Can you learn from financial firm implementations?

Last week, we discussed the nature of compliance at financial services firms, particularly with respect to reference data. As a follow up, it's worth mentioning a Yankee Group survey that has found that large financial services firms are governed by at least a dozen regulatory measures, many of which have overlapping requirements. It can be bewildering--everything from Basel II and Sarbox down to a rule from the Federal Financial Institutions Examination Council, a federal interagency group, that has required a more secure customer log-in. The requirement carries a Dec. 31st deadline. Some companies must grapple with 30 or more audits a year, by partners, auditors and others. Given all this, the pace of automation seems a bit slow. Maybe that's just me. Some companies are moving fast. American Express, for example, has built more than 100 compliance-oriented applications with one tool.

For more on this:
- here's an article from Information Week