at Financial Technnology Year
Please contact them if you have any questions.
Features in Regulatory Reporting
for Compliance
Systems for automating the preparation and submission of required regulatory reports to supervisory authorities.
We ask vendors to mark their product against our feature list. It is not available for all products and in some cases we have derived data from publicly available sources. The list of features follows. Vendors can add a further 10 key features of their own.
Analytics & Business Intelligence
Facilitates deeper analysis of compliance and operational data for insights and strategic decision-making.
- Custom Analytics Designer
- Allows creation of bespoke analytical and visualization reports.
- Dashboard Refresh Rate
- Frequency at which analytics dashboards are updated.
- Data Export for Analytics
- Exports raw or aggregated data for external analysis.
- Drill-down Analysis
- Enables users to explore higher or lower levels of detail as desired.
- Forecasting/Prediction Capabilities
- Leverages historical data to predict upcoming compliance issues.
- KPI Tracking
- Tracks and visualizes key compliance and reporting performance indicators.
- Pre-built Analytical Reports
- Out-of-the-box analytics dashboards for common compliance metrics.
- Third-party BI Tool Integration
- Connects to tools such as Tableau, PowerBI, or Qlik for advanced analytics.
- Trend Analysis
- Identifies and visualizes long-term trends in regulatory or compliance data.
- What-if Scenario Modeling
- Simulates regulatory/reporting scenarios and their impact.
Audit & Traceability
Tracks every change and action related to regulatory reporting for full traceability and audit purposes.
- Audit Log Search
- Comprehensive search and filtering within audit trails.
- Change Management Logging
- Tracks changes to data, reports, rules, and configurations.
- Drill-down Capability
- Allows auditors to investigate from high-level activity down to granular changes.
- Exception Audit Reports
- Generates audit reports of exceptions and anomalies.
- Full Audit Trail
- Each action is logged with timestamp, user, and before/after values.
- Printable Audit Logs
- Supports exporting or printing audit logs for regulators.
- Retention Period Customization
- Allows setting custom data and log retention periods.
- Reviewer Comments Tracking
- Keeps a record of comments and notes added during review or approval.
- Tamper-evidence
- Logs are protected against unauthorized alteration.
- Time to Retrieve Audit Record
- Average time needed to retrieve a specific log entry.
Automation & Workflow Management
Automates repetitive regulatory reporting processes, manages workflow assignments, and mitigates operational risk.
- Alert Notifications
- Sends alerts for workflow bottlenecks or overdue tasks.
- Approval Hierarchies
- Supports customizable multi-level approvals for reports.
- Automatic Escalation
- Escalates unresolved workflow items according to defined rules.
- Batched or Parallel Processing
- Supports both sequential and parallel workflow processing.
- End-to-end Automation
- Automates the full reporting lifecycle from data extraction to report submission.
- Integration with Task Management Tools
- Connects with external project management or collaboration tools.
- SLA Monitoring
- Tracks workflow completion against service level agreements.
- Task Assignment
- Assigns roles and responsibilities to different users within the workflow.
- Task Completion Time
- Average time required to complete a workflow task.
- Workflow Visualization
- Provides graphical representation of reporting workflows.
Data Integration & Extraction
Enables the automated collection, extraction, and normalization of data from various internal and external sources required for regulatory reporting.
- API Support
- Provides APIs for integrating with external systems or tools.
- Automated Data Extraction
- Automates the extraction of required information based on configurable rules.
- Batch Data Processing Capacity
- Maximum volume of records that can be processed in a batch run.
- Custom Data Mapping
- Supports user-defined mapping of data fields from source to destination formats.
- Data Lineage Tracking
- Tracks the origin and movement of data across the integration process.
- Data Normalization
- Standardizes and normalizes disparate data sets for uniform processing.
- Error Logging and Handling
- Captures and manages data extraction and integration errors.
- Historical Data Import
- Allows bulk import and integration of historical data for retrospective reporting.
- Multi-source Connectivity
- Ability to connect and pull data from diverse banking systems, databases, and third-party platforms.
- Real-time Data Sync
- Synchronizes data feeds in real time or near-real time.
Data Quality & Validation
Monitors data accuracy, completeness, and reliability to ensure error-free regulatory submissions.
- Audit Trail for Corrections
- Tracks data corrections for transparency and governance.
- Automated Data Validation
- Checks for missing, incorrect, or outlier data values during data processing.
- Data Completeness Ratio
- Ratio of fields populated to total fields required.
- Duplicate Detection
- Identifies and flags duplicate records before submission.
- Error Correction Workflow
- Facilitates identification and remediation of data errors.
- Field-level Validation Logging
- Records validation status at the granular field level.
- Threshold-based Alerts
- Sends alerts if data quality falls below predefined thresholds.
- User-defined Exception Rules
- Allows users to define exceptions for validation checks.
- Validation Processing Speed
- Time taken to complete validation of typical data batch.
- Validation Rule Library
- Provides built-in and customizable validation rules.
Regulatory Compliance Coverage
Ensures the product supports a comprehensive set of current regulatory requirements and adapts to future changes.
- Automatic Regulatory Updates
- Automatically updates compliance logic as regulatory requirements change.
