Impact of Regulatory Compliance in Leveraging Mobile Solutions to Enterprises

Major corporations like retail, healthcare, insurance, banking and others have an evolving set of regulatory compliance guidelines which should never be breached by a human or a software application. But with times, mobility has become the integral part of these industries and care should be taken that this new technology will not have an adverse effect on the regulations.

Regulations framed for major corporations are fragile enough to be affected by the mobile technology solutions and care must be taken that these regulatory compliances should never be breached by the leveraged mobile solutions into the enterprise. The proliferation of the mobile devices especially the tablets and Smartphones have offered tremendous fortuity in terms of customer connectivity, financial transactions, remote healthcare services and mobile banking and regulatory compliance is framed to ensure data security and integrity in the industries that carry acute information about individuals like in case of hospitals, banks, insurance and others.

So when a mobile solution is under the making, there is a potential threat of the regulated data being carried into uncontrolled expanse. A mobile enterprise professional will be able to evaluate the data security regulations and will be able to relate those clauses that are specific to your business vertical. After analyzing this aspect, the consultant will be able to fish out those regulations that would pose a threat with respect to the mobile devices. Keeping the sensitive compliances as a parameter while framing a mobility solution would present the enterprise mobility partners with those challenges that would typically brainstorm the developers. However, in many cases the project will serve its purpose and the business client can carry on his ventures in terms of customer acquisition and other influencing business strategy.

Financial Institutes and Mobile Security:

Financial organizations like banks, insurance companies are all guided by a set of rules and regulations in terms of disclosing identity, passwords etc. The mobile experience in this niche should be in such a way that it can augment security to the transaction channel. Care must be taken that the deployed mobile application should be immune to phishing, SMS-phishing and any other security breaching malware threats. Any mobile development for a financial institution that is weak and buggy will have a negative impact on the business and the brand. This could also be punishable under law or the customers could impose fine on the firm. In order to keep the business model immune to these harsh effects, a proper mobile technology planning is required that would align the business perspective with the regulatory compliance.

Mobile health information technology:

Healthcare industry is obviously the most sensitive corporation when it comes to data management and security. This service industry has a lot of compliance imposing standards like HIPAA, FDA, HL7 and others. In order to keep up with the ever changing regulations of the healthcare system, mobile related improvements have to be constructed in a way that it compiles to the changing scenarios of the healthcare interoperability standards. This is the most challenging task for the mobility enterprise consultants as they have to keep up with the changing clauses and specifications in terms of technology.