Managing a Changing
Regulatory Landscape
The current pace of regulatory change
calls for cutting-edge technology that
allows global companies to quickly
adapt to new requirements.
Addressing IT requirements is essential to an efficient
identity verification program, but not all companies
have those capabilities. In one study, a third of financial
services firms report they have reasonable systems
but need upgrades for regulatory technology and
fintech solutions, while 16% have no confidence in their
IT infrastructure.
New regulations change how companies verify
identity. Maybe it’s new documentation, different
reporting requirements, watchlist screening or greater
assurance based on new liability. Whatever the need,
companies with a global presence face challenges
keeping up with new compliance requirements without
losing time in market.
Intuitive, integrated technology that allows companies
to adjust verification workflows to match the needs
of a new market in real time can overcome those
challenges. If a regulatory body changes compliance
requirements, the right verification platform can
quickly adjust.
A modular verification platform is designed to respond
to new needs. Whatever the regulatory change, a
unified, flexible identity platform can keep financial
services companies compliant anywhere in the world.
Regulatory Spotlight:
FINTRAC
The Financial Transactions and Reports
Analysis Centre of Canada (FINTRAC)
continues to fight money laundering
and terrorist financing with expanded
requirements such as those around business
and ultimate beneficial owner verification
FINTRAC targeted Oct. 1, 2025, to
implement a requirement that companies
report to Corporations Canada any material
discrepancies they notice between their
records and a corporation’s beneficial
ownership registry filings when there is
high risk
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Trulioo — White Paper