Strategies For Going Forward In A Highly Regulated Banking Environment (Strategy Focus)

Published by: Datamonitor

Published: Jun. 14, 2006 - 9 Pages

Table of Contents

DATAMONITOR VIEW

CATALYST

SUMMARY

ANALYSIS

Regulatory compliance should be an enterprise endeavor

Investors are driving holistic compliance trend

Centralized services are necessary and should be pushed down from senior management

Firms should set up a deliverable that satisfies multiple compliance needs

Data standardization can help FSIs comply with more than one regulation

Assessing an organization's compliance needs must be conducted in-house

Regulations are not specific about which technologies can achieve regulatory compliance

A key benefit of enterprise-wide / holistic compliance is consistency

SOX and the USA Patriot Act are driving the adoption of data management protocols

Growing regulatory compliance initiatives are expanding the roles of compliance and risk personnel

Data management policies and procedures need to be pushed from upper management

Compliance will drive the need to implement ILM strategies

A coordination of relevant ILM tools and solutions is required

ACTIONS

FSIs should strive towards holistic regulatory compliance initiatives

Offering an ILM solution

APPENDIX

Extended methodology

Further reading

Ask the analyst

List of Figures

Figure 1: Regulations that are driving the adoption of data management policies and procedures

Abstract

• Regulatory compliance coupled with globalization as well as M&As are among the key drivers for banks seeking to manage information better.
• An increasing number of banks are looking towards information lifecycle management solutions in order to comply with differing laws and regulations.

• Vendors can tailor their product offerings by assessing and analysing which regulatory compliance strategies banks are adopting at present.
• Vendors can better align their go-to-market strategies with banks' regulatory compliance strategies.

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