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banks & tech

Discussion in 'New Markets' started by seneca2015, Oct 11, 2015.

  1. seneca2015

    seneca2015 Newbie

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    Banks and technology.

    Interesting study rescued by Juan Antonio Falcon Blasco

    Put out that statement and watch share
    prices fall, incur the wrath of all your regulators,
    and prepare to set aside even higher capital buffers
    to compensate for now-suspect risk calculations.
    Institutions providing unsatisfactory regulatory
    capital reports may be subject to constraints to
    capital activities, even in situations where reported
    capital meets required minimum standards.
    This is just one example of the direct cost of inadequate
    risk and regulatory reporting processes.
    This institution may have revealed its error, but there
    are certainly other reporting errors that have gone
    undisclosed or even undetected. There is just too
    much data to analyze and too many calculations
    to report to expect perfection, particularly given
    the current state of data management and the data
    reconciliation that is required to ensure trusted
    data sources. Legacy core systems were developed
    when batch processing was state of the art and
    regulators were more patient. Your staff members
    are doing the best they can to manage today?s
    expectations with yesterday?s technology.
    Banks know that this can?t continue. They also
    recognize that a clean start ? from core system
    replacement to new general ledger and then Big
    Data solutions ? is the best way to improve risk
    management and more efficiently comply with
    regulatory requirements. It should come as no
    surprise that enterprise risk reporting and a more
    integrated approach to risk and finance is a priority
    for more than 90% of banks.Banks and technology.

    Interesting study rescued by Juan Antonio Falcon Blasco

    Put out that statement and watch share
    prices fall, incur the wrath of all your regulators,
    and prepare to set aside even higher capital buffers
    to compensate for now-suspect risk calculations.
    Institutions providing unsatisfactory regulatory
    capital reports may be subject to constraints to
    capital activities, even in situations where reported
    capital meets required minimum standards.
    This is just one example of the direct cost of inadequate
    risk and regulatory reporting processes.
    This institution may have revealed its error, but there
    are certainly other reporting errors that have gone
    undisclosed or even undetected. There is just too
    much data to analyze and too many calculations
    to report to expect perfection, particularly given
    the current state of data management and the data
    reconciliation that is required to ensure trusted
    data sources. Legacy core systems were developed
    when batch processing was state of the art and
    regulators were more patient. Your staff members
    are doing the best they can to manage today?s
    expectations with yesterday?s technology.
    Banks know that this can?t continue. They also
    recognize that a clean start ? from core system
    replacement to new general ledger and then Big
    Data solutions ? is the best way to improve risk
    management and more efficiently comply with
    regulatory requirements. It should come as no
    surprise that enterprise risk reporting and a more
    integrated approach to risk and finance is a priority
    for more than 90% of banks.
     
  2. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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