How Technology Can Simplify Banks' Workflow

Community bankers can count on two things to evolve: regulation and technology. Regtech, or emerging technologies that manage regulatory-compliant business practices, combines these two realities to offer practical solutions.

In this month’s issue of Independent Banker magazine, Kim Kirk, EVP, COO at Queensborough National Bank & Trust, Louisville, observes that the ability to automate repetitive tasks yields significant benefits. Working with Finosec, a regtech provider, Queensborough has automated the tracking of employee application permissions.

“We were doing all of our app monitoring on spreadsheets,” Kirk recalls. Before adapting regtech, Queensborough had been manually reviewing and comparing its reports. “[Regtech] has enabled us to get reports from each of the apps to identify any problems or discrepancies,” says Kirk. “We have a better control process and better outputs using the Finosec solutions.” Read article.