Wolters Kluwer: Regulatory Reporting - The hidden costs of not investing in your systems and processes

Until recently, many banks have been able to maintain regulatory reporting processes without material investment by using Excel and/or other internally developed applications. Over the last few years, however, regulators have been upgrading their requirements for reporting in order to generate timely, detailed, and correct information to support their prudential responsibilities.  In parallel, and coinciding with the global financial crisis, banks have focussed on reducing costs as they repair