Compliance management can be a complex ecosystem
-
Astronomical compliance costs for global companies operating across the world
-
An ever-increasing regulatory scrutiny and burden of preparing reports
-
Regulatory compliance policies are changing by the second in a fast-paced digital world
Regulators demand a plethora of information at various granularities
-
Liquidity &
Capital Reporting -
Bank Return
Forms (BRFs) -
Credit Bureau
submissions -
International Financial
Intelligence / Rating bodies
Regulatory scrutiny has increased multi-fold since 2008, demanding organizations to re-think their data preparation & monitoring strategy
-
$300bn Fines paid by banks since 2008
-
48% Avg spending growth per annum on Regulatory Technology (RegTech)
-
$780bn Financial institutions spend annually on compliance
*Quoted by Bloomberg, Juniper, International Federation of Accountants
Ready. Steady. “SmartReg”
SmartReg, our cutting-edge regulatory product, offers pre-configured business rules, validations, and workflows that are bundled with a comprehensive data model. This proprietary solution provides out-of-the-box regulatory compliance for select regulators, delivering a sophisticated and streamlined approach to compliance management.
Challenges
-
Astronomical compliance costs for global companies operating across various region
-
Legacy systems and changing data landscape within the organization
-
An ever-increasing regulatory scrutiny
-
Heavy reliance on IT teams to meet the dynamic regulatory changes
-
Regulatory compliance policies evolving by the second in a fast-paced macro-economic environment
SmartReg Solution
-
Cloud ready & open-source technology with zero hidden costs with pre-built reports, reducing capex / opex spends
-
Distances submissions from source systems via a robust regulatory data model
-
Provides required data lineage, validations & reconciliations, versioning control, approvals, monitoring and archival features
-
Enable Business users with required self service & ad-hoc data extraction to meet majority of the changes
-
Push patches & changes at various levels to adapt to the ongoing regulatory needs + enable Ad-hoc data extraction
How SmartReg fits the bill for you
The SmartReg container is pre-built and ready to use for select Regulators
Request for Demo
Single Platform for all regulatory needs delivered through a robust data model
Pre-Configured Country / Regulator specific reports
Pre-built Validations, Monitoring & Oversight via Dashboards
Pass adjustments in a controlled manner with an end to end data lineage.
Scalable across regulators & geographies
In-built Data Profiling & Quality modules
Manages approvals / errors / rejections through a customizable workflow
First of a kind business friendly, Self-Service approach to regulatory reporting
SmartReg Bytes
- Data extraction from multiple source systems hosted within inprem / cloud databases or from existing data warehouse / data lake
- For data not present in source applications, a controlled upload mechanism is available with required validations and audit trails
- Additional report specific manual information can be captured using a dynamic template
- Proprietary Regulatory Data Mart inline with regulatory requirements
- Multiple datasets for each report are stored to facilitate aggregations, drill downs and auditability
- Validate and Cleanse based on rules. Metadata related to all report logics and derived variables are version controlled and stored as JSON
- Profile the input data to study patterns / outliers
- Configure Data Quality rules across standard dimensions and monitor results via dashboards
- Validate and cleanse based on business rules
- Track functional data checks like variance, reconciliations and validations within reports and across reports
- Report generation in the prescribed format, along with a multi level approval workflow
- Pass adjustments on the platform both at data asset level and report level
- Control dashboard for each report to track various controls like reconciliations, validations, variance analysis and capture comments / audit trail of all the approvers
- Reporting calendar, Alerts & Reminders
- Exception handling, Monitoring & Oversight dashboards
- Data Lineage from source to target, full traceability of business rules & logics
- Last mile integration to the regulator across all prescribed data formats
- Baselining / Archiving the reports submitted to the regulator
- Enable business users for an end-to-end self service
- Excel based report template configurator
- Drag-drop driven, GUI based report builder for non-technical user community
- Authentication & Authorization visa oAuth2 & SAML methodologies
- Role based access to various platform modules
- Data encryption and retrieval
- Audit trails and logging
Request for a demo
We appreciate your interest
Our team will contact you shortly to serve your request.