Ajman Bank, a UAE lender, has rolled out a new RegTech platform built with consultancy 4most and regulatory technology specialist Reporting Center, overhauling how it handles reporting to the Central Bank of the UAE (CBUAE).
The project gives the Bank a single, centralised system for its regulatory reporting work. Data gathering, regulatory calculations, validation checks, adjustments and the production of final reports now all sit within one auditable and customisable environment.
The aim is to help Ajman Bank react more quickly as CBUAE requirements shift, using automation and tighter oversight.
Ajman Bank has swapped its previous reporting activities for structured, automated workflows. This gives the institution clearer sight of each stage of the process, from the original source data through to calculations, validations and the eventual submission to the regulator.
Traceability is central to the overhaul. The platform records data, calculations, adjustments and user activity across the full reporting cycle, creating an audit trail designed to reinforce governance and control.
The system can also be reconfigured as rules change. Ajman Bank can modify reporting logic, mappings, formulas, validation rules and workflows without rebuilding its infrastructure, positioning the Bank to absorb future regulatory updates as well as meet current obligations.
The rollout forms part of a wider push by Ajman Bank to reinforce its regulatory reporting framework through technology and automation.
Ajman Bank CEO Mustafa Al Khalfawi said, “Regulatory compliance is increasingly about our ability to respond quickly to change while maintaining robust governance and control.
Source link
