Banking / WHITE PAPER
Reinventing Regulatory Reporting with Intelligent Innovations
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Banking / WHITE PAPER
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Technology-led innovation to transform regulatory reporting solutions
The complexities of existing disjointed regulatory data and technology infrastructure are a hindrance in achieving timely and accurate fulfillment of regulatory compliance, especially in areas of cross-border reporting challenges and obligations. Given the need for regulatory reporting transformation, banks have to build agile and resilient multi-jurisdictional regulatory reporting solutions using a robust data strategy, automation, and technology-led innovation. The key imperatives for banks in this aspect will be:
Embrace AI-led regulatory inventory and data processes to help drive agility in the data-sharing model
Ensure standardized, granular, and consistent data for multi-dimensional aggregation and focused analysis
Adopt straight-through processing (STP) of data
Implement timely report-fulfillment capabilities with a potential shift to on-demand reporting
Adopt flexible architecture to support different regulatory reporting approaches
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