Integrated platform for 360° reporting, risk calculation and controlling regulatory KPIs
Abacus360 Banking stands for a holistic 360° approach in two fundamental ways: Firstly, the new platform goes far beyond official report preparation by integrating comprehensive functionalities for reporting, regulatory analytics, risk calculations and management of regulatory KPIs. Secondly, the new platform covers the requirements for all stakeholders involved within the Regulatory Value Chain. It can be used by firms as well as by supervisory authorities and facilitates all of the various value chain processes.
This decision for a novel, universal and comprehensive platform has been motivated by regulatory developments which have not only brought forth the most recent new measures but which have ensured the likelihood that stricter requirements will ensue in the future. In the banking industry, the results of these measures are the stress tests, AnaCredit, BCBS 239 and IFRS 9. Other trends include gradually replacing form-based reporting with data cubes and the ever-increasing influence of regulation upon banks’ product portfolios. Consequently, the regulatory KPIs have to be seriously considered in relation to long-term planning and management.
The expanding supervisory requirements pose a great challenge and have proven to be a cost driver for bank’s IT departments. IT infrastructure and processes have to be optimised in order to quickly and reliably facilitate the delivery of the required data in its mandated quality and granularity. Process automation and innovative solutions are required to enable financial institutions to be prepared in a cost-effective way for the upcoming functional and technical challenges in the near future.
Abacus360 Banking has made provisions for new measures and for anticipates the successful management of these future requirements with three foundational areas of functionality: