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In 2023, businesses worldwide will be on the lookout for potential risks and opportunities, with financial institutions being at the forefront. As technology continues to evolve, the risks associated with these advancements continue to grow and become more prevalent. While the financial industry is expected to experience substantial growth this year, challenges will also arise synchronously. Organisations must stay vigilant and aware of the leading threats for this upcoming year.

Always at the top of the list, cybercrime and fraud are a priority concern for financial institutions, with a predicted $340 billion loss by the year 2027 – making it vital for organisations to stay alert and protect themselves accordingly. While small and medium size organisations easily fall victim to these types of fraud, larger organisations, for the most part, invest adequately in the necessary technology and security – leading to an increase in the importance of RegTech providers and solutions offered in the ongoing fight against financial crime. It is becoming crucial across all organisations, regardless of size, to have effective systems in place.

eBOS provides state-of-the-art RegTech and Fintech solutions that automate risk and compliance management for organisations worldwide, offering efficient, effective, and progressive security standards. Our WiseBOS Suite is an advanced suite of solutions that supports organisations in simplifying and automating their internal procedures to boost performance and productivity while reducing expenses and adhering to respective laws and regulations.