[01:45am] 15 SEPTEMBER 2008 – Lehman Brothers, a stalwart of global banking for over 158 years, files for bankruptcy in the middle of the night – sending the world into a global crisis which has yet to ebb.
Unfortunately, Lehman Brothers was not unique. 7 of the top 10 largest bankruptcies in history have occurred since then. Over 500 banks have filed for bankruptcy since 2008 in the US alone and leading European nations are still suffering from extended recessions.
After the crisis, the top economies of the world (representing 85% of Global GDP and two-thirds of the world population), began drafting financial regulations to create a robust regulatory framework for banks through detailed capital, leverage and liquidity requirements …
New regulations want to make sure banks improve risk controls, maintain sufficient capital and create a more transparent financial sector. But banks are struggling to implement these changes without a suitably dedicated technology. The current implementation process is simply against the "Spirit of Regulation."
Devoting time to understand and apply regulations is difficult. Markets, transactions and clients are all being put on hold while information and decisions are being processed.
Current regulatory solutions are expensive to build, buy, integrate & maintain. Moreover, every bank has to implement the same procedures and face the same challenges.
Legacy Front-to-Back Office waterfall IT systems are not equipped to handle multi-directional information flows and dynamically changing requirements.
Research conducted by the Fed concluded that 75% of banks could become unprofitable due to regulatory implementation costs. We believe there must be a better way …
We are passionate about regulation and want to unlock its full potential. As we have designed our technology specifically around regulatory concerns, banks can finally achieve continuous compliance, manage their costs and easily conduct analysis.
See where your bank stands within the current regulatory framework.
Use our tools to manage implementation efficiently and fit within regulations.
Maximise your business opportunity with proactive solutions.
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