The regulatory reporting requirements are undergoing changes at a frenetic pace. At one hand, the changes being introduced to Risk Management and Accounting Standards have prompted financial institutions to undertake an overhaul of their Data Collection, Data Management and Data Reporting practices. On the other hand, the drive by regulators to accelerate technology adoption in regulatory data collection has necessitated financial institutions to upgrade their data and technology architectures. Understanding the gaps in the extant systems and processes and adopting the industry best practices, customised to align with the internal business strategies are critical for embarking on the right path for compliance and technology adoption. The Readiness Assessment and Data Gap Analysis services offered by Fintellix help financial institutions achieve this objective.
A Readiness Assessment engagement with Fintellix helps financial institutions in their preparation for transitioning into new reporting regimes. Fintellix assesses the current reporting methodology, identifies gaps with respect to the best practices and outlines short and long-term actions to improve Data Collection, Data Management and Data Reporting practices.
Fintellix provides this service for a reasonable fixed price with minimal impact on the resources of financial institutions
Financial institutions will have a greater understanding of regulatory reporting requirements and effectively complete the implementation.
Provide an overview of
the new reporting
reporting framework with
industry best practices
framework suited for
bank’s business strategy
framework and timeframe