/ / INSIGHTS

How can Innovation Benefit the CFO?

Authored by: Ted Rees, Sr. Director, Synechron

How can Innovation Benefit the CFO?
The financial services industry is facing an increasingly more complex risk environment. Data is being generated more rapidly than ever before and has become one of a business’ most valuable assets. As the range of possible risk and the complexity of these risks are steadily increasing, the focus on compliance has also increased to try to properly manage these. The rollout of several global and regional financial regulations recently, and many more coming soon, has led CFOs to seek more innovative solutions. Fortunately, many emerging technologies are now sufficiently evolved to help address these regulatory and risk challenges.

For finance, treasury and risk functions in particular, regulatory technologies, or RegTech solutions, can be deployed to give more control to firms in how they manage their businesses and the associated risks. RegTech solutions are being used to help these firms process large data volumes, especially given the nature of complex, cross-jurisdictional and inter-related calculations. As CFOs, Treasurers and Risk Managers look to new technologies to help better manage their evolving roles, analytics, blockchain and user experience (UX) design can be especially helpful.

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