Sapient Creates Cloud-based Regulatory Compliance Solutions for Financial Services Industry Needs

  • Consultancy
  • 16.06.2017 08:00 am

Sapient Global Markets, a global provider of business technology and consulting services for the financial and commodity markets, today announced it will deliver highly scalable, reliable and secure business services powered by a financial trade data hub using Microsoft Azure.

The banking and capital markets industries are witnessing increasing complexity of doing business globally, ever changing organizational requirements, rising operational costs and heightened scrutiny of data quality. This is driving firms to evaluate their existing capabilities to accurately perform day-to-day business operations with transformative solutions supported by analytics at scale.

New upcoming compliance regulations and frameworks such as the Comprehensive Capital Analysis and Review (CCAR) and Markets in Financial Instruments Directive (MiFID), will mean supporting a data infrastructure that impacts the organization globally. This includes enlisting new data entities, integrating with new data sources, supporting large volumes of data and processing power at speed and scale that continues to expand exponentially.

The solution powered by Microsoft Azure offers the flexibility and benefit of a proven cloud-based platform, along with Sapient Global Markets’ extensive track record and reputation for delivering business and technology consulting services and solutions. It will enable financial services industry firms to utilize cloud agility and scale for data-related assurance and analysis requirements through a variety of managed services. Using the service will help firms to deliver error identification and meaningful analytical insights for continuous process improvement.

The first offering under the collaboration is for regulatory reporting, powered by Sapient’s award-winning CMRSSM platform that manages reporting for trade, transaction, valuation and collateral data for multiple global regulations and has seen strong adoption from leading Industry customers already.

“After a thorough evaluation of the cloud providers in the market, Sapient decided that Microsoft Azure would be the best fit for our customers. Azure offers lower cost expenditure, alongside security features and privacy options that were unparalleled,” commented Arun Karur, vice president at Sapient Global Markets. “Our vision is to leverage Microsoft Azure capabilities to build out a series of service offerings that will support process related to trade data. Regulatory reporting is an obvious first step, where poor data will lead to inaccurate reporting and open firms up to censure and fines.”

Other managed services offerings under consideration on the Azure platform include targeting valuation modelling service, centralized trade content management service, as well as the use of machine learning tools for cost of trade analysis and failure identification.

“As banks and capital markets firms undertake strategic digital transformation initiatives, one of the top issues we hear from our clients is the ability to comply with complex enterprise wide regulatory mandates,” said Rupesh Khendry, Director, Worldwide Financial Services Industry Solutions at Microsoft. “Sapient’s leading CMRS SaaS solution is powered by Microsoft Azure - the cloud that offers financial institutions the security, scale and agility to manage mission-critical business needs.

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