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Start Date

16-8-2018 12:00 AM

Description

Meeting compliance requirements in highly regulated business environments is imperative as companies face severe consequences if they fail. Compliance is particularly crucial in financial services as providers are frequently confronted with changes in regulations that financial advisors have to follow when providing investment advice. Deploying IT affordances is expected to assist in assuring compliance, and optimize the process of information management and retrieval. However, there is no research to date that substantiates this assumption from the employee perspective. We propose a conceptual model for assuring compliance derived from a case study conducted at a German savings bank. Our preliminary findings suggest that IT does indeed help employees in improving their compliance. More importantly, our research reveals compliance concerns such as the limited business intelligence of the current system, loss of flexibility in the advisory process, and uncovers the emerging conflict of interests between client, advisor and service provider.

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Aug 16th, 12:00 AM

More Than Meets the Eye: A Case Study on the Role of IT Affordances in Supporting Compliance

Meeting compliance requirements in highly regulated business environments is imperative as companies face severe consequences if they fail. Compliance is particularly crucial in financial services as providers are frequently confronted with changes in regulations that financial advisors have to follow when providing investment advice. Deploying IT affordances is expected to assist in assuring compliance, and optimize the process of information management and retrieval. However, there is no research to date that substantiates this assumption from the employee perspective. We propose a conceptual model for assuring compliance derived from a case study conducted at a German savings bank. Our preliminary findings suggest that IT does indeed help employees in improving their compliance. More importantly, our research reveals compliance concerns such as the limited business intelligence of the current system, loss of flexibility in the advisory process, and uncovers the emerging conflict of interests between client, advisor and service provider.