As financial services organisations navigate a dynamic and complex regulatory landscape, they are also faced with the challenge of harnessing the exponential growth of data – often sat in disparate internal and external systems – which is ultimately needed to meet the regulator’s requests. 

Regulatory compliance and risk management responsibilities compel firms to prioritise data management as part of their strategy, particularly when it comes to integrating and connecting data across an organisation and its external sources to provide a unified view. However, complicated technology, poor data quality, manual processes, and legacy systems can all prove a barrier to providing the regulators with the information they need. Ultimately, failing to adhere to the rules and standards expected of them can lead to hefty penalties and long-term reputational damage.