Banks Use Targeted Applications to Keep Up with Regulatory Demands

There is probably no industry that has more financial regulatory reporting requirements than banks. Regulations in the banking industry have increased significantly since the financial crisis, and the cost and time resources associated with keeping in line with these rules have left many firms scrambling.

 

Fortunately, many regulatory reporting requirements are standardized making automation a realistic proposition. Requirements like FinRep and CoRep in Europe; or Dodd-Frank Act Stress Testing (DFAST) and Comprehensive Capital Analysis and Review (CCAR) in the US; require specific data feeds, calculations and report formats that can be predefined with built-in controls and validations.

 

At Tagetik we have developed pre-packaged applications to help banking and other industries automate the process of regulatory reporting so that the finance organizations can focus on strategic business issues rather than manual compliance reporting processes.

 

If you are a bank and have not yet automated your regulatory reporting you need to get moving. Watch how Erste Group, one of the largest banks in Europe, automated their Basel III, IFRS and FinRep and other reporting requirements at the corporate and local level.

 

Tagetik CPM Software

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