Regulatory Technology (RegTech) solutions provide an automated, cost-effective way of meeting compliance and regulatory reporting needs. The digitalization of regulatory processes allows firms to generate regulatory reports automatically as well as enable better data governance. The Artificial Intelligence (AI) enabled solution improves operational efficiency through seamlessly sifting through big data, allowing for faster turnarounds, greater flexibility and agility in the use of data. The automated solution delivers significant cost savings through data storage optimization. Inbuilt security features minimize hacking risks by allowing only authorized access and minimal data replication. Find out more at www.ey.com/sg/fintechhub. For enquiries, contact us via email at fintech@sg.ey.com.

1. Data governance solution for ease of
compliance
Case study
Context:
A global bank providing investment banking,
asset management and wealth management
services to private, corporate and institutional
clients worldwide was seeking a solution for
automating, simplifying and hastening its data
governance process.
Solution configuration:
• Recommended solution sifts through all
data to identify, classify and categorize. It
can group documents by semantic, nature
and topic.
• Passive scanning of all files in your data
repository and detect new information or
updated records.
• Prediction of information and data
ownership through embedded workflow.
• It can tag the relevant level of
confidentiality based on content and
organization policies.
• It enables collaboration with data stewards
easily to provide meaningful insights and
maintain context around the data.
Client impact:
• Reduced manual verification
• Easier compliance with regulations
• Ability to identify, access and secure
classified information
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Challenges faced by institutions
Long preparation time to submit
regulatory documentation
Reducing IT, security operations
and legal costs
Saving hard and soft costs on
storage penalties, legal expenses
and reputation
Locating confidential data easily
and ensure digital security
Leading interfaces and technology capabilities
Machine learning Deep learning Natural language
processing
Big data analysis
Simplified data management
AI-enabled data
governance
Automated sorting of
data into central
database
Reads documentation
even in different
languages
Identifying and
classifying documents
Multiple grouping
options such as
semantics, topics and
so on
Expediting the
investigation process,
data subject access
request, avoid litigation
and penalties
Complying with laws
and regulations with
fast and accurate data
identification
Customizing dashboard
to the organization’s
needs and report
requirements
Eradicating manual and
repetitive work prone to
human error
Varun Mittal
EY Global Emerging Markets FinTech
Leader
varun.mittal@sg.ey.com
Website: www.ey.com/sg/fintechhub
Email: fintech@sg.ey.com
Sahil Gupta
EY ASEAN FinTech Manager
sahil.gupta@sg.ey.com

2. EY | Assurance | Tax | Transactions | Advisory
About EY
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of which is a separate legal entity. Ernst & Young Global Limited,
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clients. For more information about our organization, please visit
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