Bank Compliance Solutions | Regulatory Software for Banks

Regulatory change is a big challenge for financial institutions given today's increasingly complex compliance rules and intense scrutiny. As regulators clamp down on compliance and encourage banks to embed a risk-aware culture, the implications of non-compliance have never been higher – especially with outdated legacy systems.

SteelEye’s transformative bank compliance solutions for transaction reporting, trade surveillance, and communications oversight ease regulatory pressures by automating key processes, reducing risks, and enhancing your capabilities for meeting evolving demands.

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"MiFID II penalties quadrupled to €8.4 million in 2020.”
[Source: Future of Regulatory Reporting 2021]

Simplifying banks’ compliance requirements
with next-gen data management

The threat of reputational damage and penalties for non-compliance is a growing concern for financial institutions. Your bank’s regulatory processes need to be watertight – which is increasingly difficult considering the scale and range of data sources and channels involved.

SteelEye’s bank compliance solutions, powered by automation, consolidate your data and simplify transaction reporting, communications oversight, and trade surveillance - future-proofing banks for regulatory change. Our banking compliance platform stores data in an immutable, internationally compliant format (in line with CFTC, FINRA, IIROC, MiFID II, MAR, SEC rules, and more) for robust record-keeping and eDiscovery. Qualitative validation ensures your reporting, oversight, and risk detection meet regulatory standards.

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Take control of your data with SteelEye

SteelEye simplifies trade and communication oversight and regulatory reporting for banks, while letting you take control of your data and leverage it for greater insight. Get a consolidated view of all your transactions and communications, and analyze your performance against the wider market.

Here’s what you can expect from SteelEye's compliance software for banks:

A single platform for bank compliance

Manual processes, legacy systems, and data silos are no longer fit for purpose in banking compliance. To ensure your record-keeping is compliant and auditable, you need a platform that can collect and manage disparate data. SteelEye reduces complexity, risk, and human error by consolidating your data (structured and unstructured) under a single lens. All data is normalized, mapped, and indexed, making it instantly searchable and retrievable.

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Automated regulatory reporting

Our regulatory reporting software for banks seamlessly brings together all of your regulatory data, normalizing and enriching it before automatically compiling your reports with unparalleled accuracy. Save time and cost on transaction reporting, boost your data integrity, and ease any worries of human error.

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Holistic oversight and surveillance

Increased regulatory compliance requirements for banks demand proactive data monitoring to detect suspicious activity. Regulators expect banks to identify and stop potential threats swiftly, so efficient surveillance capabilities are a must to avoid penalties. SteelEye’s holistic surveillance solution, smart reporting tools, and advanced algorithms examine and monitor your trade and communications data in real-time to ensure risks are flagged and dealt with quickly.

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Ensure best execution quality

SteelEye enables effortless and continuous best execution monitoring and transaction cost analysis. Data is automatically enriched with external tick and reference data from a range of international exchanges. The platform enables you to set up alerts, leverage intelligent visualization tools, detect outliers from your Order Execution Policy (OEP), and deploy rapid backtesting.

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Gain greater insights from your bank’s regulatory compliance data

Our holistic data management solutions enable you to leverage your data for a range of purposes, from building bespoke reports to intricate analytics and management information. Our next-generation Insights tool integrates disparate data sets to help banks and financial institutions generate meaningful insights that empower your future decision-making.

Discover the next-gen data insights tool

Solving your bank’s biggest regulatory compliance issues

Data quality is the biggest barrier to accurate and continuous banking compliance. Our award-winning software helps compliance teams to keep up with global regulations and addresses the key regulatory issues banks are facing, such as:

Vast amounts of data from a growing number of sources
Silos, misalignment, and unstructured data
Legacy systems and processes
Regulatory change and increased scrutiny

SteelEye’s bank compliance solutions are designed by regulatory experts, market practitioners, and data scientists who understand today’s regulatory reporting requirements for banks. Our intuitive RegTech platform simplifies data management, bolsters compliance, and gives you a competitive edge.

“The SteelEye implementation has helped us to improve the level of control and accuracy we have around our MIFID II transaction reporting. We selected SteelEye because of the quality of their technology, the regulatory expertise demonstrated by their team, and their willingness to support our tight implementation timelines.”

“We were looking for a solution that would allow us to meet our regulatory requirements and consolidate our ever-growing number of supported platforms, communication channels, and trade and order systems. SteelEye provided that solution.”

"Rather than approaching compliance obligations from the perspective of the individual regulations, SteelEye focuses on data and technology first. As we were evaluating our options, this gave us comfort that they would meet all of our needs."

“SteelEye enables us to automate as much of our compliance set up as possible, reducing the complexity of what can otherwise be an arduous and painful process. Very few other vendors offer the same breadth of regulatory compliance solutions.”

“We have seen major benefit from the SteelEye solution. Not only in terms of meeting regulatory requirements for record-keeping and reporting, but also in terms of being able to derive important insight from interrogating the data to help us run our business more efficiently.”

“We were looking for an independent vendor that would enable us to proactively manage our regulatory obligations. We also wanted a solution that would allow us to respond to regulatory change quicker. SteelEye was the perfect fit.”

Key benefits of SteelEye’s regulatory
compliance solutions for banks

Comprehensive data consolidation

Managing multiple vendors and bringing together data from various sources is a headache for compliance officers. Our bank compliance solutions consolidate your data to simplify record-keeping, trade surveillance, communications oversight, and regulatory reporting for banks. The ability to overlay and make sense of both structured and unstructured data on a single platform is a game-changer.

Cost-savings through efficiency

The efficiency of our cloud-based data management platform drastically reduces your workload and provides cost efficiencies for your bank. With speedier investigations, rapid data searches and exports, and advanced workflow automation, you can save both time and resources.

Enhanced data management & insights

SteelEye’s advanced data management capabilities let you gain full visibility and control of your trading and compliance operations while our cutting-edge analytics provide timely insights on risks and opportunities. These insights give you a competitive edge and scope to improve performance.

Reduced risk of non-compliance

Penalties for regulatory breaches are a big concern for banks. You need demonstrable compliance across all activities. Our banking compliance software tracks every interaction, from data ingestions and regulatory processes, to each login, change, or search made, for comprehensive auditability.

Why leading firms use SteelEye to bolster banking compliance

Combining automation, AI, and machine learning technologies, SteelEye enables firms to meet regulatory obligations more efficiently and accurately than any other solution. Integrate an unparalleled range of systems for holistic data management, compliance, and insight.

See our data-driven compliance platform in action

Watch this short video to get a glimpse of how our regulatory compliance tools work.

If you’d like a deeper look at our bank compliance software, you can get a SteelEye demo. Take a test drive of our award-winning RegTech platform!

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Ready to discuss our regulatory compliance solutions for banks?

Our solutions are built to meet today’s compliance requirements, as well as those of the future, for a seamless and continuous experience. If you’d like to know more about our bank compliance solutions and software, message us at sales@steel-eye.com or call +1 516-777-9931. You can also request a free consultation and we’ll set up a tailored session to discuss your challenges and how we can help you transform your bank’s compliance capabilities.

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Cutting-edge bank compliance solutions

"MiFID II penalties quadrupled to €8.4 million in 2020.” [Source: Future of Regulatory Reporting 2021]

Simplifying banks’ compliance requirements with next-gen data management