Regulation: the strategic dilemma of IT architecture
4 January 2016
It is clear to many banks that to comply fully with the new regulatory rules in a cost-effective way, a reactive approach is simply unsustainable. Rather, it is essential to develop a strategy that looks at their impact across the entire business and trade lifecycle to avoid duplication of effort and increased implementation costs.
With the onerous regulatory regime now part and parcel of the Financial Services Industry, banks must adapt and embed management of regulatory initiatives as a core operational function. As part of this new way of thinking, there is an additional step that should also be considered: the connection between the regulations and the IT architecture of the bank.