For modern enterprises, regulatory compliance means financial management, data protection, AI governance, sustainability, resilience and more.
It calls for a tight grip on data to meet regulatory requirements, report efficiently, avoid disruption to business and satisfy customers. Leaders build trust with regulators and customers through ethical and transparent practices.
Practice leaders from Informatica joined DBTA’s webinar, Meet Regulatory Requirements With a Tight Grip on Data, to discuss why a foundation of trusted data is vital for organizations to deal with regulatory requirements and operate with confidence.
According to David Thain, principal marketing manager, data governance and privacy at
Informatica, who cited a recent survey, “93% of data leaders say the regulatory environment has held back their efforts.”
The challenges for organizations today, especially those that operate in various jurisdictions, are the volume of regulations they must think about, said Helen Kinsella
community of practice leader for data governance and quality at Informatica. The other issue is industry regulations, themselves, in areas such as banking or healthcare.
“It’s not just about being compliant, it’s about businesses and the business strategies driving the compliance to have data and collect data about these things,” said Barry Wildhagen, community of practice director for customer experience and ESG at
Informatica.
Regulatory compliance can drive innovations, Wildhagen noted. For example, several countries are aiming to curb climate change emissions when it comes to cars. This has propelled new hybrid and battery powered innovations within the automotive industry.
Data resides in siloed systems, processes, and operations from a data management perspective, Wildhagen said. How do we properly manage that?
What we are seeing organizations doing is consolidating their data management tools, Kinsella explained. The benefit of having an integrated platform is there is one solution to manage that can connect to all necessary assets.
There are three compliance goals: making regulatory reporting easier, automate compliant data operations, modernizing for resilience and security.
“Ultimately with various regulations is you need to provide reports to regulators,” Kinsella said. “That sounds easy right? But it’s not. It’s a challenge often knowing where all the data is and connect it so you can make the calculations you need to report on.”
Consider the quality that data is flowing in, it must be complete and accurate data, she noted.
Informatica offers modern infrastructure that makes regulatory reporting easier; AI-powered solutions to automate compliant data operations; and a modern platform provides resilience and security.
For the full webinar, featuring a more in-depth discussion, Q&A, and more, you can view an archived version of the webinar here.