Intralinks for Regulatory Filing: Challenges within Bank Compliance

Challenges within Bank Compliance

The stakes for accurate filings are high. That’s why financial institutions turn to Intralinks to take control. This Use Case demonstrates the power of a secure, seamless, and collaborative process for regulatory filings.

The 2008 financial crisis spurred hundreds of new regulatory rules for financial services firms increasing the quantity, scope, and frequency of regulatory filings – and it’s not over yet.

The continuing burden of these filings makes it more important than ever to have a controlled way to collect, review, and securely share filing information within and outside your organization. Too often this is an inefficient, labor-intensive process that occurs through unsecured channels, which can lead to inaccurate or incomplete filings potentially damaging the relationship you have with your regulators. 

For many firms, an improvement in regulatory reporting means making the process controlled, secure, and streamlined. Short of doing that, the consequences become clear:

  • Sensitive and confidential documents may be lost, leaked, or compromised in transit 
  • Parties may lose or claim to have never received documents within required time frames 
  • Filings may not be submitted by due date, costing a financial institution valuable time and effort 
  • Agencies may raise questions about a firm’s overall governance, risk, and compliance practices 
  • Firms may face significant fines, unscheduled exams, or lawsuits