Finance Transformation Meets Post-Crisis Risk Management: The Need for a Unified Platform Architecture
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Overview: Globally, financial institutions are faced with ever pressing challenges to enhance their business models, while simultaneously having to comply with a plethora of new regulations.
Through these changes they have realized a more integrated - finance and risk - architecture is essential. Historically these different business elements had been addressed using a silo based approach and invariably led to a manually driven architecture being embedded within a financial institution.
This is not conducive to a streamlined financial closing cycle and creates a misalignment between financial, management and regulatory reporting. Mindful of this strategic challenge facing the industry, this whitepaper explores the case for a transformative architecture aligning - risk and finance - functions to deliver tangible efficiencies across reporting processes and ultimately empower an improved strategic decision making framework.