Banks Encouraged to View Basel IV as Catalyst for Greater Productivity in Wolters Kluwer White Paper
Summary
LONDON--(BUSINESS WIRE)--Banks that take a wait and see approach to Basel IV are likely to face higher costs and added travails in implementation, as well as fewer commercial benefits in the years ahead. The white paper, “Basel IV – Your Path to a More Profitable Business,” notes how the deadlines for implementing the latest round of Basel guidelines have been delayed to help institutions cope with the personal and commercial toll of the COVID-19 pandemic. The continued emphasis on forward looking analysis and a holistic, collaborative organizational structure for compliance and reporting purposes, supported by data management capabilities designed along the same lines, can be leveraged for strategic planning and other commercial objectives. “Success in streamlining operations and maximizing productivity and profit potential, and any edge gained over the competition, can reap especially great long-term rewards when achieved at times like these,” commented Jeroen Van Doorsselaere, author of the white paper and Director of Value Propositions for Wolters Kluwer FRR. Using a single source of data for finance, risk and regulatory reporting that is enriched with value-added content from Wolters Kluwer’s in-house experts, OneSumX for Basel IV helps remove barriers triggered by traditional silo structures and generates a deeper insight for the entire enterprise.