Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) is participating in a virtual panel discussion, “How Can Banks Stay Competitive Despite Tightening Regulations?” 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. The webinar will feature Wolters Kluwer FRR’s Subbaiyan Vaithinathan, Director, Regulatory Reporting & AML, APAC, and takes place Wednesday, May 18 from 11 am - 12 pm SGT.
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. These solutions support regulated financial institutions in meeting their obligations to external regulators and their own boards of directors.
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes.