Blockchain Enabled Solutions for Reporting Emerge
Bank Blockchain Case Study – Bank of Ireland
Blockchain Enabled Regulatory Reporting – Creating an immutable single customer view for MiFID II reporting.
The potential of Blockchain, and other FinTech, to impact regulatory reporting is a widely reported phenomenon. At Data Amplified, we’ll be examining a case study of the efforts made by Deloitte and an Irish bank to record and report on product offerings and customer interactions and trades for MiFID II reporting. MiFID II obliges financial firms to be much more transparent about their trading activities, including the provision of a wide range of data about OTC trades in near real time. It will come into effect in January 2018.
This case study will be presented by Lory Kehoe, a Director at Deloitte and that firm’s EMEA FS Blockchain Lab Lead. He will take you through Deloitte’s proposed solutions for the MiFID II and challenges faced by the Bank of Ireland (a commercial bank) which included using Blockchain to synthesise data from multiple systems to develop a single client view of trade processing; create a data-driven immutable, distributed, searchable repository of information across the full trade cycle; and provide multiple views, including for relevant regulators.
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