070 - Why Manual Reviews are Time Bombs

<p><span style="font-weight: 400;">Despite the fact that many people within organizations believe that doing more manual reviews is the magic bullet that will make their compliance team more efficient, this couldn’t be further from the truth. Tune in today to hear why! </span></p> <p><span style="font-weight: 400;">If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies!</span> <span style= "font-weight: 400;">If you are on Apple, just </span><a href= "https://podcasts.apple.com/ch/podcast/compliance-that-makes-sense/id1535160531"><strong>click here to review</strong></a><span style="font-weight: 400;">, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. </span></p> <p> </p> <p><strong>Today's episode:</strong></p> <p><span style="font-weight: 400;">[00:48] What many of my clients get wrong about compliance tools. </span></p> <p><span style="font-weight: 400;">[02:26] The point when people usually decide that they want more staff members in their organization to do more manual reviews. </span></p> <p><span style="font-weight: 400;">[04:19] Why I believe that manual reviews are time bombs. </span></p> <p><span style="font-weight: 400;">[05:29] A big reason why people so often make mistakes with manual reviews. </span></p> <p><span style="font-weight: 400;">[06:16] Two big challenges that the financial industry struggles with. </span></p> <p><span style="font-weight: 400;">[07:34] Examples of cases that do require people to do manual reviews. </span></p> <p><span style="font-weight: 400;">[09:11] Why it is not a good idea to assign engineers to resolve issues with compliance tools.</span></p> <p><span style="font-weight: 400;">[10:24] How to eliminate redundant manual processes within your organization.</span></p> <p><span style="font-weight: 400;">[11:38] A com