Thomson Reuters – Benefits of strategic approach to regulatory data management & compliance

A Thomson Reuters report reveals that 88 percent of financial institutions will work strategically across regulatory agencies over the next two years. Financial institutions are recognizing the benefits of harmonized approaches to data management, enabling them to leverage data commonalities that exist across multiple global regulations. The major benefit identified by 79 percent of respondents was consistency of data across the business, followed by organizational efficiencies (63 percent), cost savings (50 percent) and a reduction in data sources used (44 percent). 29 percent of Asia-based respondents are taking a strategic approach to regulatory data management, compared with 18 percent in Europe and just 13 percent in North America. Read more here.