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Why Automation Is a Must for Financial Reporting
Banks are struggling with outdated legacy systems that hinder their ability to meet modern regulatory demands. Despite the clear need for automation, many institutions are hesitant to invest in more advanced solutions. As a result, these institutions continue to waste valuable resources on inefficient, manual processes.
Jun 02, 2025
Tags:
ALM, Treasury and Liquidity Risk
Regulation and Compliance
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The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization
- Many banks still rely on legacy systems, such as Excel and SQL, for financial reporting
- These outdated
systems increase inefficiency and the risk of errors
- Banks are
hesitant to invest in automation due to budget constraints or competing
priorities
- Automated
reporting platforms can streamline workflows and reduce operational costs
- The reluctance
to modernize reporting systems could lead to long-term operational challenges
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