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.
