Financial institutions and FinTechs have unique strengths that when brought together can be very powerful. Financial institutions possess market share and well-established relationships with their customers, often developed over many years. Meanwhile, FinTechs offer specialist technical knowledge and an agile approach to innovation, enabling them to improve inefficient processes and build powerful digital solutions.
Financial institutions are under pressure from regulators to automate their regulatory reporting which includes having effective and efficient tools in place. In recent years, there has been a significant increase in innovative projects from regulators, focusing on improving processes to reduce overheads through technology and data. In the near future, regulators will want to see a holistic and readily accessible view of the reporting process and the firm's granular data.
“Regulators and industry participants are leveraging data more comprehensively than ever, so it’s imperative that they have the necessary modeling tools to analyse it in order to make informed decisions,” Philip Dutton, Co-Founder of Solidatus.
NEW YORK and LONDON - September 26, 2019 - EDM Council, the cross-industry trade association for data management, has partnered with Solidatus, the leading data lineage and business relationship modeling solution, to provide EDM Council members with a DCAM® (Data Management Capability Assessment Model) Knowledge Modeling tool.