Regulators refocus on risk data fundamentals

For too long, regulators have issued complex rules while seemingly oblivious to the fact that banks will struggle to comply, argues David Rowe. A new initiative around effective risk data aggregation and reporting represents an overdue focus on the fundamentals

The dire state of enterprise data represents the dark underbelly of the transformation in computer technology over the past 50 years. Computing migrated from enterprise mainframe devices in the 1960s to mini-computers in the 1970s, then PCs in the 1980s and beyond. This dramatically improved the agility of computer systems but, at the same time, computing power fragmented into thousands upon thousands of devices scattered across diverse geographic, organisational and technological areas. We are