SAN CARLOS, Calif. — January 25, 2011 — As new financial reform reporting requirements take effect in 2011, financial services firms find themselves in a precarious situation. MarkLogic Corporation, the company revolutionizing the way organizations leverage unstructured information, will host a webcast featuring TowerGroup’s Rod Nelsestuen to discuss how companies can rapidly respond to these new reporting regulations. The webcast, “Rapid Response to Financial Reform: Why Agility Matters Most in 2011 and Beyond,” will take place on Tuesday, February 1, 2011, at 8:00 a.m. PT/11:00 a.m. ET.
“Reporting challenges can have a significant impact on financial services firms as newly enacted laws take effect,” said Rod Nelsestuen, senior research director, TowerGroup. “Firms will need agility to respond to change as it happens or they risk fines, delays, and investigations. It’s important that companies know what to expect in 2011 and how to prepare for these challenges.”
With the new reporting regulations, financial services firms will need to quickly collect information across the business in order to meet scheduled and ad-hoc inquiries from regulatory bodies. These requests will add new technical requirements to financial services firms in order to comply with the requests and queries received. Furthermore, with data growing at nearly 80% per year, firms need to find a way to maintain productivity while adapting to the new regulations.
“The financial services sector is changing right before our eyes,” said Kelly Stirman, CTO, Financial Services, MarkLogic. “It has created an environment where companies that can anticipate and react quickly to change will not only avoid penalties, but will be put in a position to succeed. As traditional technologies and relational databases struggle to meet the requirements of the new regulations, companies that implement solutions to leverage unstructured information will have a competitive advantage.”
For more details or to register for the upcoming webcast, “Rapid Response to Financial Reform: Why Agility Matters Most in 2011 and Beyond,” on Tuesday, February 1, 2011, please click here.