As the burden of compliance increases, we consider the key challenges, the best responses, and how Artificial Intelligence can make it all so much easier.
Compliance fatigue is a real thing – and it’s a BIG thing. Firms have got to combat compliance fatigue, or they will never have the sort of culture the regulator aspires for them.
The unintended consequence of forcing employees through hours of refresher training on subjects that almost all of them will codify as important (but still none-the-less as: ‘boring’) has created a culture of negative predisposition to compliance, politely phrased as: “compliance fatigue”.
To compound matters, employees are also well aware that, in the majority of instances, one-size-fits-all refresher training only offers them marginal learning benefit.
Prevent compliance fatigue from derailing your Consumer Duty journey: