Kaizen Wins Queen’s Award for Resolving Banks’ Regulatory Reporting Problems

Kaizen Wins Queen’s Award for Resolving Banks’ Regulatory Reporting Problems
21.04.2017 09:00 am

Kaizen Wins Queen’s Award for Resolving Banks’ Regulatory Reporting Problems

Infrastructure

Today Kaizen Reporting is delighted to report that it has won a Queen’s Award for Enterprise, the highest accolade in UK business, for our ReportShield data testing service. Kaizen’s award comes in the innovation category for the prestigious business awards which are announced today.

Kaizen CEO and Founder, Dario Crispini, said, “Winning a Queen’s Award for innovation is a huge honour and recognition of the uniqueness of our ReportShield testing approach and how it is helping financial firms get their regulatory reporting correct.”

Since the financial crisis in 2007, regulatory trade and transaction reporting has become an increasingly vital tool for regulators to detect insider dealing, rogue trading and the build-up of systemic risk which was one of the primary causes of the crisis. 

However regulatory reporting is becoming increasingly complex and financial firms have struggled to get it right.  This results, in some cases, in regulatory fines running into millions of pounds and costly bills to retrospectively fix the errors.

In response to this, Dario, a former regulator, and Ian Rennie, industry expert, set up Kaizen Reporting in 2013 to help improve the quality of firms’ regulatory reporting. By combining their regulatory knowledge with data science, the company has developed an automated service, ReportShield, that fully assesses the quality of regulatory reporting data.

The service tests 100% of regulatory reports in contrast to traditional testing methods which only test small amounts of data.  This in-depth testing gives Kaizen clients full sight of any errors within their reporting data so they can be corrected.

Dario continues, “Incorrect regulatory reporting is a major industry problem that Kaizen wants to help solve. ReportShield is helping both sides of the industry – firms can be confident of their reporting integrity and avoid fines, and the regulator receives good quality transaction reports, ensuring market transparency.

Related News

Coin Metrics Raises $6M

Coin Metrics, the leading provider of Cryptoasset Data and Infrastructure for institutional investorsannounced today that it completed a $6 million... Read more »

Alibaba Cloud and Multi-Lingual Support from the Global MediXchange of Combating Covid-19 (GMCC) programme

Over 440 medical institutions from 104 countries and regions have applied to learn and share experiences in battling COVID-19 through the ... Read more »

Spanish authorities approve offer from SIX

SIX Group AG (“SIX”), the Swiss financial markets infrastructure operator, today received authorisation from the CNMV for its all-cash voluntary tender offer for Bolsas y... Read more »

Refinitiv makes strategic investment in ModuleQ and its intelligent app

Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, has invested in and entered a strategic partnership agreement with ModuleQ, a... Read more »

James Hambro & Partners selects InvestCloud for digital transformation

Leading independent wealth management group James Hambro & Partners (JH&P) has selected global FinTech firm ... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel