“Platformized” approach towards Regulatory Compliance

With the advancement of Fintech, financial services market has undergone a massive change with newer products, newer integrations, newer partnerships, and newer operating models. Globally, even the regulators are retorting to the changing paradigm with newer guidelines, newer frameworks and even adopting newer technologies. Globally, we see an increased regulatory burden on the regulated entities and more information sought by the regulators to keep a watch on the industry
In such dynamic environment, financial institutions need to choose the right regulatory reporting technology, that not only helps comply with the current mandates but is nimble enough to cater to future requirements. Our “platformized” approach towards regulatory reporting makes the solution low code with focus on end user enablement and can be configured / re-configured based on newer reporting requirements, making ongoing change management an extremely user-friendly activity. 

Features

Security

Data Integration & Lineage

Consolidate and load data from multiple sources and identify lineage to the lowest granularity

Recovery and Continuity

Data Quality

Define data quality rules and validate against configurable thresholds, identify trends and ensure data robustness. 


 

Scalability

Data Augmentation

UI based granular data level augmentation for any missing data, incorrect data identified as part of data quality rules or data unavailable in source systems


 

Location

Business Mappings

Mapping business codes to the regulatory reporting taxonomy through UI empowers business users to manage and maintain such definitions on an ongoing basis

Location

Business Rules

A step-by-step process to manage all business logic applicable across multiple reports, reducing the overhead of maintain various versions of such logic


 

Location

Checks & Validations

Robust report level validation engine to maintain user-defined inter and intra report validations

Location

Archival & Version Control

Version controller for reporting forms with the ability to archive and access older versions


 

Location

Request Processor

Re-run previously generated reports within a few clicks

Location

Drill Downs

Drill-down reported fields to underlying accounts for tracing errors and mismatches.

Location

Collaboration

Review Process Flow (RPF) engine to easily create unlimited number of user-defined workflows with any number of approval levels.


 

Location

Audit and Documentation

Upload and maintain related documents and audit trails available for various user actions.

Highlights of the Solution

Flexible Methodology

Flexibility

Configurable Regulatory Mapping Interface enables users to maintain multiple configurations in the solution through the UI. Users have completed control on values reported to regulators. A complete front end driven platform empowers business users to define, maintain and monitor the business logic for regulatory reports on an ongoing basis

Lays Foundation for CECL

Scalability

Connectivity to a variety of data sources, ranging from relational databases to unstructured information sources, enables capturing data at the lowest level of granularity. Our approach keeps the data ingestion layer flexible and reusable, with only small incremental mappings required for every new regulation / solution

Lays Foundation for CECL

Standardization

Configurable regulatory taxonomies and underlying business rules enable quick implementation with minimum change effort. Taxonomies common across multiple reports are defined centrally to attain standardization across reports. Even internal processes for report generation and validation can be centrally controlled and monitored

Lays Foundation for CECL

Automation

The primary goal of technology for regulatory reporting is to automate the process of reporting. Every step process of current reporting from data ingestion to final report submission can be automated on the same platform. A well defined process on the platform not only reduces the overheads of the users but also increases the accuracy of reporting to regulators