The future of digital regulation is coming, and with it even greater expectations around data integration between financial services firms and regulatory agencies for real-time reporting, lower costs, and greater transparency.
Digitally-empowered regulators are now out in front of the RegTech agenda with some already working towards “quantitative regulation” where machine-readable regulation is applied to firms in an automated manner. The end-game is a fully automated digital interface between regulator and firm that enables regulatory data straight-through processing, or RegSTP. With the volume and complexity of regulatory mandates and actions continuing to grow, financial services firms and regulatory agencies will struggle to keep up without significant improvement in data integration capabilities.
A MarkLogic Data Hub for digital regulatory compliance provides you the agility needed to not only meet current reporting obligations but also more effectively address future data integration requirements associated with digital regulation.
With the growing digitization of regulations, the importance of integration and governance rises as you need more context around data to drive decision-making and responsiveness for compliance. Instead of point solutions, think about integrating your data onto a single platform that lets you “see” across your silos.