Financial services firms are changing rapidly. According to a report from IDC, regulatory changes, tax reform, and geopolitical issues are all tectonic plates moving underneath the financial services industry. While financial services firms must adjust quickly to this ever-changing reality, one issue that remains steady is the importance of maintaining compliance and mitigating fraud risks.
Although most fraud is accidental – due to employees rushing through administrative tasks, making numerical mistakes, or misunderstanding expense policies – it still costs your organization money and can cause reputational damage. And, unfortunately, there is no magic formula to rid the burden of fraud and noncompliance.
While humans can’t catch it all, the right T&E automation technology can. Download this tip sheet to uncover key challenges faced by the Financial Services industry, including why fraud is in the spotlight, tips to help stop fraud before it starts, and how technology can help mitigate fraud risks.