The regulatory landscape is not only shifting for banks at a rapid pace, but even so for leasing companies. Despite not always being equipped with a full-scale compliance and IT department as within the banking industry, leasing companies are nonetheless expected to comply with similar regulations. And that’s where our managed services comes into the picture. Through managed services we can tackle several issues at once:
1. Get a grip on your cost of compliancy and evolve to predictable costs with no surprises. The leasing company doesn’t need to expand its compliancy department with experts in the domain of regulatory reporting nor does it needs to invest in additional reporting systems. b.fine’s managed services consists of a full-service offering. This implies that b.fine will ensure that your reporting obligations are performed by b.fine’s regulatory experts on its state-of-the-art RegTech platform, b.rx. And all of these are billed at a previously agreed fixed fee.
2. Save time by removing time-consuming tasks from your teams and allowing them to focus on your business and improve your competitive advantage. While b.fine takes care of all your reporting obligations and maintains your reporting systems, the leasing company can free up resources to develop and drive the business.
3. Get easy access to a regulatory expertise and obtain the right level of support. The continued war for talent makes it difficult for individual firms to attract and retain the adequate staff. By engaging with b.fine, you can leverage on the expertise of seasoned experts within the domain of regulatory reporting and you’ll stay ahead of any upcoming regulatory change.
4. Regain control and oversight of the different reporting cycles through standardization and higher level of automation. Implementing managed services results in a stronger process governance with clear roles and responsibilities . And thus although your organization is no longer in charge of every small step of the process it stays in control on the overall performance of the process through the monitoring of pre-defined SLA-linked KPI’s.
5. Make use of the latest technology and boost the performance of your reporting infrastructure. With b.fine’s b.rx platform you’ll benefit from the latest cloud and data capabilities ensuring a fast, reliable and automated transmission of your regulatory reports towards the regulator. The reporting environment will be kept up-to-date as well so you don’t need to worry about impacts of regulatory changes on your reporting infrastructure.
Overall, thanks to the managed services, leasing companies can evolve to a peace of mind for their regulatory reporting processes. More and more financial institutions are rethinking the way they are producing regulatory reports and are opting for a managed services offering of a seasoned regulatory reporting partner. b.fine has developed a managed services framework which can be tailored to each client’s specific needs.
Want to know more about managed services? Discover our offering below.