Marc Murphy, CEO of Fenergo, shares his views about the regulatory challenges facing financial institutions. In this video, he outlines why financial institutions are looking for a single regulatory platform to comply with regulations such as KYC, FATCA, Dodd-Frank, EMIR and MiFID II.

Fenergo was a proud sponsor of FIMA London 2013.

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During his presentation at the event, Fenergo’s CEO proposed a different approach to client and counterparty data management and explained how data can be leveraged to support a single compliance framework. He outlined the data commonalities that exist between financial regulations that allow institutions to comply with multiple regulations on the one platform at the same time. By implementing a rules-driven, risk-based approach to data and compliance, financial institutions can use key pieces of data to determine the course of compliance obligations for the bank and the client journey.

During this session, he explored:  

  • How 80% of the data and compliance requirements can be solved at the same time using the same team, budget, implementation programme and technology solution.
  • How to dissect the data commonalities between regulations and identify the small delta of differences between them.
  • How to use basic data inputs to drive the entire compliance process across all regulations (KYC, Fatca, Dodd-Frank, MiFID, EMIR).
  • How to automate regulatory questionnaires and classification processes across multiple regulations.
  • How to implement a lifecycle approach to data and compliance management to ensure continued high quality data and compliance with all existing and emerging regulations.

For more on this topic, read our blog on Four Regulations: One Delivery Plan

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