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Risks and regulations applicable to financial services – Many see it as a challenge, we see it as an opportunity. An opportunity to distinguish yourself. An opportunity for growth. An opportunity to build trust.
The New Crypto Market Rules
Embracing Innovation while Managing Risks
RegTech has a customer focus
Regulatory Technology (RegTech) helps financial institutions to increase their trustworthiness, to improve user-friendliness, speed of action for clients and employees and to reduce costs. Trust, convenience and low costs are the preconditions for every financial institution to stay relevant.
RegTech is hot
RegTech can also help to detect risks earlier, ensuring greater flexibility and agility and an increase in the capacity for your compliance talents. In the past the financial institutions saw regulations as a barrier to innovate data storage, privacy and digital identity verification. Today they realise that RegTech can offer a great competitive advantage. That is why RegTech is hot.
RegTech can also be a response to the increasing demand for data by the regulatory bodies. Consider in this regard AQR, BCBS239 and AnaCredit. Also, RegTech can contribute to efforts from regulatory bodies to improve monitoring tools, enabling a more modular and effective monitoring.
Regtech
Wondering how we can help you with your RegTech solutions? We would like to help you with:
- Minimizing the costs entailed by compliance (and non-compliance).
- Addressing obsolete legacy IT systems.
- The need for technological innovation.
The Accelerator: co-creation for the digital transformation
PwC has put together a multidisciplinary team of experts in the field of business and software development that is able to generate IT solutions to manage business issues.
Banks:
IBOR
We are heading for 2021 and the IBORs transition – are you ready for this?
IFRS9
PwC helps financial institutions with the transition to the new reporting requirements and obtaining figures. We guide with the operational challenges and help organisations to prepare for IFRS9
PSD2 in Europe
Due to the introduction of Payment Services (PSD2) in 2019 a lot has changed for European banks and payment operators. PSD2 sets the stage for open banking, providing third-parties access to banks’ customer data and infrastructure.
Capital Cockpit
Holistic oversight, management and optimisation of your capital
Financial Data Access (FIDA)
FIDA regulation, which mandates financial institutions to share customer data with third parties upon consumer consent, requires essential actions to become compliant. PwC can assist you in navigating the complexities of this new regulation.
MiFID II
With our combined knowledge, experience and international network we can help you guide with each step in the preparation for MiFID II and MiFIR: like a gap analysis, the design, and adapting your organisation as far as the periodic audits upon completion. We have the disposal of our own tools and methodologies for these activities.
Basel IV
The implementation of the Basel IV guidelines is quite a challenge for the European banking sector. For banks this implies that the subsequent steps for an efficient implementation needs to be prepared and guided at an early stage and that it will be integrated in the organisational strategy. PwC has developed a large number of thematic solutions and project management models to help banks comply with requirements for Basel IV.
VAT
Changing VAT regulation from the EU has a direct influence on your national and cross-border transactions. In addition, the changes of supervisory rules have an effect on your VAT position.
Insurers:
IBOR
We are heading for 2021 and the IBORs transition – are you ready for this?
IFRS9
PwC helps financial institutions with the transition to the new reporting requirements and obtaining figures. We guide with the operational challenges and help organisations to prepare for IFRS9
IFRS17
In the build-up to 2022, a lot of work is still needed to be ready on time. Does your organisation have an implementation plan for, and an insight into, the impact of IFRS 17? We believe we can help you in the following areas as we approach 2022.
Financial Data Access (FIDA)
FIDA verordening, die financiële instellingen verplicht om klantdata te delen met derden na toestemming van de consument, vraagt noodzakelijke acties om compliant te worden. PwC kan u ondersteunen bij het navigeren door de complexiteit van deze nieuwe verordering.
MiFID II
With our combined knowledge, experience and international network we can help you guide with each step in the preparation for MiFID II and MiFIR: like a gap analysis, the design, and adapting your organisation as far as the periodic audits upon completion. We have the disposal of our own tools and methodologies for these activities.
Solvency II
The supervisory framework of Solvency II imposes requirements on insurers and re-insurers in Europe in terms of capital, governance and information provision. After implementation, the added value of Solvency II can be put to work for your organisation. We can support you with the following subjects.
VAT
Changing VAT regulation from the EU has a direct influence on your national and cross-border transactions. In addition, the changes of supervisory rules have an effect on your VAT position.
Asset and Wealth Management:
IBOR
We are heading for 2021 and the IBORs transition – are you ready for this?
IFRS9
PwC helps financial institutions with the transition to the new reporting requirements and obtaining figures. We guide with the operational challenges and help organisations to prepare for IFRS9
IFRS17
Due to the introduction of Payment Services (PSD2) in 2019 a lot has changed for European banks and payment operators. PSD2 sets the stage for open banking, providing third-parties access to banks’ customer data and infrastructure.
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