The cost of regulatory reporting: Unlocking success for the IReF implementation

The Integrated Reporting Framework (IReF), an initiative by the European Central Bank (ECB), has a clear objective: to streamline banks’ statistical reporting processes across the Eurozone. This initiative will merge several reports into one and ensure complementary practices among national central banks.

Under IReF, banks would provide the ECB with more granular data, and the ECB (along with the central banks) would then have complete independence to develop the relevant statistical indicators.

Regnology is more than prepared for the shift to granular data reporting, with a proven non-redundant, granular-sourced data model developed over 25 years. Our IReF-specific solution addresses key implementation challenges, ensuring data availability and quality, standing up granular data workflows and increasing speed and volume of data processing.

Leveraging our expertise in RegTech and SupTech along with a unique perspective from working with both regulators and the regulated, Regnology is built for a future of regulatory reporting that is defined by granular data. One key feature of our platform is powerful data visualization – data dictionaries, models and processing logic all enable automation and simplification for data transformation, report generation and distribution, enabling financial institutions to respond faster to new requirements. 

Our cloud-based architecture enables nearly endless scale and ease of interfacing, so users can work with granular data directly on their screens. Our robust suite of data management tools facilitate easy processing and effective validation checks and correction mechanisms throughout the reporting lifecycle, helping to manage larger volumes.