By Christian Thygesen, Partner | The 16th of March 2021
The cost of regulatory reporting has reached a critical level for numerous financial institutions. The procurement of the data required for generating compliant reporting is increasing year by year. To address this challenge for the financial community, CMP has developed the RegTech DataHub. It is a piece of software which collects a vast amount of data from public and commercial sources. Using our algorithms, we structure this data, enrich it, combine it in ingenious ways to create new data – that are put at disposal of our clients in preconfigured, easily accessible formats and ways.
Our clients use this data to support various types of customer and authority reporting. The RegTech DataHub covers three main business areas:
- Product Governance, customer and authority reporting under MiFID II
- Solvency II reporting
- Credit / ultimate parents’ hierarchies for both issuers and debtors
Furthermore, it contains other useful information, e.g., the Short Selling Ban Indicator and EMT 3.1.
As a general comment, it may be worth mentioning that we are trying to take a different approach at making data available for the institutions who need them. In a traditional set-up with a data vendor, you pay for the data and you are limited in their usage depending on the contract and what you have paid. This means that you have costs related to your own data governance and to the occasional audit by the vendors.
In our case, you rent the software that produces the data. After that, the data is yours, and you can use it and display it as you please. There is thus no cost associated with data administration & governance, and no risk of an audit, hence no surprises – price is fixed, and usage is free.
Also, on the basis of the customers we already have, we are confident that we can make a solid business case – without reducing coverage or quality.
Furthermore, we have the expertise to guarantee that – for some applications – we can provide data structures, transparency and business clarity which simply doesn’t exist in the market yet.
In subsequent blogs, we will provide an in-depth view on the different kinds of data in the RegTech DataHub, and how it can help you with specialized business needs in connection with the three areas mentioned above.
Our name, Capital Market Partners, reflects what we define as our core service: Business understanding based on extensive experience in applying technology in the capital market area.
As a business partner, we offer consulting services based on our combination of business understanding and IT know-how. Our work with analyzes, implementation of IT systems and other projects supports strategic decisions at different levels in complex business contexts.
For further information – Please contact:
Tel: +45 2993 4678