WILSELE, BELGIUM. April 24th, 2024 - RiskConcile, a leading data, risk and regulatory technology solutions provider for the financial industry, is urging finance firms to integrate automation into their working practices in the face of complex financial regulation.
The complexity of financial regulation has long been a source of significant challenge for fund companies across the globe. Financial institutions grapple with a complex mix of local and global regulations, data management challenges, evolving technology, and multi-level decision-making processes.
The integration of automation into financial management is altering the way fund companies handle risk and regulatory compliance. By drastically cutting down on manual labour and time, these technologies are boosting both accuracy and efficiency.
Jan De Spiegeleer, CEO at RiskConcile said: "In an environment where regulations like MiFID, PRIIPs, and SFDR are evolving rapidly, the burden on these companies to stay compliant is enormous and keeps expanding.
“In the face of ever-growing regulatory complexity, the power of automation cannot be overstated. It's not just about simplifying compliance; it's about empowering finance firms to navigate these challenges with greater ease and accuracy, freeing them to focus on innovation and growth."
The varied requirements of the financial sector are now being addressed by a new generation of tailored automation solutions which encompass everything from risk data storage and market risk analysis to automated reporting and dashboard creation. These custom tools are becoming indispensable for adhering to a range of regulations, including MiFID, UCITS, PRIIPs, AIFMD, and SFDR.
Jan De Spiegeleer added: “This technological revolution signifies a broader trend in the financial industry towards greater efficiency and accuracy. At RiskConcile, we’re bringing solutions to the market that aim to reduce the burden of risk and compliance. This innovative technology empowers financial firms to rise above the complexities of regulations and dedicate more resources to managing their portfolio.”
For further insights into automation in the financial management sector, visit www.riskconcile.com.
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