Simpler, faster, and repeatable regulatory reporting
Following the 2008 global financial crisis, financial services institutions have invested heavily to keep pace with the changing regulatory landscape.
Even well-resourced teams have been stretched thin trying to keep up with the evolving regulatory reporting requirements because of their dependencies on legacy technology and highly manual processes. At the same time, the velocity of regulatory changes for traditional areas like credit, liquidity, and capital continues to increase while the scope of regulation is also expanding to include newer risk types like climate risk and operational resiliency. The challenge of navigating the additional scope and complexity is compounded by increasing regulatory expectations for more granularity and consistency across all reporting.
Despite the substantial investments made by the industry over the years to address these challenges, current approaches to regulatory reporting are often still slow, expensive, and rife with data quality issues. This begs the question: How can chief financial officers...
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