Ever-changing Finance, Risk and Regulatory Reporting environment requires new approaches

Firms have been building solutions to address regulatory requirements using multiple legacy products, comprised of multiple technologies, overlapping but variant functionality and discrete independent data models. Such bespoke solutions provide sub-optimal performance, have a high TCO and create a tactical legacy that is costly to maintain.

Satisfying evolving regulatory demands is becoming a nearly impossible task for firms dominated by silos. This highlights the need for genuinely new design and implementation methods that facilitate the seamless integration of finance, risk and regulatory reporting functions.

Insights Magazine,Issue 14

The Covid-19 pandemic has undoubtedly impacted how we do business, but what does this mean for banks? In addition to the revised deadlines and requirements, there are more changes banks can still expect to face as a result of the pandemic.


For the second digital edition of our bi-annual Insights Magazine, we provide continued, in-depth coverage, on Basel IV. Some of the topics include implementation strategies by jurisdiction, prudential risk considerations, capital and liquidity planning, and confident deal-making when looking at merger targets. It also looks at banks’ challenges around risk exposure, especially during times of market uncertainty, and the importance of hedge accounting to effectively manage this process.

Implications of Basel IV on Business

Under the timetable set by the Basel Committee on Banking Supervision (BCBS), a five-year implementation period for Basel IV is due to begin on January 1, 2023. But how ready are banks to meet this deadline, and what are they seeing as their biggest challenges?

 

Access our new digital report "Implications of Basel IV on Business" to learn more.

OneSumX for Finance, Risk and Regulatory Reporting
OneSumX for Finance, Risk and Regulatory Reporting is a best-in-class integrated regulatory compliance and reporting solution suite that establishes a single source of data for finance, risk and regulatory reporting that is enriched with value-added content from our in-house experts. Our approach dramatically improves insight and analysis across the enterprise, providing the scalability needed to process large volumes of data required by new data-driven regulatory regimes, preserving data lineage at each.

A single version of the truth for informed decision-making


Our data architecture creates a structure on which firms can standardize their approach to managing regulatory data for finance, risk and other functions. The platform integrates data from multiple internal systems and external sources.

This can be used to analyze market, credit and liquidity risk, and for compliance purposes. The result is a consistent approach to data across the entire enterprise, providing our clients with the capability to make the link between finance, risk and regulatory reporting.

Limit exposure to regulatory change


Our unique Report Update Service (RUS) helps protect firms against future requirement and report changes over time. Our in-house experts monitor regulatory developments; ensuring clients are prepared for new or changing rules that impact them.

Our solutions are enriched with this value-added content which saves firms valuable time and resources when faced with increasingly complex and changing regulatory requirements.

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