Compliance

Governments are increasingly taking an interest in payments-related activities, in a bid to make financial services accessible to all, to protect individuals and their personal data, to promote economies based on e-commerce, to participate in global trade and to prevent international financial crime.

The vast quantity of legislation, guidelines and rules can be difficult to keep track of, particularly for institutions operating in multiple markets.  Add to this the quantity of rules issues by the major card schemes, which necessitate reconfiguration of systems and policies, and the job of managing compliance within the electronic payments environment becomes more onerous with every year that passes.

Organizations need systems that are easily adaptable to evolving regulations.  Management reporting has to be complete and consistent, to enable financial services providers to ensure that they remain in compliance with all relevant legislation.