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Counting and Cutting the Cost of Compliance - A new tool to pinpoint and reduce compliance costs

Financial Institutions (FIs) exist in a challenging environment. Multiple waves of new national and supranational regulation have constricted FIs’ profits through, for example, the imposition of minimum capital requirements. Simultaneously, they have driven up general compliance expenditure. 

Against this backdrop, attitudes to compliance spending within FIs are changing. The sheer necessity of compliance pushed many FIs to adopt a ‘blank check’ approach – spending what had to be spent to stay within the law. However, with the global regulatory push showing no sign of relenting soon, compliance costs must be controlled.

This report outlines the key issues facing the industry in Risk Data, Aggregation and Regulatory Reporting (RDAR) cost compliance, details a robust methodology designed to highlight the core trends and ‘levers’ governing RDAR compliance costs, and offers clear, actionable insight to readers tackling a critically important challenge.