We asked, you answered – and the results? Compliance officers are spending way too long testing way too few accounts.
Cable conducted a survey asking financial institutions what the biggest compliance challenges they face are. From spending days and even weeks on testing controls, to lack of comprehensive testing coverage, here are our 4 main findings based on the responses.
Even with the majority of respondents testing less than 25% of accounts (more on that in the next section), compliance teams are still spending a significant amount of time testing controls.
According our survey, the top 3 areas that take up the most manual time are:
That’s a lot of time people have to spend on testing compliance controls – for some, it can take up more than a full work week.
Luckily, there are tools that can automate the testing process and drastically cut down on manual labor needed.
Why spend days and weeks testing the efficacy of your controls when you can streamline the process with automation?
Cable’s regulatory compliance frameworks not only automates the testing process, it also tests controls in real-time. That way, you save valuable time on gathering and reviewing sample data, and can address any compliance issues, immediately.
The real kicker is that, even with all that manual time spent on compliance testing, 80% of respondents are still testing less than a quarter of their customer accounts, with over half of those respondents (52%) testing less than 10% of accounts.
Why is this not ideal?
Because 2025 is a bellwether for some major growth and change in the financial industry, especially for those in the fintech space – but core compliance and risk management concerns aren’t going anywhere. In fact, analysts believe that regulators expect financial institutions to “improve or sustain their risk management and controls.”
Anything less than 100% testing coverage means that you can’t know for sure if all your controls are working as they should – and that means you can’t be fully confident you’re growing safely and soundly.
Normally, 100% testing coverage would require a significant uptick in resources and manpower – which is neither affordable, nor sustainable.
But with Cable, financial companies can not only onboard more partners, faster, but they can automatically test 100% of their controls from Day 1, no matter how many you add.
Learn More: 100% Automated Compliance Testing Is the Only Way Banks and Fintechs Can Grow
82% of our survey respondents listed BSA/AML as one of the top 3 most time-consuming areas to test, with almost three-quarters of those (72%) naming it as their number one most time-consuming.
That’s not surprising considering that BSA and AML regulations are constantly changing, and the global financial industry is becoming increasingly interconnected thanks to digitization.
You want to be able to update your controls as soon as regulations change – and you want to know immediately whether they’re working.
Cable’s BSA/AML framework already tests for standard controls, but financial companies can also customize their controls and their tests based on their own exposure and risk appetite. Companies can add or remove controls at any point, without having to worry about lapses in testing coverage.
Cable also offers equivalent BSA frameworks for the U.K. (MLR), Ireland (CJA), and Bermuda. For more information, contact us here.
Along with BSA/AML, our survey respondents cited Reg E and UDAAP compliance as the most time-consuming areas to test – and it might become even more time-consuming.
Trump has indicated plans to scale back federal oversight of the financial industry and leave it to the states to regulate consumer protection, including UDAAP and Reg E compliance, that could lead to even greater regulatory patchwork.
Cable has launched a Reg E framework along with Reg B and Reg Z. Just like with our BSA/AML framework, it comes with a standard set of controls and tests, which companies can customize based on their needs.
For more information on all our regulatory frameworks, contact us here.
The 4 Biggest Compliance Challenges Financial Institutions Face
Cable Launches Groundbreaking Automated Control Testing Across Reg B, Reg E, and Reg Z
Why Banks Need to Automate Compliance Before Launching BaaSWe asked, you answered – and the results? Compliance officers are spending way too long testing way too few accounts.
Cable conducted a survey asking financial institutions what the biggest compliance challenges they face are. From spending days and even weeks on testing controls, to lack of comprehensive testing coverage, here are our 4 main findings based on the responses.
Even with the majority of respondents testing less than 25% of accounts (more on that in the next section), compliance teams are still spending a significant amount of time testing controls.
According our survey, the top 3 areas that take up the most manual time are:
That’s a lot of time people have to spend on testing compliance controls – for some, it can take up more than a full work week.
Luckily, there are tools that can automate the testing process and drastically cut down on manual labor needed.
Why spend days and weeks testing the efficacy of your controls when you can streamline the process with automation?
Cable’s regulatory compliance frameworks not only automates the testing process, it also tests controls in real-time. That way, you save valuable time on gathering and reviewing sample data, and can address any compliance issues, immediately.
The real kicker is that, even with all that manual time spent on compliance testing, 80% of respondents are still testing less than a quarter of their customer accounts, with over half of those respondents (52%) testing less than 10% of accounts.
Why is this not ideal?
Because 2025 is a bellwether for some major growth and change in the financial industry, especially for those in the fintech space – but core compliance and risk management concerns aren’t going anywhere. In fact, analysts believe that regulators expect financial institutions to “improve or sustain their risk management and controls.”
Anything less than 100% testing coverage means that you can’t know for sure if all your controls are working as they should – and that means you can’t be fully confident you’re growing safely and soundly.
Normally, 100% testing coverage would require a significant uptick in resources and manpower – which is neither affordable, nor sustainable.
But with Cable, financial companies can not only onboard more partners, faster, but they can automatically test 100% of their controls from Day 1, no matter how many you add.
Learn More: 100% Automated Compliance Testing Is the Only Way Banks and Fintechs Can Grow
82% of our survey respondents listed BSA/AML as one of the top 3 most time-consuming areas to test, with almost three-quarters of those (72%) naming it as their number one most time-consuming.
That’s not surprising considering that BSA and AML regulations are constantly changing, and the global financial industry is becoming increasingly interconnected thanks to digitization.
You want to be able to update your controls as soon as regulations change – and you want to know immediately whether they’re working.
Cable’s BSA/AML framework already tests for standard controls, but financial companies can also customize their controls and their tests based on their own exposure and risk appetite. Companies can add or remove controls at any point, without having to worry about lapses in testing coverage.
Cable also offers equivalent BSA frameworks for the U.K. (MLR), Ireland (CJA), and Bermuda. For more information, contact us here.
Along with BSA/AML, our survey respondents cited Reg E and UDAAP compliance as the most time-consuming areas to test – and it might become even more time-consuming.
Trump has indicated plans to scale back federal oversight of the financial industry and leave it to the states to regulate consumer protection, including UDAAP and Reg E compliance, that could lead to even greater regulatory patchwork.
Cable has launched a Reg E framework along with Reg B and Reg Z. Just like with our BSA/AML framework, it comes with a standard set of controls and tests, which companies can customize based on their needs.
For more information on all our regulatory frameworks, contact us here.
