Benefits of granular dataīy enabling a digital lingua franca for financial regulation, granular data provides a range of benefits for financial services organisations. The use of updated frameworks and technologies is key in combatting the high cost of regulation and reporting. The cost burden on financial institutions could be significantly decreased if data was requested only once in a granular, standardised and structured process. Financial institutions can benefit from economies of scale by rethinking the data flow process, including at granular level, and investigating how data is created, exchanged and analysed between financial institution experts and regulatory bodies.Ī lack of common standards in data models and processing logic is currently a roadblock and a financial burden on most organisations.
Most regulatory data flows happen in a manual, template-based fashion. The data needs to conform to data models specified by regulators. To comply with evolving mandates issued by regulators across the APAC region, financial institutions must submit transactional/record level data as granular and disaggregated. Most now see high-quality, granular data as a new standard towards transparency and data-driven insights.
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With greater demands for transparency, financial institutions in the APAC region are turning to innovative concepts and different systems to keep up with data requests at increasing frequencies, while supplying full traceability of submissions. The importance of granular data capabilities in the Asia Pacific region
Breaking the data down to its smallest components is called disaggregation. Granular data facilitates this by breaking data down into the finest, most detailed level that is practical to use. With transformation sweeping through the financial sector, institutions are more aware than ever before of the importance of granular data to enable a digital lingua franca for financial regulation and to handle the exponential increase in data.
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