Advantages of XBRL to facilitate reporting of financial and non-financial information
16 May 2022
4 min read
BR-AG
The global financial community seeks for an ideal solution to exchange financial, performance, risk, and compliance information. Regulatory authorities, businesses, and governments need a data exchange standard that will make reporting accurate, fast, and robust.
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Regulatory reporting is a critical activity for financial institutions, intertwining policy and data requirements. With many regulatory developments that influence the reporting of financial institutions, we closely follow changes to the regulatory reporting landscape in the European Union, United Kingdom and worldwide.
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Regulators often find themselves between a rock and a hard place, navigating the tricky landscape of ensuring market resilience and fostering digital innovation across their organisation. Closely following on market trends and pressing needs of central banks, policymakers and regulators, we respond the challenges facing them.
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We actively engage in events and initatives across the globe, showcasing the potential for RegTech innovation in the financial sector. We focus on the potential of data in financial services, establishing data standards and challenges faced by financial institutions in meeting regulatory reporting requirements.