As regulators focus more on risk data aggregation, and compliance requirements (such as BCBS 239) become ever-more burdensome, many banks are being forced to review their operating model and find solutions for deeply entrenched silo systems.
Luckily, new “RegTech” technologies are emerging to ease the burden of compliance.
The benefits of these systems can go well beyond satisfying the regulator’s compliance changes and improving the speed and accuracy of response to ad hoc requests for information. RegTech has the potential to reduce expenditure of human time and effort, not only in day-to-day operations, but also in adapting to future regulatory changes. It can improve collaboration, enable better decision making via more cogent and actionable information, and ultimately create a more agile and competitive business.
Download this complimentary whitepaper to explore the benefits of RegTech, and discover why this new technology is being embraced by many banks and regulators alike.
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