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Digitalization and regulation are two of today’s main drivers of change in the financial sector that are impacting the CFO agenda.

Digitalization significantly changes the environment for financial institutions and the way they operate. The CFO role must adapt to these changes. Even after the initial implementation of a regulation such as IFRS, MiFID, FATCA, CRS, AnaCredit or Solvency II it impacts a financial institution and remains a major topic not only for the CFO. Besides ongoing European initiatives, national as well as international requirements are increasing, putting additional pressure on an financial instituation’s business, its organization and processes.

And the development of further new and more sophisticated  standards will continue .

The implementation of requirements should mean striving for returns. Managing regulation should not be understood as simply “being legally compliant.” It also addresses the benefits and synergies that come along with the right implementation of such standards.

BearingPoint supports its clients in successfully and efficiently responding to the requirements set out by statutory and regulatory standards, including the impact on processes, organization and infrastructure. Information technology will become even more critical than it is today. BearingPoint helps clients enhance integrated architectures and implement suites like Abacus360 or SAP HANA. Targeting improved efficiency and quality, new sourcing concepts and innovative approaches such as robotics will be part of the solution.