Regulatory Reporting: Can Bots Help to Cut Cost and Increase Compliance?In the last decade, there has been an explosion of regulatory reporting obligations globally and in the last few months there has been a number of related high profile fines.
Banks and financial firms are spending millions of dollars to transform the business and technology processes to meet regulatory requirements, and address reporting failures. But with such diverse and complex regulations, error rates remain high, manual processes are common and the number of outstanding defects could take firms years to address, at a rate that will likely be unacceptable to the regulators.
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