Following the epochal upheavals from Basel III to AnaCredit in the 2010s, Bank's Regulatory Reporting is currently undergoing less noticeable change.
New technologies such as cloud computing are being adapted, data quality and cross-validation have become the focus of supervision and the paradigm shift towards a more comprehensive granular reporting in the IReF is imminent. In the BearingPoint Regulatory Reporting Study, we asked European banks about their views on the current and future state of Regulatory Reporting, in the dimension organization, reporting quality, digitalization and change management.
About the study
- The study is designed as a recurring study to track developments in European Regulatory Reporting, particularly in light of regulatory changes.
- The study is comparing Status Quo and 5y-expectations for key dimensions such as organization, reporting quality and digitalization.
- The study is already covering more than 35 institutions from 8 European countries in its first iteration with further participants expected.
- The study is yielding significant insights into expected developments in Regulatory Reporting beyond 2024.
Based on the answers we present a (self-) image of the Regulatory Reporting in banks today, as well as in five years' time, we see that:
By 2030, fully integrated end-to-end SaaS solutions will dominate Regulatory Reporting, as most banks have completed the Cloud migration, rendering on-premises deployment model obsolete.
Regulatory Reporting is increasingly centralized within the CFO domain. A trend expected to intensify, possibly due to enhanced cross-validation by regulators.
Banks are expanding reporting to cover areas like ESG and Anti-Financial Crime, with Regulatory Reporting increasingly providing valuable data and insights for bank steering and management.
While there is currently no visible use of AI in Regulatory Reporting, there is a strong belief in use cases that are expected to materialize over the next five years.
Data quality remains a key challenge for banks, heightened by recent regulatory scrutiny. While initiatives have improved quality, further advancements are expected.
In the download section you will find first insights into upcoming challenges and changes, which our expert Stefan Kauerauf presented at the RegTech Convention 2024. The full study will be available in January 2025.
Please feel free to contact us to find out more about the study results.
