Technology Awards 2017 – Best Regulation Reporting Solution

Best Regulation Reporting Solution

THOMSON REUTERS

Across the globe, the regulatory environment is changing at a rate never-before-seen. Research from Thomson Reuters shows that of the 50,000+ regulatory changes recorded in 2016, 40% took place in Asia. Given these frequent and complex updates, private banks find it necessary to leverage technology to stay abreast of regulatory developments.

Thomson Reuters caters to the needs of private banks in regulatory reporting with the combined force of two solutions: Thomson Reuters Regulatory Intelligence (TRRI) and Thomson Reuters Pricing Services (TRPS). The former is an online portal that monitors regulatory changes issued by watchdogs across the world, while the latter addresses the reporting requirements of certain asset classes by offering daily transparent valuations on structured notes and over-the-counter derivatives. Both solutions fall under the Thomson Reuters Risk Management Solutions umbrella.

TRRI tracks over 800 regulatory bodies and contains 1,400 curated digital rulebooks which cover the latest rule sets, including CRS and MiFID II. The solution collects and centralises regulatory data and updates banks’ existing risk management systems and workflows to provide compliance guidance and alerts. This ensures that bank compliance teams have the necessary tools to navigate regulatory environments with up-to-the-minute insight.

Directly targeting the product trading front, TRPS can provide daily pricing for over 2.5 million products, spanning corporate bonds to asset-backed securities and credit default swaps, where pricing was traditionally calculated via more manual means. The solution also operates according to current market standards and has undergone rigorous testing to handle large trade volumes through turbulent market conditions.

By providing regulation monitoring and daily pricing services for reporting purposes, Thomson Reuters ultimately helps private banks mitigate risks, avoid reputational damage, lower costs, and safeguard client relationships.

Thomson Reuters takes Asian Private Banker’s Best Regulation Reporting Solution for 2017.

Patrick Donaldson, head of market development, wealth management, Asia Pacific & Japan, Thomson Reuters

“The regulatory landscape for the wealth management industry in Asia continues to grow in complexity. Thomson Reuters Risk Management Solutions combine trusted information, managed services, software and human expertise to help wealth management firms manage regulatory complexities and accelerate business performance. We are proud to have been awarded ‘Best Regulation Reporting Solution’ for the Asian Private Banker Technology Awards 2017.”