Source: Finance Magnates
Regulatory reporting is an important part of the financial industry, as it ensures compliance with rules and regulations and provides transparency to regulatory agencies. The previous manual methods used in regulatory reporting, on the other hand, were time-consuming, costly, and error-prone.
Regtech, or regulatory technology, is revolutionising this landscape by providing automation and standardising solutions. We will look at the future of regulatory reporting and the role of automation and standardisation in the Regtech business in this article.
Automation: Improving Efficiency and Streamlining Processes
Automation is transforming regulatory reporting, allowing financial companies to reduce their operations and considerably increase productivity. Regtech solutions automate data collection, aggregation, validation, and reporting tasks by leveraging modern technologies like as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP)…
Read full article: https://www.financemagnates.com/institutional-forex/regulation/the-future-of-regulatory-reporting-automation-and-standardization-in-regtech/
