Regulatory Compliance and Risk Management
New and more complex regulations have overwhelmed the financial industry in recent years. Whether a challenger bank looking to comply to obtain a banking license or a traditional bank trying to keep up with them, it has all become an ever-increasing drain on both costs and resources. This flood of new regulations has also contributed to make risk management and finance in banks more complex to manage than ever. The impact of new accounting standards introduced by IFRS 9 have been underestimated, causing more impact on capital, business model, product selection and overall profitability as expected. Banks now need to redefine risk performance, where credit risk and expected credit losses (ECL) and other capital ratios become valuable decision making aids by the originating front line business.
Regulatory compliance, however, can provide an opportunity to leverage the necessary investments and turn them into competitive advantage.
Finastra understands the complexity that this often presents across the different business lines and is committed to offer a path to compliance and risk management that allows banks to become more efficient and helps them make better business decisions. Finastra’s innovative technology is built to facilitate a risk-controlled transformation of existing infrastructure, and bridges silo’d systems with granular dashboards, speed and agility.
Find out how Finastra solutions can help you to automate your processes from loan origination to the general ledger. Build the foundations to move to a full digital risk management age and take advantage of IFRS9 to adjust your business model and optimize the long term performance of your organization.