Compliance Hub

Customer
Compliance Hub
IT Provider
-
Year of project completion
2023
Project timeline
November, 2022 - December, 2023
Project scope
8766 man-hours
Goals
  1. popularization of due diligence in various organizations, through the implementation and development of compliance systems, regardless of the type of activity of the organizations, to improve business safety and efficiency;
  2. development of innovative areas of compliance;
  3. dissemination of practical and theoretical knowledge, qualifications and skills for compliance departments and specialists of all levels;
  4. development of competencies and conduct of training programs and other events (conferences, seminars, webinars, master classes, mentoring programs) aimed at developing specialists in the field of compliance;
  5. promoting ethical behavior in business and society as a whole in the field of compliance;
  6. formation, development, strengthening, improvement, inspiration, prosperity and maintenance of a professional community (community), taking into account new technologies and innovations in the field of compliance), consolidation, expansion, training, introduction to innovative solutions and advanced training of specialists and experts involved in compliance issues : anti-corruption compliance, securities market compliance, business ethics, anti-money laundering, anti-corruption, anti-financial crime, environmental, social and corporate governance (hereinafter referred to as ESG), personal data protection, sanctions compliance, crypto-compliance and related areas;
  7. Impact for IT companies & Fintech companies.
Please kindly notice that "Compliance hub" project has no end date.
Project Results
The members of our hub regularly participate in sessions related to digitization, compliance, data protection, AML/CFT, and more. Additionally, we promote a culture of compliance for everyone through social networks by sharing news, reminders, and articles that are beneficial to all.

The uniqueness of the project

Industry-Specific Compliance: Compliance Hub adeptly addresses the specific compliance requirements of certain industries, ensuring that companies adhere to industry-specific regulations and standards.

Regulatory Knowledge: hub keeps companies and individuals informed about the latest industry regulations and standards, offering timely updates and advanced tools for managing compliance.

Reporting and Analytics: Its advanced reporting and analytics capabilities provide valuable insights into the compliance performance and effectiveness of companies and individuals as well.

Global Reach: Compliance Hub is designed to handle global compliance standards and regulations, making it an ideal choice for companies with international presence and individuals all around the world.

Support and Resources: Dedicated support and resources are readily available to assist companies and individuals.

Used software
Social media
Difficulty of implementation
Budgeting:

Creating and maintaining a compliance hub requires a significant financial investment. Budgeting is challenging, as determining the costs for development, implementation, training, and ongoing maintenance is essential. Balancing resources effectively is also crucial to ensure that the project remains within budget.

Long-term financing is another challenge. Compliance hubs need continuous funding for updates and adaptations.

Lack of Useful Content:

Content is a critical component of a compliance hub, housing policies, procedures, and documentation necessary for regulatory compliance.


Project Description
The compliance hub brings together specialists in compliance, anti-money laundering and counter-terrorism financing and related areas who work in various industries, companies and countries. We create conditions for discussing best practices and trends in the field of compliance, communication and expanding professional networks
Project geography
International
The winners of the Project of the Year 2023 competition are IT leaders from India, Malaysia, Turkey, Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Iraq and Brazil. 

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