Latest news with #EMEA-based
Finextra
2 days ago
- Business
- Finextra
A third of EMEA-based firms are already using AI for compliance
A third of EMEA firms are already using AI in compliance, and 71.4% plan to introduce it in the next year – with EMEA firms also much less likely to ban communications like WhatsApp for business use 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Global Relay, a leading provider of end-to-end compliance solutions for highly regulated industries, has shared the findings of its third annual report into the major compliance challenges facing financial firms. Based on insights from hundreds of compliance and surveillance professionals worldwide, the Industry Insights: Compliant Communications Report 2025 leverages this data to track key compliance trends, with findings including: A third of EMEA-based firms are already using AI for compliance – and for those that aren't yet, 71.4% intend to introduce it in the next year, compared to only 43.7% of North American firms Just 31.7% of EMEA-based respondents think that banning certain communications channels is an effective compliance solution, compared to the 50.6% of NA respondents who believe they work EMEA-based firms are much more likely to enable and monitor all communications channels, with over half (52.4%) of firms doing so compared to just 31.2% of NA firms There has been a considerable drop in respondents struggling to get staff to stick to compliance policies, down to just 29.5% compared to 61.5% in 2023 EMEA-based firms are leading the way with AI adoption for compliance use cases, coming as little surprise given that the EU AI Act provides a world-first regulatory guardrail for AI development. Coupled with the Financial Conduct Authority (FCA)'s recent commitments to support AI innovation, the U.K. and Europe are presenting firms with a permissive environment when it comes to AI. 'Recent technological advances in AI are moving the needle quickly when it comes to adoption, although AI is still generally perceived as difficult, expensive, and only marginally effective for risk detection use cases,' explains Don McElligott, Vice President, Compliance Supervision, Global Relay. 'It will be very interesting to see if adoption numbers increase as organizations realize the value and availability of effective AI solutions.' Given the tempo of regulatory enforcements and punitive fines for off-channel communications over the last four years in the U.S., it's unsurprising that NA firms are taking a more cautious approach to communications compliance and are more likely to believe that banning channels is an effective solution that eliminates potential risk and avoids regulatory scrutiny entirely. 'It's very interesting to see that a surprisingly high number of firms are enabling the use of communications channels like WhatsApp, as conventional wisdom suggests the majority prohibit it,' says Rob Mason, Director, Regulatory Intelligence at Global Relay. 'Since our 2023 report, we have seen the dial shift away from channel bans and towards communicating compliantly throughout the finance industry, and firms, their employees, and even regulators will no doubt continue to see the benefits of a more permissive, collaborative compliance environment.' The Industry Insights: Compliant Communication Report series provides an annual snapshot of the changing face of compliance, combining insight from industry professionals and compliance experts for a data-driven overview of how compliance challenges are evolving, and how the industry is responding.
Business Wire
3 days ago
- Business
- Business Wire
U.S. Firms Are More Hesitant to Adopt AI for Compliance Than EMEA Counterparts, Report Finds
NEW YORK--(BUSINESS WIRE)-- Global Relay, a leading provider of end-to-end compliance solutions for highly regulated industries, has shared the findings of its third annual report into the major compliance challenges facing financial firms. Based on insights from hundreds of compliance and surveillance professionals worldwide, the Industry Insights: Compliant Communications Report 2025 leverages this data to track key compliance trends, with findings including: 56.3% of North American (NA) respondents have no plans to introduce AI into compliance workflows in the next year – a stark contrast to the 71.4% of EMEA respondents who intend to 50.6% of NA firms agree that banning communications channels, like WhatsApp and WeChat, is an effective compliance solution – but just 31.7% of EMEA-based firms agree We may be witnessing a tipping point, with a near 20% drop in firms electing to ban channels since 2023 – and an increase in firms enabling and monitoring channels of over 28% in the last two years There has been a considerable drop in respondents struggling to get staff to stick to compliance policies, down to just 29.5% compared to 61.5% in 2023 The hesitancy around AI adoption from NA respondents underlines the complex questions raised by these technologies. While regulatory guardrails like the EU AI act may be emboldening EMEA-based firms, clear cut messaging from North American regulatory bodies has been slower to materialize. Recent shifts from the Securities and Exchange Commission (SEC) towards a 'technology-neutral' and pro-innovation stance on AI may pave the way for an upswing in AI adoption by NA firms. 