MiFID II RegTech Platform for a Global Investment Bank
Ensuring pre-trade and post-trade reporting compliance
2 minute read
The Challenge
Our client sought an assessment of their MiFID II programme and a partner to deliver their technology solution with. The client had previously underestimated the impact of the regulation.
Synechron was engaged to review their requirements documentation for completeness against multiple MiFID II workstreams and to provide a global IT delivery team to design, develop and test a strategic, cross-regulation reporting application and data store. We did this whilst working across multiple business lines and fixed compliance deadlines.
The Solution
We highlighted regulatory and program delivery risks by identifying gaps in requirements and in the technical design.
A team of architects and business analysts helped shape the overall application architecture, both from the perspective of technology used and functionality included. This team was rapidly expanded to provide feature teams for each key component and to start the delivery of the end-to-end reporting and record keeping platform, and control framework.
The Challenge
Our client sought an assessment of their MiFID II programme and a partner to deliver their technology solution with. The client had previously underestimated the impact of the regulation.
Synechron was engaged to review their requirements documentation for completeness against multiple MiFID II workstreams and to provide a global IT delivery team to design, develop and test a strategic, cross-regulation reporting application and data store. We did this whilst working across multiple business lines and fixed compliance deadlines.
The Solution
We highlighted regulatory and program delivery risks by identifying gaps in requirements and in the technical design.
A team of architects and business analysts helped shape the overall application architecture, both from the perspective of technology used and functionality included. This team was rapidly expanded to provide feature teams for each key component and to start the delivery of the end-to-end reporting and record keeping platform, and control framework.
The Results
RegTech platform processes 10M+ trades and 5M+ quotes daily
Scalable architecture to ensure compliance now and in future
Our Process
We achieved compliance through end-to-end delivery, fully leveraging Synechron’s regulatory consulting and technology expertise.
Regulatory requirements validation: Using our compliance expertise, we identified gaps in the existing requirements and technical design.
Design: Our team of architects and business analysts helped shape the overall application architecture, both from the perspective of the technology used and the functionality required.
Delivery: An onshore and offshore Synechron team developed the full end-to-end reporting and record-keeping platform within one-year.
Compliance: Our scalable RegTech solution ensured 95% reporting acceptance on day one. We later expanded the platform to include other jurisdictions and regulations.
About Consulting
150
Senior Consultants
100
Active Engagements
5
Core Capabilities
Our Service Offering
We define your current state, target state and roadmap for an optimal enterprise operating model for any business transformation, across people, processes, applications, data and technology.
We advise and manage the selection, development and implementation of fit-for-purpose IT systems to meet your goals for cost efficiencies, regulatory adherence and customer lifecycle experiences.
Our experts bring thought leadership and a unique view of how to turn regulatory challenge into business opportunities. We assess the regulatory impact on your products, services and operating model.
We offer a holistic approach to drive change initiatives related to sustainable finance and climate risk – where we leverage our digital solutions, ESG data experience, and compliance expertise.
We design and execute roadmaps for structural improvement, better control, and delivery of integrated architecture – enhancing your financial reporting and credit risk management.
Our Service Offering
Strategy, architecture and transformation
We define your current state, target state and roadmap for an optimal enterprise operating model for any business transformation, across people, processes, applications, data and technology.
Client lifecycle management and financial crime
We advise and manage the selection, development and implementation of fit-for-purpose IT systems to meet your goals for cost efficiencies, regulatory adherence and customer lifecycle experiences.
Regulatory change and compliance
Our experts bring thought leadership and a unique view of how to turn regulatory challenge into business opportunities. We assess the regulatory impact on your products, services and operating model.
Sustainable finance and ESG
We offer a holistic approach to drive change initiatives related to sustainable finance and climate risk – where we leverage our digital solutions, ESG data experience, and compliance expertise.
Finance and risk transformation
We design and execute roadmaps for structural improvement, better control, and delivery of integrated architecture – enhancing your financial reporting and credit risk management.
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