Regulatory rules and guidelines change on an almost monthly basis, FATCA, Basel III, AML4, BCBS 239. This often leads to the following:
Given the potential for reputational risk and threat of regulatory penalties, these actions are understandable, yet they are also costly and time-consuming.
Working with one of our global clients, ICX4 have developed a world-wide master data management process and data model, that can identify data at the system, event, entity and attribute level. This approach not only provides confidence in your data assets but delivers the ability to react to regulator requests expediently.