The current era of global and interdependent financial systems has led to increased scrutiny with stricter and more complex regulations. Regulators, besides shortening the turnaround...
time, have also doubled the volume of information required. In this scenario, risk, financial data, and technology have become strategic investment options. As a result, banks are now looking for sustainable solutions that can help them sail through the journey of compliance.
This paper analyzes the challenges faced by the banking industry in regulatory reporting and suggests potential remediation, new-age tools, and successful approaches to reporting.