Year-ender 2023: How compliance sector featured this year? Check experts' outlook for 2024

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ALSO READ: RBI imposes monetary penalty on five co-operative banks. Details here Some even turned to experts for guidance and that is how training on compliance gained momentum in 2023.

On being asked how has 2023 been, concerning companies embracing compliance training, compliance learning solutions company Rainmaker's CEO Antony Alex said that this year marked a shift in how companies approach compliance training within their employee outreach mandate, including for 'Culture of Compliance' workshops. "There was increased flexibility in training methodologies, with organizations readily embracing both remote and hybrid models.

This adaptability not only enhanced accessibility but also underscored recognition of the evolving nature of training needs within the workforce,' he said. TeamLease RegTech's CEO Rishi Agrawal said 2023 saw a greater organizational focus on compliance, emphasizing that continuous training is key to ensuring employees are aware of their roles, responsibilities, and desirable behaviors around compliance.

However, Connect & Heal's CPO Bulbul Ray Nathan elaborated that firms in 2023 invested in bite-sized, on-the-go learning modules with audio and visual content, encouraging longer retention and catering to the preferences of modern learners. Nathan included that this adaptability enhanced workplace safety, minimized risks, and ultimately maximized the productivity of firms and employees.

ALSO READ: How Regulations Squeezed Investment into Gift City Taking lessons from the mistakes is of utmost importance, especially in the compliance or regulatory sector. On the issue of how 2024 would be, Rainmaker's Antony Alex anticipates a dynamic landscape with organizations increasingly embracing cutting-edge