45% of firms in the financial services sector prioritize automated evidence collection and document management for enhancing audit readiness and control visibility.

42% of U.S. financial services executives identified staying current with evolving regulations as their top compliance challenge.

91% of organizations say their cloud infrastructure provides the flexibility to adapt to new regulations.

53% of CFOs in the financial services sector ranked evolving regulations as a top concern, compared to 38% of CIOs, highlighting a disconnect between financial and technical teams.

51% of firms identified data discovery as a top priority for improving audit readiness and control visibility.

36% of U.S. financial services executives reported lacking sufficient internal expertise to meet regulatory mandates.

51% said the public cloud was best positioned to meet regulations vs 41% that responded on-premises.

38% of very large companies (10000+ employees) are concerned with compliance with regulations.

38% of large companies (500-9999 employees) are concerned with compliance with regulations.

31% of small companies (<100 employees) are concerned with compliance with regulations.

35% of medium companies (100-499 employees) are concerned with compliance with regulations.

37% of security professionals fear AI-related regulations are a financial penalty waiting to happen.

96% of organisations say it’s challenging to keep up with the growing number of industry regulations.

More than 76% of chief information security officers (CISOs) at the World Economic Forum’s Annual Meeting on Cybersecurity in 2024 reported that fragmentation of regulations across jurisdictions greatly affects their organisations’ ability to maintain compliance.