Imagine seamlessly selecting and running independant regulatory modules, like the ECB's BIRD project's Finrep module, on your preferred regulatory platform. This approach liberates you from the constraints of fixed systems, allowing you to focus on performance and functionality, not on the intricacies of regulatory data models and logic.
Envision accessing a store of regulatory logic, integrating these into your platforms, and concentrating on your technological edge. This eliminates the need for costly duplication in developing regulatory models and logic.
Banks can now collaborate on modules such as the Basel credit risk module, choosing and easily switching between compatible software systems without being tied down to unsatisfactory vendors.
Just as HTML standardization allows for a diverse yet compatible web experience across browsers like Firefox, Chrome, or Internet Explorer, standards in regulatory reporting ensure interoperability and prevent the fragmentation seen in the current landscape of regulatory logic.
With the RegDNA open standard, we decouple regulatory software platforms from data models and logic. This enables regulatory experts to focus on building and collaborating on effective logic, while tech companies can innovate on platform capabilities.
These technical platforms offer an array of features, including audit, UI analysis, lineage drilldown, integration, scenario analysis, "what-if" analysis, workflow, and report submission, among others.
With standards-based solutions, choose the best logic and platform independently. Why settle for a compromise when you can have the best of both worlds?