Since the global financial crisis, regulators have taken a more rigorous and data-driven approach to supervision, which has meant increasingly complex regulatory reporting requirements for financial firms. As a result, reporting errors and poor data quality have become common, often resulting in fines and reducing the usefulness of the data regulators collect.
Regulation Asia sat down with Ian Rennie, Managing Director at Kaizen Reporting, to understand how testing reduces costs, improves quality and increases confidence in regulatory reporting.
Kaizen Reporting won the Regtech Award for Data Assurance in the 2nd Regulation Asia Awards for Excellence 2019 at a ceremony in Singapore on 13 November 2019. Details here.