The fad over regtech is actual. In response to rising buyer calls for, rising monetary crime threats, and makes an attempt by regulatory our bodies to handle each of those developments, the sector of regulatory compliance has by no means been extra topical in monetary companies.
To this finish, we interviewed banking and monetary companies compliance veteran Tracy Moore. Director of Thought Management & Regulatory Affairs at Fenergo, Moore joins the Finovate weblog to offer her perspective on the regulatory surroundings for banks, fintechs, and monetary companies firms in 2025.
As a part of Finovate’s commemoration of Girls’s Historical past Month, we additionally focus on problems with gender range in banking and monetary companies, and the function of mentorship in serving to foster future leaders within the business.
Are you able to inform us a bit of about your self and the work you do at Fenergo?
Tracy Moore: I started my profession in company authorized coaching, specializing in finance and treasury transactions. My journey took me to Europe, the place I transitioned into banking, spending a lot of my profession in authorized and compliance roles at international monetary establishments. Upon returning to the U.S., I continued this path at a super-regional financial institution, gaining in depth expertise in regulatory compliance and monetary crime danger administration.
Immediately, I function the Director of Thought Management & Regulatory Affairs at Fenergo, the worldwide chief in Shopper Lifecycle Administration (CLM) know-how for monetary establishments. On this function, I deal with monetary crime danger administration, regulatory change, and digital transformation, serving to establishments remedy for complicated regulatory environments whereas enhancing operational effectivity.
I’m deeply captivated with influencing business change and driving technological developments that make the monetary sector safer and extra resilient. My work includes collaborating with international regulators, monetary establishments, and know-how suppliers to develop revolutionary options that defend the business in opposition to monetary crime. I assist join regulation and know-how to form the way forward for compliance and danger administration in at present’s monetary panorama.
What’s it in regards to the subject of banking compliance that you just discover most fascinating professionally?
Moore: I discover it fascinating how geopolitical occasions form the worldwide monetary business, influencing not simply regulatory frameworks but in addition presenting new challenges, corresponding to monetary crime and evolving danger landscapes. Immediately’s financial system is so interconnected, and which means that monetary establishments should consistently shift to deal with challenges corresponding to sanctions, rising threats, and evolving compliance necessities.
What really pursuits me is the fragile stability monetary establishments should strike assembly regulatory expectations, staying forward of more and more refined dangerous actors, driving income progress, and guaranteeing protected monetary companies for his or her shoppers. Attaining this stability requires a mix of strategic foresight, innovation, and collaboration throughout the business. On a regular basis has a brand new perspective and new challenges.
How has banking compliance modified over the course of your profession within the business?
Moore: Trying again over the previous 25 years, the evolution of banking compliance has been nothing wanting dramatic. Once I began my profession, compliance was typically seen as a back-office operate, extra about checking bins than driving change. Quick ahead to at present, and compliance has develop into a core pillar of monetary establishments, shaping every little thing from danger administration to buyer expertise.
One of many largest shifts in fact has been know-how developments. Alongside this, the sheer tempo and complexity of regulatory change. Occasions like 9/11, the 2008 monetary disaster, and main geopolitical shifts have utterly reshaped the regulatory panorama. We’ve moved from extra localized, paper-based processes to a hyper-digital, data-driven, and globally interconnected method to compliance.
As a lady on this business, I’ve additionally witnessed the rising function of numerous management in compliance and danger administration. The sphere has advanced past conventional authorized and audit backgrounds to welcome technologists, information analysts, and strategic thinkers, lots of whom are girls bringing recent views to a traditionally male-dominated house.
Points (and innovation) in banking compliance have by no means been extra prime of thoughts. How have we arrived at this level, and is it a very good factor for banks and their clients?
Moore: We’re right here as a result of the stakes have by no means been greater. Over the previous 20 years, a mixture of monetary crises, evolving threats, digital disruption, and geopolitical shifts has pushed compliance to the forefront. Regulators have responded with more and more complicated expectations, bringing the function of compliance into strategic planning for monetary establishments.
This strain has fuelled innovation.
