Regnology’s supervisory technology will contribute to transforming and modernizing its data architecture.
The goal of the bank is to transform its data management capabilities and establish a unified regulatory reporting platform based on modern architectural principles.
By handling regulatory data as an asset embedding valuable information, BoL aims to supervise the financial industry with enriched insight and in turn, create a more resilient financial ecosystem. Regnology said its future-proof technology, granular data modelling, and cloud-native approach are aligned with the bank’s ambitions to innovate and lead the path in defining the future of supervision.
Regnology will also provide Regulation-as-a-Service to Bank of Lithuania by constantly updating the regulatory content delivered with the platform according to new European System of Financial Supervision (ESFS) regulatory requirements, thereby unburdening the regulatory changes.
Central banks are dealing with an enormous and growing amount of data which needs to be collected, transformed, and analyzed. By leveraging innovative technology solutions which can manage substantial data volumes, supervisors will be able to better cope with the ever-increasing demands stemming from EU regulation.