A-Team Insight Blogs

Understanding the Importance of an Integrated Regulatory, Data and Technology Strategy

Share article

By Bradley Foster, Global Head of Content (Enterprise), Bloomberg.

Regulation following the 2008 financial crisis has had a profound effect on banks and buy side firms. Banks in particular are now much better capitalized and more liquid compared to a decade ago. We have seen a wave of new investor protection and market transparency regulation such as MiFiD II that increased the confidence of investors. All of this significantly mitigates the risk of another run on banks due to a crisis of confidence. At the same time, new regulation and supervision may increase the cost of doing business and brings technology, infrastructure and data challenges. As market participants move towards implementation and regulations become more clear, banks must take a much more risk based, data-driven approach to determine how they prioritize and address regulation.

That means asking certain key questions such as, what has regulation done in terms of impacting the client/business mix? How has it affected your business? And how are you utilising data to meet your regulatory requirements?

Irrespective of regulation, data is at the heart of what firms need in order to operate effectively. But regulation can and does inform that evolution. Take FRTB, for example. This complex regulation requires firms to have consistency, alignment and data provenance across their front, middle and back offices – a big ask. So firms must now think about regulation in the context of their overall data management strategy if they are going to recognize the efficiencies that make them effective.

Underpinning a lot of this is data and technology, where technology is ultimately seen as an enabler. If you are going to solve any problem in a scalable manner then you need a data management strategy and technology solution to make that happen. We are moving ever closer to a world where machines are consuming more and more data – so from a vendor perspective, a data management strategy must be approached from the perspective of creating and providing high quality,, clean and tidy and more comprehensive data to clients. All of this should be delivered in a way that is easily consumable by both humans and machines. Regulation is not only driving data management strategy, it is transforming how customers use data.

To learn more, join us at RegTech Summit London on Thursday October 3, 2019 and hear Bradley speak live.

Leave a comment

Your email address will not be published. Required fields are marked *

*

Related content

WEBINAR

Recorded Webinar: Best Practices for Integrated Regulatory Reporting Across Multiple Jurisdictions

The regulatory reporting obligations of financial institutions have mushroomed in scale over the past decade, leaving firms facing a raft of different requirements to provide increasingly granular metrics on their transaction, valuation and collateral data to a number of regulatory authorities. While many of these reports draw from the same core data set, the nuanced differences...

BLOG

UK’s Investment Association Selects ipushpull for New FinTech Accelerator

Ipushpull, an enterprise platform allowing secure live data sharing and workflow automation, has been chosen by The Investment Association (IA) to be part of its latest FinTech hub, ‘IA Engine’. The programme connects FinTech innovators with investment managers to develop focused tech solutions. “We are delighted to be part of the IA’s unique programme driving...

EVENT

FRTB Briefing Virtual

The FRTB Briefing Virtual will examine key focus areas and priorities for banks in 2020 and offer guidance, advice and expertise for tackling the challenges and pain points around implementing the FRTB regulation.

GUIDE

Practical Applications of the Global LEI – Client On-Boarding and Beyond

The time for talking is over. The time for action is now. A bit melodramatic, perhaps, but given last month’s official launch of the global legal entity identifier (LEI) standard, practitioners are rolling up their sleeves and getting on with figuring out how to incorporate the new identifier into their customer and entity data infrastructures....