Wolters Kluwer FRR expert to discuss bank regulatory reporting approaches in webinar

KUALA LUMPUR, May 6 (Bernama) -- Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) is participating in a virtual panel discussion, ‘How Can Banks Stay Competitive Despite Tightening Regulations?’.

This is to look at ways that banks in Southeast Asia can more quickly adapt to increasing challenges they face from new age competitors such as digital banks and a rapidly evolving technology ecosystem.

According to a statement, the May 18 webinar will feature Wolters Kluwer FRR’s Subbaiyan Vaithinathan, Director, Regulatory Reporting & AML, APAC.

Vaithinathan will be joined by Irene Liu, Chief Governance and Reporting Officer, Union Digital Bank; and Suen Sim, Lead for Regulatory Compliance, Mox Bank, in a session that will be moderated by Vincent Fong, Chief Editor, Fintech News in Asia.

Traditional banks in Southeast Asia have arguably been relatively slow in meeting newer customer demands in an environment of stiffening competition from the emergence of non-traditional banks, along with the challenges that the COVID-19 pandemic have brought, which has further accelerated market demand for digital banking services.

At the same time, regulators in Southeast Asia are tightening their compliance frameworks due to the growth of financial services, making the regulatory system more complex than ever.

All these factors are requiring all banks—established or digital—to be more efficient in their regulatory compliance practices, while ensuring that their core and new businesses can withstand financial and operational risk exposures.

The panel will explore approaches for more efficient regulatory reporting and risk management capabilities, providing a blueprint for transforming banks’ data architecture and automated systems.

Wolters Kluwer FRR, which is part of the company’s Governance, Risk & Compliance (GRC) division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions.

Wolters Kluwer’s GRC division provides an array of expert solutions to help financial institutions manage regulatory and risk obligations.

-- BERNAMA