Author Archives: Prakash Jalihal

You are here:

Why is Regulatory Reporting Tough?

pexels-photo

‘Regulatory reporting’ is the submission of raw or summary data needed by regulators to evaluate a bank’s operations and its overall health, thereby determining the status of compliance with applicable regulatory provisions. Governments across the world give prime importance to keep their banking systems updated. This has proved to be an important task, more so after the…

Scope of Data Integration

FeatureImg1

Data[1] integration involves combining data residing in different sources and providing users with a unified view of data. This process becomes significant in a variety of situations, which include both commercial (when two similar companies need to merge their databases) and scientific (combining research results from different bioinformatics repositories) domains. Data integration has increased  as the volume and the need to…

Regulatory Reporting Costs and Burden for Small & Mid-Sized Banks

display_image

Anecdotal evidence from bankers suggests that the cost of complying usually increases with new rules and regulations when large statutory changes are made to financial laws and rules of any country or region[1]. This burden increases significantly when such changes are made especially after a financial crisis. New regulations stemming from the financial crisis has…

Automation in Banking

18293552513_de7ab652c7_z

Banking and Automation- the two terms are synonymous to each other in the same way bread is to butter – always clubbed together. We live in a digital age and hence, no institution of the global economy can be immune from automation and the advent of digital means of operations. In fact, banks and financial…

History of Big Data

1.4

What is Big Data? In essence, Big Data is a term for data sets that are so large or complex that traditional data processing applications are inadequate. It usually includes data sets with sizes beyond the ability of commonly used software tools to capture, curate, manage and process data within a tolerable elapsed time[1]. The…

How Banks Utilize Big Data Technology

it-1191493_640

With the banking regulatory landscape undergoing a transformation, banks have realized the need for deploying Big Data technology to efficiently manage risks that come with growth of data. Following are some cases that explain how Big Data technology has been put into practice to meet critical banking requirements: Fraud Detection and Security Address anomalies in…

A Review of BCBS 239: Helping banks stay compliant

money-1090816_640

The Basel Committee of Banking Supervision’s (BCBS) guiding principles, titled BCBS 239: Principles for Effective Risk Data Aggregation and Risk Reporting came into being in the aftermath of the 2008 Financial Crisis. The global financial crisis brought to the fore how banks’ information technology (IT) and data architectures were inadequate to deal with the management…

How can Banks keep up with changes in Regulatory Reporting?

man-551258_640

It’s a vicious cycle. The economic crisis caused by the financial downturn led to regulators coming up with new reporting requirements and changes in regulatory reporting formats. Financial institutions as well as banks are now finding it harder to cope with the different regulations. Why are banks struggling? Reporting and collating a constant stream of…