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Rcloud
A sustainable, forward-looking foundation for regulatory reporting
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Digital transformation, the global business landscape, and the post-2008 regulatory boom is forcing financial services institutions (FSIs) to invest more resources than ever to keep up with compliance. With more data, more locations, and more requirements to handle, FSIs must find ways to increase efficiency and optimize resources to minimize this increasing overhead from eating into revenue and competitive advantages.
Modernizing the regulatory reporting function via the cloud removes the burden of maintaining key infrastructure, allowing FSIs to find new efficiencies and to scale as businesses grow and change.
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As the number and complexity of financial regulations continue to rise, so too do the resources required for regulatory reporting.
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For regulators, moving to the cloud can sometimes seem risky. Will the cloud meet all risks, all legal and all compliance requirements? The answer is it must, and it does.
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In this Q&A, Regnology's Product Director Adriana Ellice-Flint unpacks the ECB's recently published report: “Complementary cost-benefit assessment of the IReF".
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