AI, automation, and information analytics are remodeling compliance, decreasing guide processes, bettering danger detection, and enhancing the client experiences. Banks at the moment are capable of onboard shoppers quicker, monitor exercise in actual time, and anticipate threats earlier than they escalate.
For banks, it’s each a problem and a chance. Compliance is more durable than ever, however those that embrace know-how can acquire a aggressive edge. And for purchasers stronger compliance means higher safety, smoother transactions, and extra belief within the system.
Seeing this shift firsthand is what lead me to make the choice to go away the normal compliance function in banking and be part of Fenergo as a result of I knew know-how could be the driving pressure behind the way forward for compliance, and I wished to be a part of this transformation.
How do AI and automation create new compliance challenges for banks? In what methods can corporations use these applied sciences to deal with compliance points?
Moore: AI and automation can streamline compliance, however additionally they elevate considerations each from regulators and banks themselves. Many establishments are skeptical, worrying about black-box decision-making, regulatory scrutiny, and potential biases.
The important thing problem is explainability. Regulators want to know how AI-driven choices are made, so corporations should prioritize transparency, clear documentation, and powerful oversight.
That stated, when used responsibly, AI can improve danger detection, automate guide duties, and enhance compliance effectivity. The answer lies in communication by working with regulators to make sure AI fashions are interpretable, auditable, and aligned with compliance requirements.
What areas of banking compliance do you assume deserve extra consideration than they’re getting?
Moore: Rising digital property and international regulatory alignment are two areas that want much more consideration in banking compliance. The speedy rise of crypto, tokenization, and digital funds has outpaced regulatory frameworks, leaving monetary establishments in a tricky spot. How do you innovate whereas staying compliant in an surroundings the place the foundations are nonetheless being written? With out clear, constant tips, banks are hesitant to completely interact, creating uncertainty for the whole business.
On the similar time, jurisdictional variations make compliance extremely burdensome in at present’s international financial system. Monetary crime doesn’t cease at borders, however laws do, forcing banks to navigate a patchwork of necessities that decelerate operations and improve prices. Extra international alignment and collaboration between regulators might ease this burden, guaranteeing that compliance is each efficient and sensible in a world the place cash strikes quicker than ever.
And lastly, the evolving nature of monetary crime. Criminals are getting extra refined, utilizing every little thing from deepfake identities to crypto mixing companies to evade detection. Compliance applications want to maneuver past conventional rule-based approaches and embrace real-time, predictive intelligence to remain forward.
What are your ideas on the progress made—or not made—towards better gender range in banking in recent times? Are you optimistic about the way forward for girls in banking, significantly in areas like compliance?
Moore: Girls in banking, particularly in compliance, have made progress, however not practically sufficient. Too typically, range is ignored as a enterprise benefit as a substitute of acknowledged for the worth it brings. In at present’s geopolitical and monetary surroundings, organizations want numerous views to navigate danger and drive innovation, but these views are nonetheless dismissed.
Regardless of this, I’m optimistic. Girls are good, resilient, and protracted. We proceed to show our experience in methods that can’t be ignored. Compliance is an space the place girls thrive as a result of it calls for strategic pondering, problem-solving, and management below strain.
Actual change will occur when firms transfer past surface-level efforts and embrace range as a aggressive benefit. Girls will hold breaking boundaries, whether or not the business is prepared or not.
Mentorship can play a key function in serving to girls coming into monetary companies or launching fintechs. Did mentorship play a big function in your early profession? What message would you give to banking and monetary companies professionals in the case of sharing their insights and expertise as mentors?
Moore: Mentorship has been invaluable in my profession. I’ve all the time sought out mentors and sponsors—each women and men—who might information my improvement and problem me to develop. Past that, I’ve chosen a private board of administrators: feminine skilled leaders throughout varied industries who’ve offered perception, assist, and perspective at each stage of my journey.
For these in banking and monetary companies, mentorship is extra than simply giving recommendation or sharing a espresso. It’s about opening doorways, advocating for expertise, and sharing actual, sincere experiences. The subsequent technology of feminine leaders is watching and studying. It’s as much as us to verify they really feel supported, empowered, and able to step ahead.
Picture by Scott Webb
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