In January 2013, the Basel Committee on Banking Supervision (BCBS) published BCBS 239, Principles for Effective Risk Data Aggregation and Risk Reporting. The 14 Principles laid out by the Basel Committee are addressing an important and pressing point: most banks have been facing data and reporting issues that have prevented them from achieving a comprehensive view of their risk exposures. Whether these problems originate in the proliferation of silo’d systems or in the sheer complexity of the business organization, the target should be the same: building a single source of truth for risk data that is accurate, clear and complete. It should also be reconciled with finance data so all stakeholders in the bank can rely on figures and reports derived from it.
The new requirements are a great opportunity for banks to improve and streamline their approach to risk data management. The benefits from streamlining risk data sourcing and processing go far beyond regulatory compliance: the implementation of a single, transparent and auditable framework will help banks manage their risk exposures more efficiently and in a cost-effective manner. With our range of services and solutions, 6e Technologies is the natural partner for your transformation journey to risk data excellence by making sure that not only there are zero manual hand-offs of the data, but the data is reported out from single source of truth
Why partner with 6e Technologies, leader in IT Service Solutions?
By partnering with 6e Technologies, our dedicated team can manage any part of your IT layer stack, from enterprise to start up environments. Our services go beyond traditional development and maintenance—we help your organization achieve high performance by implementing and integrating using the latest methodologies. 6e Technologies allows organizations to dramatically lower costs, maximize productivity and uptime. It’s our mission to help you free up your resources, so you can concentrate on your mission.