SteelEye has been recognized for its regulatory reporting solution in the 2022 Risk Technology awards, sharing the award for the Best Regulatory Reporting System with Kaizen Reporting.
This is the ninth award SteelEye has received in 2022 and the second award it has been given by Risk. In 2021, it received the trophy for the Best Regulatory Reporting Product in the Risk Markets Technology Awards.
The Risk technology awards recognize vendors that are doing the most to help the industry meet its various challenges. The winners are decided by a judging panel, consisting of technology users and the editors of Risk.net.
When it comes to compliance risk, reporting quality remains a significant challenge for financial firms – impacting their ability to meet their reporting obligations. This is something regulators are cracking down on, in a move to ensure that the data they receive through transaction reporting enables them to sufficiently identify systemic risk and instances of market manipulation.
To address regulatory demand for better reporting data, the industry needs to change its approach. This requires better data management. Yet, most reporting solutions today are built for “perfect” input data. This is problematic because while the reporting processes may operationally run smoothly, the outcome will always be inaccurate unless the underlying data has been properly managed and validated. This is what SteelEye addresses with its efficient, scalable, and future-proofed solution for regulatory reporting.
SteelEye's data-centric approach delivers best-in-class accuracy rates and end-to-end workflow automation. This gives clients total confidence that their regulatory reporting is complete and accurate while addressing industry-wide data quality issues.
"We are delighted to be recognized for our automated and streamlined regulatory reporting solution alongside our friends at Kaizen Reporting whose complementary service for accuracy testing is equally compelling.
The industry is under increased pressure from regulators to improve its longstanding reporting quality issues. We address this with our reporting platform, which offers advanced data validation, automated workflows, and three-way reconciliation," said Matt Smith, CEO of SteelEye.
Discover more about SteelEye's regulatory reporting solution here or book a demo with the SteelEye team to get a view of the platform first-hand.
SteelEye’s RegTech suite simplifies trade and communications oversight and regulatory reporting through a unique, fully integrated, and cloud-based platform. By connecting large volumes of data from multiple sources, SteelEye enables firms to meet regulatory obligations more quickly, efficiently, and accurately than any other solution.
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