What are the benefits of aggregated regulatory data with granular drill down for financial firms? Seeing the smaller and bigger picturesPublished on 11th July 2022
The current lack of standardisation within regulatory notifications, combined with the increasing volume of regulatory notices being published is a challenge for financial services firms. The more jurisdictions a firm must monitor and comply with, the more regulatory data must be sifted through. Firms need to understand the small print and the impact of notices and the potential impact of one regulator’s published notice in relation to another’s – whether they complement, overlap or clash. Firms need granular data to read the ‘small print’ and aggregated data, to see the bigger picture.
Data is a key decision-making tool within a firm’s business where regulation impacts, and where it must be assessed, and policy and application addressed. Higher quality, more easily accessible, reliable, timelier and granular data enables firms to use the data in a meaningful way – to get to the nitty gritty.
Corlytics’ themed trackers are one option when considering drilling down into regulation, with specific themes including Payments, ESG and Financial Crime headlining – and the underlying data universe being completely searchable.
As well as the specific themed trackers the Corlytics platform, with its regulatory monitoring, library and analytics solutions has filters giving users the ability to slice and dice data by themes, dates, regulator and other parameters. The more filters applied, the more specific the aggregated information. The user can then choose to drill down into each document or regulatory notice to see the detail. Each notification is offered in its original language and an English translation.
The specific granular data required by different users and departments in a firm may vary, having differing strategies, frameworks and objectives. The data can be circulated to other stakeholders or the users can slice and dice to suit their specifics needs.
Benefits of aggregated data with granular drill down:
Views of the small details and the big picture and other views as needed
More data driven decision making
Increased process efficiency
Drill down to populate fields as required
Flexibility to access the regulatory data universe to gain different insights
Avoids manual handling errors and duplication of work
Corlytics solutions offer the timeliness, scalability, risk rated analysis and data granularity needed to provide pertinent, aggregated data for compliance, regulatory change management and other data-driven regulatory initiatives.
If you are interested in learning more about how we are helping our clients manage their regulatory compliance, please get in touch with us.