PwC Belgium & BR-AG:
Building trust across the regulatory reporting value chain
Intro
Staying resilient in the face of growing changes
With the intricacy of regulatory reporting requirements increasing and the bar for data quality getting raised by regulators, financial institutions are geared up to navigate through time-consuming regulatory reporting procedures while mitigating the accompanying risks.
Facing the challenges of sustaining the appropriate level of data quality in their regulatory reporting, outdated legacy systems and fragmented infrastructure throughout the data supply chain, companies are turning to trusted advisors for the right tech-powered solution to make complex regulatory reporting more insightful and regulatory compliance a seamless part of their work.
Project
Reaping the benefits of a powerful cooperation
Jeroen Bockaert, Partner and Product & Services Leader, PwC Belgium
It is truly inspiring that our collaboration with PwC has coined into developing this cutting-edge, data-driven tool. As technology experts, we focus on the scalability and reusability of data architecture for different purposes and, above all, trust in the solutions we provide. This is indeed a step forward towards a new reporting culture for financial institutions, who now gain such a level of data insight and trust that compliance and risk mitigation become seamless. This is essential for their sustainable growth.
Michał Piechocki, Chair of the Board at BR-AG
Outcomes
A tipping point to the full value behind regulatory reporting
Now and into the future, the task ahead for organizations moving towards trusted data transcends mere compliance. Coupled with the right technology it goes beyond vetting a single aspect of data management by unveiling reliable analytical insights and making key business decisions trustworthy and data-driven.
Following the ambition of building digital trust across the regulatory reporting value chain, PwC powered its platform with ATOME tech capabilities to deliver not also exceptional data quality assurance and reach overall reporting accuracy but also enable the transformation of reports into visual insights of key regulatory reporting information.
It enables the additional layer of data quality comfort while also facilitating the visualization of crucial information. This aids stakeholders in gaining valuable insights into their production and control processes, a benefit that holds significance for financial institutions of all sizes – from small to medium-sized to large.
Multiple needs, one ecosystem
Understanding the variety of needs across department stakeholders, Regulatory Reporting Insights caters to the data demands of multiple teams managing finance, risk, and regulatory reporting.
Ensuring a value proposition in the regulatory reporting value chain, the PWC’s Regulatory Reporting Insights platform powered by ATOME technology benefits multiple stakeholders – driving the financial professionals’ (CRO, CFO) and supervisory authorities’ performances.
While reporting teams get a holistic view, transparency, and clear insights into their data quality with a human explanation of the performed control, the supervisors are benefiting from precise control over the data quality of submitted regulatory returns and the rapid collection of key insights.
Together with BR-AG, PwC is well on its way to building digital trust in the regulatory reporting value chain. With the solution introduced, organizations can benefit from the dynamic visualisation of key regulatory reporting information and enhance their data quality with trusted assurance control powered by ATOME to keep compliance with regulatory requirements.
Related products:
Join us as we examine common regulatory reporting challenges and learn how the ATOME Platform can help you meet regulatory expectations assuring exceptional data quality: