Prioritizing Innovation Today

A recent McKinsey survey of more than 200 organizations across various industries found that three-fourths believed that the fallout from the pandemic crisis will create significant new opportunities for growth in their industry, and the report shows that historically “companies that invest in innovation through a crisis outperform peers during the recovery.”

Most agree that technology and innovation are the keys to “unlocking post-crisis growth”, yet few feel equipped to pursue these new growth opportunities.

Of course, seeing the opportunities emerging from this crisis is not the same as being able to seize them. Fewer than 30 percent feel confident that they are prepared to address the changes they see coming.

Today’s regulatory environment is one that supports innovation within the financial industry. Regulators encourage financial organizations to rely on technology to effectively and efficiently execute a compliance program. FINRA’s newly formed Office of Financial Innovation is an example of this.

As a result, many organizations are taking this as an opportunity to implement new technologies to help streamline their compliance process.

Technology is going to help these financial firms navigate and optimize their compliance programs moving forward... BUT many firms do not know where to turn.

​Our comprehensive understanding of the challenges compliance and supervision department’s face, as well as our proven ability to help firms meet their regulatory obligations is why SiteQuest Compliance has become a trusted partner and solution provider.
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One of our customers stated that:

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"We needed to come up with a better way to review our advisors' activity on the web because we weren't confident our manual internet searches were identifying everything we needed to supervise. After looking at other solutions, we selected SiteQuest Compliance and their Eagle Eye product. Sitequest Compliance was very accommodating, working closely with us to meet our company's specific needs. We have found our searches to be much more robust now. SiteQuest Compliance continues to be a great partner and is very customer focused!"

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Let us show you how our compliance applications will help support and automate much of your supervision and policy requirements. See first-hand our applications at work. Contact us today for your personalized demo.

The subtitle of the referenced McKinsey report says it all: “Prioritizing innovation today is the key to unlocking post-crisis growth.” Progressive compliance leaders who are turning to innovative technology and automation to manage their ever increasing regulatory demands while protecting their organizations and their customers from risk will have a competitive advantage after the crisis.

Implementing the inventive applications from SiteQuest Compliance while automating much of your supervision requirements will help ensure a stronger and more trusted firm today, and for years to come.
 
 
Source: https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/innovation-in-a-crisis-why-it-is-more-critical-than-ever
 
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