Catena Launches Consulting Services that Improve Trade Reporting Data Quality
17 July 2018 - Catena Technologies today announced that it is providing consulting services related to regulatory trade reporting. The company's offerings address the need for financial institutions to improve the quality of the information that is being reported to regulators while supporting the ongoing focus on optimizing reporting processes to reduce effort and cost. The services are provided as packages that cover three core areas: submission accuracy and completeness, efficiency and effectiveness of reconciliation, and end-to-end improvement of reporting processes.
"Many banks have to deal with large numbers of reconciliation breaks, which drastically increase the time and effort required to support business-as-usual trade reporting," said Aaron Hallmark, Catena's Chief Executive Officer." Our consulting focuses on using data analytics to identify root causes of break failures so that they can be handled more efficiently and resolved automatically where possible."
Most financial institutions have complied with the base trade reporting requirements. However, the quality of the data being reported is, in many cases, still lacking. As regulators scrutinize reporting data more closely and start to impose fines, addressing data quality issues is becoming a critical concern for many financial institutions.
"Our heritage as a consulting services firm, combined with our product and industry knowledge of trade reporting, puts us in a unique position to offer these services," added Randall Duran, Chairman of Catena Technologies." Our research and development work in the area of machine learning provides Catena a with a powerful set of tools and techniques that can dramatically reduce the stresses and strains that organizations are experiencing with trade reporting."
About Catena Technologies Pte Ltd
Catena Technologies Pte Ltd is a Fintech company that specializes in architecture, design, and delivery of advanced technology solutions for the financial services industry. Headquartered in Singapore, the company has provided products and services to customers across the world, including the U.S., U.K., Europe, and Asia. Catena Technologies combines in-depth knowledge of the financial markets with expertise implementing cutting-edge solutions.
For More Information Contact:
Catena Technologies Pte Ltd
3 Phillip Street
#10-01 Royal Group Building
Republic of Singapore
Phone: +65 6100 0881