The fashion 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 sphere 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 supply her perspective on the regulatory setting for banks, fintechs, and monetary companies corporations in 2025.
As a part of Finovate’s commemoration of Ladies’s Historical past Month, we additionally focus on problems with gender variety in banking and monetary companies, and the position of mentorship in serving to foster future leaders within the business.
Are you able to inform us somewhat 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 world monetary establishments. Upon returning to the U.S., I continued this path at a super-regional financial institution, gaining intensive expertise in regulatory compliance and monetary crime threat administration.
At this time, I function the Director of Thought Management & Regulatory Affairs at Fenergo, the worldwide chief in Consumer Lifecycle Administration (CLM) know-how for monetary establishments. On this position, I give attention to monetary crime threat 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 world regulators, monetary establishments, and know-how suppliers to develop progressive options that shield the business in opposition to monetary crime. I assist join regulation and know-how to form the way forward for compliance and threat administration in immediately’s monetary panorama.
What’s it concerning the discipline of banking compliance that you simply discover most attention-grabbing professionally?
Moore: I discover it fascinating how geopolitical occasions form the worldwide monetary business, influencing not simply regulatory frameworks but additionally presenting new challenges, similar to monetary crime and evolving threat landscapes. At this time’s financial system is so interconnected, and which means monetary establishments should consistently shift to handle challenges similar to sanctions, rising threats, and evolving compliance necessities.
What really pursuits me is the fragile steadiness monetary establishments should strike assembly regulatory expectations, staying forward of more and more subtle unhealthy actors, driving income development, and guaranteeing protected monetary companies for his or her shoppers. Attaining this steadiness 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: Wanting again over the previous 25 years, the evolution of banking compliance has been nothing in need of dramatic. After I began my profession, compliance was typically seen as a back-office operate, extra about checking packing containers than driving change. Quick ahead to immediately, and compliance has grow to be a core pillar of monetary establishments, shaping all the things from threat administration to buyer expertise.
One of many largest shifts after all 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 strategy to compliance.
As a lady on this business, I’ve additionally witnessed the rising position of various management in compliance and threat administration. The sphere has advanced past conventional authorized and audit backgrounds to welcome technologists, knowledge analysts, and strategic thinkers, a lot of whom are girls bringing recent views to a traditionally male-dominated area.
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 great factor for banks and their prospects?
Moore: We’re right here as a result of the stakes have by no means been greater. Over the previous twenty 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 position of compliance into strategic planning for monetary establishments.
This stress has fuelled innovation.
AI, automation, and knowledge analytics are reworking compliance, decreasing guide processes, enhancing threat detection, and enhancing the shopper experiences. Banks are actually 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 harder than ever, however those that embrace know-how can achieve 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 standard compliance position in banking and be part of Fenergo as a result of I knew know-how can be the driving pressure behind the way forward for compliance, and I needed to be a part of this transformation.
How do AI and automation create new compliance challenges for banks? In what methods can companies use these applied sciences to handle compliance points?
Moore: AI and automation can streamline compliance, however in addition 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 selections are made, so companies should prioritize transparency, clear documentation, and robust oversight.
That mentioned, when used responsibly, AI can improve threat 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 suppose deserve extra consideration than they’re getting?
Moore: Rising digital belongings and world 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 troublesome spot. How do you innovate whereas staying compliant in an setting the place the principles are nonetheless being written? With out clear, constant pointers, banks are hesitant to completely have interaction, creating uncertainty for your entire business.
On the similar time, jurisdictional variations make compliance extremely burdensome in immediately’s world 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 world alignment and collaboration between regulators may 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 subtle, utilizing all the things from deepfake identities to crypto mixing companies to evade detection. Compliance packages 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 higher gender variety in banking in recent times? Are you optimistic about the way forward for girls in banking, significantly in areas like compliance?
Moore: Ladies in banking, particularly in compliance, have made progress, however not almost sufficient. Too typically, variety is missed as a enterprise benefit as a substitute of acknowledged for the worth it brings. In immediately’s geopolitical and monetary setting, organizations want various views to navigate threat and drive innovation, but these views are nonetheless dismissed.
Regardless of this, I’m optimistic. Ladies are sensible, resilient, and chronic. We proceed to show our experience in methods that can not be ignored. Compliance is an space the place girls thrive as a result of it calls for strategic considering, problem-solving, and management below stress.
Actual change will occur when corporations transfer past surface-level efforts and embrace variety as a aggressive benefit. Ladies will hold breaking boundaries, whether or not the business is prepared or not.
Mentorship can play a key position in serving to girls getting into monetary companies or launching fintechs. Did mentorship play a big position 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 at all times sought out mentors and sponsors—each women and men—who may information my growth and problem me to develop. Past that, I’ve chosen a private board of administrators: feminine skilled leaders throughout varied industries who’ve supplied 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 era 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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