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By: Steven Brenner and Shannon Klabnik
In the world of banking, the ability to track the movement of funds into systems has always been a top priority. While computers have exponentially increased tracking and monitoring capabilities, the digital world has also introduced a great deal of additional complexity into the banking system. Increasingly, banks of all sizes are beginning to understand that technical advancements have only increased the need to introduce a correspondingly powerful in-house financial management framework.
This need is now becoming more urgent in today’s regulatory environment. With the contours of the technology landscape changing rapidly, and with security being a bigger concern than ever before, the legislative environment within the industry is constantly evolving to keep up with new technical and operational mandates. As a result, regulatory compliance poses a significant challenge for administrators and decision-makers at banks and financial institutions, and optimizing processes for governance, risk and compliance is more important than ever.For many banks, leading edge financial management software solutions are the answer. When implemented correctly and utilized optimally, such solutions can play a vital role in managing the inherent complexities of modern-day banking, mitigating risk of noncompliance, realizing new process efficiencies and fueling organizational growth.
Read the entire article here.
If you have any questions about the benefits of utilizing an ERP financial management solution for your financial institution, please don’t hesitate to contact MIPRO, or reach out to Shannon or Steve directly.