Over the coming years, risk and finance functions face an ongoing challenge to implement and update regulatory frameworks. The granularity, frequency, and widening scope of regulatory reporting is increasing the demand on technology infrastructure. Hosted architectures built on legacy systems ease that demand but do not provide a sustainable, scalable, high-quality solution. Thus, banks of all sizes are moving to a software-as-a-service (SaaS) approach: Regulatory Compliance as a Service (RCaaS). This option not only reduces costs but also provides superior levels of service and availability.
This paper outlines the benefits of migrating regulatory compliance and regulatory reporting into the cloud