• Skip to primary navigation
  • Skip to main content
  • Skip to footer
CUBE announces its acquisition of The HubCUBE announces its acquisition of The HubCUBE announces its acquisition of The Hub

CUBE global

  • Products
        • RegPlatform product overviewOur enterprise product, providing regulatory intelligence for large, global financial institutions looking to tackle complex compliance.
        • RegAssure product overviewOur highly intuitive, seamless compliance product, that grows with your small or medium sized business.
        • View all products
  • Solutions
        • PrivacyGlobal governance for data privacy regulations, the world over
        • RecordsHolistic oversight of ever-growing regulations for records
        • CybersecurityAutomated workflows for up to date, relevant data on cyber
        • Technology riskEffective policies and controls to mitigate technology risk
        • Financial crime and AMLWatertight audit trails to show risk-based rationale
        • View all solutions
  • Resources
        • Resource hubLifting the lid on financial services, compliance, and regulation
        • Read

        • Case Studies
        • Blog posts
        • Reports
        • Brochures
        • Find

        • Compliance Corner
        • Compliance confessions
        • ESG Conference
        • CUBE’s regulation game
        • Listen

        • Videos
        • Webinars
        • Podcasts
  • Partners
        • Advisory and consulting partnersEnhance your regulatory compliance offering with the entire suite of CUBE regulatory data.
        • Integration partnersCompliance is complex enough without over-complicated integration procedures.
        • Technology partnersAdd value to existing customer applications with a unified window into regulatory intelligence.
        • Partners overview
  • About us
        • About usThe story of who we are, how we got here and why we’re exceptionally proud of what we do
        • TeamThe visionaries and leaders powering CUBE’s success
        • NewsThe latest news from CUBE
        • CareersOur movement to transform regulatory data into regulatory intelligence
        • ContactWant to know more? Get in touch
  • Request a demo
Customer login
Home » Resources » Global Regulatory Compliance: Common Problems and Transformative Solutions

June 15, 2022 | Ali Abbas

Estimated reading time: 4 minutes

Global Regulatory Compliance: Common Problems and Transformative Solutions

This article was first published by LogicGate, a partner of CUBE.

Multinational organizations, and those on the path to becoming one, face seemingly insurmountable challenges in navigating regulations facing their business from every country in which they operate. 

Shifting political and societal landscapes, endless new or revised regulations, and industry adoption of new technologies all contribute to the difficulty of managing global regulatory compliance. 

Yet, considering that organizations lose an average of US$4 million in revenue due to a single, isolated non-compliance event, compliance must be a priority — not an afterthought.

How can multinational companies manage global compliance? It’s a complex problem, but regulatory compliance software has emerged as a powerful solution. Sometimes called RegTech, this emerging technology allows companies to stay ahead of regulatory changes — rather than waiting to fail an audit to discover a new regulation. 

In this article, we will explore the common challenges multinational organizations face and how they can better manage global regulatory compliance. We’ll also explore our new partnership with RegTech company CUBE and how its technology will enhance our services.

The Challenges of Global Regulatory Compliance

Global companies across nearly every industry have similar challenges in their efforts to comply with global and federal regulatory obligations. Common challenges include: 

The rapid adoption of new technologies: New technologies such as AI, IoT, and machine learning bring both reward and risk to the compliance space. Regulatory agencies work fast to tackle the emerging risks posed by these technologies, which means new regulations for your compliance teams to manage. For example, the widespread adoption of cloud computing resulted in cybersecurity regulations and guidelines for third-party risk assessments.

New or revised regulations are announced every day: Most countries will have an agency regulating one or more aspects of your business. These agencies announce new and revised regulations as they’re enacted, not on your schedule. So it’s your organization’s job to stay on top of every change and react to it accordingly. 

Ever-changing political landscapes: Changes in leadership and dominant political parties often mean a change in the government’s stance on regulations regarding your industry. For example, a new President of the United States often means new heads of specific agencies, and those new leaders will have their agendas and viewpoints. 

Of course, the examples above are only a few of the regulatory challenges that arise for businesses looking to operate across multiple countries. Therefore, organizations must be aware of every regulation they currently face, every regulation they may face in the future, and enact policies that allow them to remain compliant. 

Despite the increasingly globalized nature of financial services, there continues to be very little worldwide regulatory harmonization. As CUBE’s Rob Fulcher recently discussed on our podcast, not enough has been done to coordinate regulatory agencies internationally. So how can organizations overcome disjointed regulatory changes and accomplish compliance?

How to Better Manage Global Regulatory Compliance

The emerging field of regulatory software or RegTech, is becoming increasingly crucial to multinational organizations. 

RegTech aims to help organizations remain compliant by automating much of the manual and labor-intensive processes for regulatory change. RegTech platforms are constantly updated with new data from global regulatory agencies. Companies can then respond with new or updated policies to remain compliant. 

The regulatory compliance team remains invaluable for the critical thinking behind regulatory change. However, instead of spending their time combing through agencies’ websites, the team can focus on assessing the applicability of obligations, and revising or creating policies to react to regulatory changes. Not only will this require less time lost to time-consuming manual tasks, but it’s also a better use of the specialized workforce your company is employing. 

LogicGate and CUBE: A Partnership for Improved Global Compliance

LogicGate is known for innovative solutions, ranging from data privacy to compliance management. LogicGate is always looking to improve its services, which is why they’re excited about the partnership with CUBE to enhance its multinational compliance offering. 

About CUBE

CUBE is a RegTech provider that transforms global regulatory data into actionable regulatory intelligence. Financial organizations then leverage this intelligence to make meaningful policy changes without needing to manually comb through dense policy reports from regulatory agencies.

How CUBE and LogicGate Work Together

LogicGate and CUBE have teamed up to open up regulatory compliance intelligence to more organizations with a multinational presence beyond the financial sector. This integration is built to bring CUBE’s robust compliance intelligence directly into LogicGate’s Risk Cloud platform.

How Does This Partnership Benefit LogicGate and CUBE Customers?

So, how do current and future customers benefit from this new partnership? Some notable benefits include:

  • Effectively manage compliance across multiple business lines, locations, 
  • See all global regulatory data translated into English, removing the need for third-party translation
  • Reduce the time and resources spent on manual processes
  • Transform the role of regulatory technology to become a necessary cornerstone of multinational organizations
  • Create a worldwide, holistic view of regulations facing our customers’ industries
  • Avoid fines, penalties, and security vulnerabilities that accompany non-compliance

Find out more

CUBE simplifies compliance for regulated companies of all shapes and sizes.

Speak to the team
Related resources
View all articles
UK to regulate crypto
Blogs

Crypto Country? UK joins the EU in crypto regulation

cryptocurrency and global financial inclusion
Blogs

How will embracing cryptocurrency bring global financial inclusion?

Bitcoin is a popular cryptocurrency
Blogs

Cryptocurrency and ESG: the contradictions and complexities

Nikhil Rathis calls for regulatory cooperation from UK and US
Blogs

US & UK cooperation for regulation “vital”


Want CUBE updates and latest industry news sent straight to your inbox?

Footer

Add CUBE logo here

  • Products
    • Partners
    • Solutions
  • Resource hub
    • Blogs
    • Reports
    • Brochures
    • Compliance Corner
    • Webinars
    • Podcasts
    • Videos
  • Behind CUBE
    • About us
    • Meet the team
    • Careers
    • News US
    • Contact us
  • The legal bits
    • Privacy policy
    • Cookie policy
    • Terms of use
    • Accessibility
Follow us:
  • LinkedIn
  • Twitter
  • YouTube

© 2023 CUBE Content Governance Global Limited

  • US
  • English