- Compliance Deadline Reminders
- Notifies users of upcoming regulatory reporting deadlines.
- Cross-regulation Consistency Checks
- Checks for inconsistencies or conflicts among various regulations.
- Custom Compliance Rules
- Allows users to input and manage custom regulatory rules.
- Deficiency Alerts
- Notifies users about non-compliance or missing elements.
- Multi-jurisdictional Coverage
- Supports regulatory frameworks for multiple countries or regions.
- Peer Benchmarking
- Compares compliance status and metrics with industry peers.
- Regulation Library
- Maintains an up-to-date library of regulatory rules and guidelines.
- Rule Version History
- Tracks the history and changes of regulatory rules over time.
- Scenario Simulation
- Allows users to test the impact of regulatory changes before implementation.
Report Generation and Customization
Provides tools for creating, customizing, and automating regulatory compliance reports to various regulators.
- Ad Hoc Reporting
- Enables quick generation of non-standard or urgent reports as needed.
- Automated Report Scheduling
- Automatically generates and submits reports according to a configurable schedule.
- Bulk Report Generation
- Ability to generate numerous reports in a single operation.
- Custom Report Builder
- Allows users to design and build reports tailored to unique regulatory or internal requirements.
- Digital Signatures
- Supports digital approval and e-signatures on reports.
- Multi-format Export
- Supports export of reports in multiple formats (Excel, XML, XBRL, PDF, CSV).
- Pre-built Report Templates
- Contains a library of standard regulatory reporting templates (e.g., Basel III, FATCA).
- Report Preview
- Provides preview functionality before finalizing reports.
- Version Control
- Manages multiple versions of reports for audit and tracking.
- Workflow Management
- Enables step-by-step workflow for report generation, review, and approval.
Scalability & Performance
Supports large-scale banking environments and high reporting volumes with reliable speed and stability.
- Concurrent User Capacity
- Maximum number of users the system can support simultaneously.
- Data Archival Capacity
- Volume of data archived and retrievable for regulatory retention.
- Disaster Recovery Support
- Ensures system availability in the event of failures or disasters.
- Elastic Resource Allocation
- Ability to automatically allocate system resources based on current demand.
- Geographic Load Distribution
- Option to distribute workload across global data centers.
- Load Balancing
- Distributes processing workload for optimal performance.
- On-demand Scalability
- Scaling system resources up or down without disrupting operations.
- Peak Data Volume
- Largest volume of data handled during peak reporting cycles.
- Response Time
- Average application response latency under normal load.
- Uptime Guarantee
- Service level uptime commitment by the vendor.
Security & Access Control
Protects sensitive regulatory data and ensures appropriate access controls are in place.
- Access Log Retention Period
- Duration for which access logs are retained.
- Anomaly Detection
- Identifies unusual patterns of access or use.
- Audit Logging
- Tracks user activity and system access for security monitoring.
- Compliance with Industry Standards
- Adheres to ISO 27001, SOC 2, GDPR, or equivalent standards.
- Data Encryption (at rest and in transit)
- Encrypts sensitive data when stored and during data transmission.
- Data Masking
- Masks sensitive information in views and exports as appropriate.
- Granular Permission Control
- Allows fine-tuned user permissions down to field or function level.
- Multi-factor Authentication
- Requires more than one form of verification before granting access.
- Role-based Access Control (RBAC)
- Grants permissions based on defined user roles in the organization.
- Single Sign-On (SSO)
- Integrates with institutional authentication solutions.
Support, Maintenance & Vendor Management
Defines the support, maintenance, and vendor-related characteristics for reliable ongoing operation and partnership.
- 24/7 Support Availability
- Support team available round-the-clock for issue resolution.
- API Documentation and Developer Support
- Comprehensive resources for integrating or extending the platform.
- Custom SLAs
- Can tailor SLAs to client-specific needs.
- Dedicated Account Manager
- Provides a single point of contact at the vendor.
- Onsite/Remote Training Options
- Comprehensive product training for users and administrators.
- Product Update Frequency
- Average frequency of major product updates or patches.
- SLA-based Issue Resolution
- Guaranteed response and resolution times as per SLA.
- Self-service Knowledge Base
- Online resources for common troubleshooting and FAQs.
- Third-party Audit Support
- Assistance during regulatory or independent audits.
- User Community and Forums
- Access to peer support and shared best practices.
User Experience & Usability
Ensures the product is accessible, easy to learn, and friendly for compliance and reporting teams.
- Accessibility Compliance
- Supports accessibility features for users with disabilities.
- Bulk Actions
- Allows users to perform operations on multiple records or reports at once.
- Customizable Dashboards
- Allows users to personalize their reporting and compliance dashboards.
- Guided Workflows
- Provides step-by-step guidance through reporting tasks.
- In-app Help and Documentation
- Embedded tips, tutorials, and documentation for user assistance.
- Intuitive User Interface
- Easy-to-navigate and logically designed screens and menus.
- Keyboard Shortcuts
- Enables efficiency for power users with keyboard commands.
- Mobile Compatibility
- Supports access and reporting from mobile devices.
- Multi-language Support
- Interface available in multiple languages.
- Onboarding & Training Tools
- Built-in wizards or modules to onboard new users with minimal friction.