_ Current regulatory reporting relies on internal siloed data sources and is characterized by complex, rulebased models for transaction monitoring, legacy systems, and manual processes, and lack of effective information exchange across departments. _ Current systems and processes are unable to meet the frequent and accurate reporting requirements as expected by regulators.
Goals and Objectives
Deploy systems and processes enabled by digital technologies to achieve the following in regulatory reporting: simple automated activities, enterprisewide data sharing around compliance, proactive risk mitigation advice, deep data and market analysis, and compliance dashboards. Partner with regtechs to empower the journey to digitally transform the reporting functions.
Advanced analytics, Cloud-enabled regulation as a service solutions, Cognitive capabilities (AI and machine learning, natural language processing)
Use Case Summary
Invest in intelligent regulatory reporting tools and processes to consolidate, analyze, model, and report based on large volumes of diverse internal and external data sources to meet regulatory and compliance obligations more accurately and effectively.