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.