On continuous compliance
The Waters special report sponsored by Apama that was published recently, ranked “risk and compliance” as the number one application of event processing in financial institutions. Today TIBCO also published in its Blog under the “event processing” category its view on compliance – entitled: “The Y in comply“. It gives the view that people comply better when they understand the rationale of compliance, the example given is compliance with regulation in the food industry that employee has to wash hands before putting on gloves.
I agree that people comply better when they think that the regulation makes sense, however, my own subjective impression is that in the current culture, compliance became goal of its own whose sole reason as somebody described it “to get the regulator off my back”. Thus employees are required to do things that they don’t see any reasonable explanation why they should do it, and IT systems check that they are doing it. Here, event processing is used since in various cases auditing is event-driven, it is time sensitive an often involves calculation in time windows, and in some cases online auditing on the fly is required. The business value sometimes is just pleasing regulators, but this is often a great motivation for managements to take it very seriously… Anyway, technologies are used for strange reasons sometimes…
Read the original article on Event Processing Thinking