Cappitech from S&P Global Market Intelligence’s Post

We are thrilled to announce the results of our recent Global Regulatory Reporting Survey 2024, now in its seventh year. The survey was conducted globally with the participation of over 70 respondents. The findings provide an assessment, delivering data and insights into how firms are preparing for and reacting to the changing regulatory reporting landscape. With almost 40% of respondents spending 10 hours per week resolving data quality issues, the insights are a valuable gauge of the industry's key trends and the challenges faced by market participants. Read our press release for more of the important findings. https://hubs.la/Q02-7mkC0 #regreporting #pressrelease #transactionreporting #tradereporting #fintech #regtech #compliance #sec #csa #hkma #emir #sftr #asic #researchresults #surveyresults #newstudyfinds

Just in time for the holidays! The results from our #Cappitech #RegulatoryReporting survey are out. S&P Global Market Intelligence's latest Cappitech Survey reveals that manual practices are a major barrier to high-quality data and efficient regulatory reporting. Key Findings: 40% of firms rely on manual processes, significantly impacting resources. Nearly 40% spend over 10 hours a week fixing data quality issues. Two-thirds are moving towards third-party solutions, reducing reliance on on-premise systems. 70% feel prepared for this year's regulatory changes. Download our press release via the link below!

Spread the word! It's hot off the press. Cappitech's 7th Global Regulatory Reporting Survey 2024. Read about some of the findings and download the survey for the full report.

📣 Exciting news from the Financial Conduct Authority! They have recently issued a brand-new Consultation Paper focusing on key areas including #TransactionMonitoring. 📈 The #FCA is taking proactive steps to guide firms in implementing and monitoring transaction monitoring systems. Embracing responsible innovation, they're encouraging the adoption of new approaches, including the use of Artificial Intelligence. 🤖 Transaction monitoring is a pivotal control for nearly all regulated firms, and we wholeheartedly welcome this strategic decision. 🎉 Key highlights from the Consultation paper: 🔹 Addressing poor software deployment while supporting innovative use of new technologies to enhance system effectiveness in detecting potential financial crime. 🔹 Introducing new self-assessment questions and examples to clarify expectations for setting triggers in automated systems. 🔹 Providing good practice guidance on controls for switching between automated monitoring systems and leveraging transaction alerts for continuous monitoring and risk assessment. 🔹 Emphasizing the importance of evaluating the effectiveness of monitoring systems, oversight, resource allocation, and expertise for effective screening. For more details and to access the Consultation Paper, visit: FCA Consultation Paper 📄 (Link in the comments) Stay informed and be proactive in enhancing your financial crime prevention measures with the DX Compliance Transactions Monitoring Platform! 💼 #RegulatoryUpdate #FinancialCrimePrevention #InnovationInFinance #aml #transactionsmonitoring

What are the types of activities firms are undertaking to comply with the Regulators expectations? Join us next month to find out! Filled with expert insights, this event will also focus on the EU’s Digital Operational Resilience Act “DORA” is in the final year of implementation with deadline for compliance of January 2025. All in person slots for this event are sold out, but you can still join us online; don't miss out, book now: https://lnkd.in/gUwsCNWN #financialservices #compliance #FCA #operationalresilience

For financial firms, regulatory reporting isn’t just a checklist item. With ever-evolving regulations, such as Basel 3.1, firms have a golden opportunity to turn compliance into a competitive edge. Here’s how: 1️⃣ Strengthen Controls Environment: Instead of layering more controls onto inefficient systems, firms should rethink and simplify their processes with a robust controls framework, aligning regulatory reporting with financial reporting standards. 2️⃣ Invest in Technology: Efficient tech and process re-engineering can reduce manual work, streamline data flows, and ensure agility in meeting future regulatory demands. 3️⃣ Build a Culture of Compliance: A proactive approach to regulatory control minimises compliance costs and risks, fostering long-term stability and trust. Read on for more: https://heyor.ca/Xy1j86 #RegulatoryReporting #FinancialCompliance #StrategicAdvantage

For financial firms, regulatory reporting isn’t just a checklist item. With ever-evolving regulations, such as Basel 3.1, firms have a golden opportunity to turn compliance into a competitive edge. Here’s how: 1️⃣ Strengthen Controls Environment: Instead of layering more controls onto inefficient systems, firms should rethink and simplify their processes with a robust controls framework, aligning regulatory reporting with financial reporting standards. 2️⃣ Invest in Technology: Efficient tech and process re-engineering can reduce manual work, streamline data flows, and ensure agility in meeting future regulatory demands. 3️⃣ Build a Culture of Compliance: A proactive approach to regulatory control minimises compliance costs and risks, fostering long-term stability and trust. Read on for more: https://heyor.ca/Xy1j86 #RegulatoryReporting #FinancialCompliance #StrategicAdvantage

RegTech is transforming compliance and regulatory reporting, helping financial institutions manage risk more effectively. . . . #RegTech #ComplianceInnovation #RiskManagement #RegulatoryTechnology #FinTech #FinancialCompliance #TechForGood #DigitalTransformation #RiskMitigation #FutureOfFinance

I had the pleasure of having dinner in #london up with Michael J. Stanton, Jeff Hilk, David Bliss of COMPLY. It was a valuable opportunity to hear about the strides they are making in the #financialservices sector and to discuss the evolving landscape of #compliance and #regtech. Comply supports financial services firms in navigating complex regulatory environments. Their suite of offerings addresses critical areas of compliance. By providing tools that help firms better manage compliance programs, streamline workflows, and enhance oversight. Comply is enabling financial institutions to be more proactive in identifying and mitigating compliance risks. We discussed how Comply is enhancing the effectiveness of surveillance and monitoring processes. By leveraging technology to detect potential misconduct and ensure adherence to internal policies, they are enabling firms to maintain greater integrity and accountability in their operations. It’s always insightful to see how solution providers like Comply are evolving to meet the demands of a rapidly changing industry. The conversation reinforced the growing importance of agility and foresight in compliance programs, especially as regulatory scrutiny increases. #GRC

Why is agility important in Compliance? 🚀 Agility in compliance is essential for financial institutions to swiftly adapt to evolving regulations and emerging risks. By embracing agility, organizations can ensure compliance, foster innovation, and gain a competitive edge. Maintaining trust and avoiding penalties are key benefits of staying agile in the ever-changing regulatory landscape. #Compliance #Agility #Innovation #FinancialInstitutions #Regulations