'Recent technological advances in AI are moving the needle quickly when it comes to adoption, although AI is still generally perceived as difficult, expensive, and only marginally effective for risk detection use cases,' explains Don McElligott, Vice President, Compliance Supervision, Global Relay. 'It will be very interesting to see if adoption numbers increase as organizations realize the value and availability of effective AI solutions.' Recent changes in the senior leadership of U.S. regulators and subsequent shifts in focus have left the compliance community asking questions, and the report findings paint a picture of an industry at an inflection point. After four years of the SEC's 'War on WhatsApp,' and punitive fines for off-channel communications lapses, North American firms seem understandably cautious, favoring channel bans over compliant communications solutions – but the tide may be turning. 'Considering the size of off-channel communications fines firms have been hit with over recent years, weighed against the cost to enable and capture channels, leveraging compliance solutions feels like a quick, cost-effective win,' says Ryan Sheridan, Senior Manager, Regulatory Intelligence, Global Relay. 'Having no clear plan in place, or channel bans staff simply won't stick to, is incredibly hard to defend should regulators uncover noncompliance. The technologies are there, they are proven, and they are a small price to pay for peace of mind compared to the alternative.' The Industry Insights: Compliant Communication Report series provides an annual snapshot of the changing face of compliance, combining insight from industry professionals and compliance experts for a data-driven overview of how compliance challenges are evolving, and how the industry is responding. Global Relay is a leading provider of end-to-end compliance solutions for the global financial sector and other highly regulated industries. Founded in 1999, Global Relay delivers services to over 20,000 customers in 90 countries, including 22 of the top 25 banks. From the Global Relay App for compliant communications, through to intelligent archiving, superior data connectors, and proactive surveillance, Global Relay's integrated compliance solutions enable regulated organizations to meet collaboration, privacy, and security requirements.
Korea Herald
15-05-2025
- Business
- Korea Herald
Forrester Opens Nominations For Its 2025 B2B Awards In APAC And EMEA
Awards honor B2B organizations that drive revenue growth through effective alignment of marketing, sales, and product strategies SINGAPORE, May 15, 2025 /PRNewswire/ -- Forrester (Nasdaq: FORR) today opened calls for nominations for its 2025 B2B Return On Integration Honors and B2B Programs Of The Year Awards in Asia Pacific (APAC) and Europe, Middle East, and Africa (EMEA). These awards will recognize B2B organizations based in both regions for achieving functional excellence and outstanding alignment across marketing, sales, and product — the B2B revenue engine — to improve customer experience and drive growth. Nominations for both award categories are open to organizations of all sizes in each region. B2B leaders across APAC and EMEA — including chief marketing officers, chief sales officers, chief product officers, and other marketing, sales, and product leaders — are invited and encouraged to apply. To be eligible, programs need to be developed by leaders and teams based in the APAC or EMEA regions. The nomination criteria for the two awards are as follows: "Forrester's B2B Awards highlight organizations that exemplify strong cross-functional alignment across marketing, sales, and product functions," said Paul Ferron, VP and research director at Forrester. "We're looking forward to recognizing APAC- and EMEA-based organizations that understand that achieving alignment is not just a strategic advantage; it's a necessity for delivering unmatched customer experiences and navigating dynamic buyer expectations." APAC Companies based in APAC can visit here to review complete award nomination criteria and submit an entry. The deadline to submit a nomination for these awards is August 14, 2025. Recipients of the B2B Awards in APAC will be recognized at Forrester's B2B Summit APAC, being held in Singapore and digitally, November 6, 2025. EMEA Companies based in EMEA can visit here to review complete award nomination criteria and submit an entry. The deadline to submit a nomination for these awards is July 14, 2025. Recipients of the B2B Awards in EMEA will be recognized at Forrester's B2B Summit EMEA, being held in London and digitally, October 6–8, 2025. About Forrester Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We empower leaders in technology, customer experience, digital, marketing, sales, and product functions to be bold at work and accelerate growth through customer obsession. Our unique research and continuous guidance model helps executives and their teams achieve their initiatives and outcomes faster and with confidence. To learn more, visit
