DLT Compliance Reporting
Today, local financial institutions are responsible for submitting compliance reporting data to the supervisory authorities. This is commonly referred to as the ‘push model’. The increasing complexity of reporting obligations often results in delayed reporting which delivers a fragmented and incompl...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Riga Technical University Press
2023-07-01
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| Series: | Complex Systems Informatics and Modeling Quarterly |
| Subjects: | |
| Online Access: | https://csimq-journals.rtu.lv/article/view/7800 |
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| _version_ | 1832542944496713728 |
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| author | Johannes Rude Jensen Henrik Axelsen Omri Ross |
| author_facet | Johannes Rude Jensen Henrik Axelsen Omri Ross |
| author_sort | Johannes Rude Jensen |
| collection | DOAJ |
| description | Today, local financial institutions are responsible for submitting compliance reporting data to the supervisory authorities. This is commonly referred to as the ‘push model’. The increasing complexity of reporting obligations often results in delayed reporting which delivers a fragmented and incomplete macroeconomic overview of the financial sector. Working with a group of nine representatives from industry and regulatory authorities, we employ the design science research methodology (DSR) in the design of an artefact, enabling the automated collection and enrichment of transactional data from DLT ledgers. Our findings demonstrate how the adoption of DLT in the financial sector will facilitate the automation of compliance reporting through a ‘pull-model’, in which regulators can access compliance data in near real-time and stage aggregate macroeconomic risk exposures for the eurozone. The findings contribute practical insights to the discourse on design-driven research on DLT and blockchain technology. |
| format | Article |
| id | doaj-art-215efc6cc19040b390b7723ebb3d8f80 |
| institution | Kabale University |
| issn | 2255-9922 |
| language | English |
| publishDate | 2023-07-01 |
| publisher | Riga Technical University Press |
| record_format | Article |
| series | Complex Systems Informatics and Modeling Quarterly |
| spelling | doaj-art-215efc6cc19040b390b7723ebb3d8f802025-02-03T12:03:20ZengRiga Technical University PressComplex Systems Informatics and Modeling Quarterly2255-99222023-07-010359210310.7250/csimq.2023-35.043365DLT Compliance ReportingJohannes Rude Jensen0Henrik Axelsen1Omri Ross2Department of Computer Science, University of Copenhagen, Universitetsparken 1, 2100 København and eToro Labs, Njalsgade 76, 2300 KøbenhavnDepartment of Computer Science, University of Copenhagen, Universitetsparken 1, 2100 KøbenhavnDepartment of Computer Science, University of Copenhagen, Universitetsparken 1, 2100 København and eToro Labs, Njalsgade 76, 2300 KøbenhavnToday, local financial institutions are responsible for submitting compliance reporting data to the supervisory authorities. This is commonly referred to as the ‘push model’. The increasing complexity of reporting obligations often results in delayed reporting which delivers a fragmented and incomplete macroeconomic overview of the financial sector. Working with a group of nine representatives from industry and regulatory authorities, we employ the design science research methodology (DSR) in the design of an artefact, enabling the automated collection and enrichment of transactional data from DLT ledgers. Our findings demonstrate how the adoption of DLT in the financial sector will facilitate the automation of compliance reporting through a ‘pull-model’, in which regulators can access compliance data in near real-time and stage aggregate macroeconomic risk exposures for the eurozone. The findings contribute practical insights to the discourse on design-driven research on DLT and blockchain technology.https://csimq-journals.rtu.lv/article/view/7800dltblockchaincompliancereportingautomation |
| spellingShingle | Johannes Rude Jensen Henrik Axelsen Omri Ross DLT Compliance Reporting Complex Systems Informatics and Modeling Quarterly dlt blockchain compliance reporting automation |
| title | DLT Compliance Reporting |
| title_full | DLT Compliance Reporting |
| title_fullStr | DLT Compliance Reporting |
| title_full_unstemmed | DLT Compliance Reporting |
| title_short | DLT Compliance Reporting |
| title_sort | dlt compliance reporting |
| topic | dlt blockchain compliance reporting automation |
| url | https://csimq-journals.rtu.lv/article/view/7800 |
| work_keys_str_mv | AT johannesrudejensen dltcompliancereporting AT henrikaxelsen dltcompliancereporting AT omriross dltcompliancereporting |