Closer integration between finance and risk reporting is critical to success for banks but remains elusive. Can you get the insight you need by putting data first?
Within many banks, risk and finance are still worlds apart, making it very difficult to generate integrated information and insights. Without this comprehensive and integrated risk and financial information, you're likely to find it extremely difficult to identify and manage risks across your enterprise, while at the same time demonstrating the increased transparency and control expected by investors, regulators and other key stakeholders.
Although reporting applications and technology as a whole may often be blamed, the overriding issue is more likely to be the insufficient quality and completeness of the available data. Many banks have trusted to technology to help integrate risk and finance reporting, often at great cost and with mixed results.
In this paper we examine a more pragmatic and cost-effective way to getting the insight you need, by seeking to get the data right first.