“We see some trends coming up, both in the Netherlands and abroad. One of them is closely related to the complexity of regulations, but also the complexity of structures within institutions to manage risks and can be summarized as 'the need for standardization’. We notice that incredibly complex structures are being set up within institutions to comply and report. To give an example surrounding the theme of AML and CTF regulation (which often comes up). Structures are set up to identify and manage risk, create transparency and report on it effectively. But when new regulations, for example sustainability, come in, are we then going to create similar new structures? And the following regulations after that? Of course, all institutions have their own Compliance frameworks and tooling and have the goal to integrate as much as possible, but how they are used is often slightly different because regulations are different, and the regulator is also often slightly different. To make it even more complex you also have an international context that institutions are often exposed to and eventually you end up with a structure where that is not efficient and (even worse) not effective. Standardization within Compliance is therefore no longer an “nice to have”, but a necessity to manage Compliance effectively and efficiently.”