Chartis Research, the leading provider of research and analysis on the global market for risk technology, and BearingPoint, a leading international provider of innovative regulatory and risk technology solutions, have conducted research among financial institutions in Europe and the US that examines how financial institutions can allocate, control and ultimately reduce their cost of compliance for Risk Data Aggregation and Regulatory Reporting (RDAR) activities.
In the decade since the financial crisis, regulations governing banks and financial institutions have proliferated. Along with that, the cost for implementation and fulfilment of regulatory requirements has been constantly growing. Since the steady stream of new regulations shows no sign of stopping, there is a vital need to control compliance cost.
But for many financial institutions, it is difficult to quantify the exact cost of RDAR and to identify the main cost drivers and thus the most worthwhile areas for investment. Against this backdrop, BearingPoint and Chartis Research have conducted comprehensive interviews and research among financial institutions of different sizes in Europe and the US and developed a unique method of cost attribution. The report allows institutions to benchmark their cost of compliance and identify the main cost drivers as well as the impact of key IT architectural and operational decisions.
In our position paper, we cover the key challenges financial institutions face in assessing their cost of compliance and explain the methodology of the research. Please download the position paper for free. To receive a copy of the report, please fill in the contact form or send us an e-mail to firstname.lastname@example.org. We will get in contact with you shortly and provide you with the report.