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Over the last decade, banks and other financial services firms have been facing an ever-growing number of regulatory requirements and consequent reporting obligations originating from various national and supranational regulators and supervisors. Higher complexity, frequency and variety of reports, with more demand for granularity, often creating data redundancies and inconsistencies, have forced banks to spend more on reporting duties at the expense of other areas of commercial activity.
In this regard, establishing a shared regulatory reporting utility, platform, or a hub, could be a potential solution also taking into consideration the emergence of new technologies. Key components of mutual regulatory reporting processes are related to raw data processing on a...
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