BRR – Banking Regulatory Reporting

Fast, accessible, and simplified compliance

In an environment of constant legislative evolution, as in the case of COREP/FINREP, AnaCredit, MIFID II, PDS2, banking institutions required to comply with new regulations are subject to a significant increase in compliance costs.

Quidgest developed the Banking Regulatory Reporting (BRR) solution to speed up sending information to report more accessible.

Tighter regulation requires an agile management solution

In 2020, fines to banking institutions that were not complying with regulations were over $10 billion – an increase of 141% on the previous year. At a time when regulation is getting tighter and the nature of the data to be reported is becoming increasingly complex, banks need more agile solutions for managing bank regulatory reporting that don’t weigh as heavily on the budget and that, as far as possible, simplify, automate and standardise the reporting process. If they fail, they are liable to be penalized with significant fines and suffer reputational damage.