Q2 2018. The spike in regulatory activity from earlier this year demonstrates the significant impact of regulatory relief bill S.2155, which contained over 50 separate regulatory changes. Even though regulatory relief has been promised, financial institutions still have not experienced any regulatory lift.  

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