Source: Finance Magnates
Regulatory reporting is an important part of the financial industry since it ensures compliance with rules and regulations while also offering transparency to regulatory agencies. The previous manual methods involved in regulatory reporting, on the other hand, were time-consuming, costly, and prone to errors.
Regtech, or regulatory technology, is revolutionizing this landscape by providing automation and standardizing solutions. We will look at the future of regulatory reporting as well as the role of automation and standardization 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/
