The economic crisis caused by the financial downturn led to regulators coming up with new reporting requirements and changes in regulatory reporting formats. Financial institutions as well as banks are now finding it harder to cope with the different regulations. But exactly why are banks struggling? What is the role of banking regulators in this? Can technology offer a solution? What is the need of the hour? Get your questions answered

1. How can Banks keep up with changes in
Regulatory Reporting?
Author: Prakash Jalihal
It’s a vicious cycle.
The economic crisis caused by the financial downturn led to regulators coming up with new reporting
requirements and changes in regulatory reporting formats. Financial institutions as well as banks are
now finding it harder to cope with the different regulations.
Why are banks struggling?
Reporting and collating a constant stream of data to regulators, in addition to providing a wide range of
financial services to clients strains resources and causes snags in delivery.
What is the role of banking regulators?
Banking regulators play a key role in the progress and safety of the banking behemoth. In order to
optimize banking systems, regulators require up to the speed information from banks at specific times.
By doing so, they ensure its safety and profitability.
What is the need of the hour?
With the advent of new regulations especially Basel 1, 11 and 111, banks are now hard pressed to come
up with effective systems which can meet these new challenges.
What is imperative is a scalable process which streamlines the ginormous amounts of data on time and
produces accurate reports which can meet future demands of regulatory regulations as well.
It is time for banks to reboot their systems and come up with solutions that enable them to cope well
with the new rules. Time is of the essence since most of the new regulations have strict deadlines.
Can Technology help?
The evolving regulatory environment means banks and financial institutions have to pull up their socks
and tackle the task at hand. The only way to streamline data collection from a dizzying array of sources
and modernized systems is to adopt innovative regulatory reporting tools.

2. What does Hexanika have to offer?
Hexanika has developed the revolutionary SmartRegTM
which is an out of the box solution for banks in
the new regulatory scenario because it simplifies regulatory reporting.
Our second product SmartJoinTM
is based on the Hadoop framework and unifies data from multiple
sources.
Hence, taking Hexanika on board for regulatory issues would enable banks to stay the course without a
ripple.
For any queries, do contact us via our website http://hexanika.com/
Contributor: Maheen Usmani
Related Links:
http://hexanika.com/regulatory-tsunami-financial-pain-grips-banks/
http://hexanika.com/did-regulatory-woes-lead-to-seismic-shift-at-deutsche/
http://hexanika.com/regulatory-compliance-impact-on-small-and-midsize-banks/
http://hexanika.com/regulatory-impact-on-large-banks/
Basel III Framework: http://www.bis.org/bcbs/basel3.htm
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