Consumer demand continues to drive rapid innovation and change within the payments industry, raising numerous regulatory compliance challenges, considerations, and opportunities for existing and emerging payments providers. Marketplace challenges, including the COVID-19 event, threaten to further disrupt traditional channels, shaping an environment where innovative solutions become standard and regulatory compliance requirements are amplified.
Our analysis focuses on how to proactively and strategically integrate compliance safeguards to facilitate seamless compliance risk management in a scalable manner as technology continues to innovate and transaction volume increases, consumer demand evolves, and disruptive events emerge. This paper contains insights on likely shifts within the payments regulatory environment and provides key takeaways to help inform a proactive approach to mitigate evolving risks and identify compliance opportunities and synergies.
It's an interesting time to be involved in payments compliance, and we hope the insights in this discussion paper help to stimulate a level of innovation in compliance risk management that has thus far been largely focused on operational advancements in technology.