How confident are you that your organisation is making the most of the work that goes into preparing for new regulation?
In the past decade, the financial services industry has ramped up its focus on compliance and poured billions into preparing for new regulations. Professionals with in-depth understanding of regulation have been in more demand than ever before, and the vendors positioned to meet changing requirements have been inundated with enquiries.
A WatersTechnology survey revealed that one in five firms have disparate systems for cash, intraday liquidity, collateral management and corporate actions, and only a small percentage of the market has combined all of these functions into a single view. Considering the sheer volume of new regulations set to impact cash and liquidity management in the near future, however, it is no surprise that the majority say the main driver for investments in cash and liquidity management projects right now is the need for centralising liquidity management.
In addition to strengthening the case for centralising data and systems, regulation has also led to increased recognition of the benefits of intraday visibility.