EY India launches automated regulatory tool platform
This platform is aimed at helping financial institutions automate their compliance requirements
EY India today launched the EY India Automated Regulatory Tool (EY India ART), a cloud-native solution designed to help regulated sectors such as banks and financial institutions in India streamline regulatory reporting and strengthen compliance with regulations stipulated by governing bodies like the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI).
Built on Snowflake’s unified platform, EY India ART automates the entire reporting lifecycle from data ingestion and validation to transformation, reconciliation, and final submissions, helping institutions address regulatory issues and reduce compliance costs, according to a statement.
EY India said this new platform will enable a reduction in reporting effort by up to 40%, improve turnaround times by 35% and enhance governance and strengthen audit readiness
As the foundation for the EY India ART, Snowflake's platform provides a secure, unified, and scalable environment for processing high volumes of financial data, while Snowflake’s AI Data Cloud allows for easy aggregation of information from disparate sources. The tool leverages Snowflake's built-in governance, encryption, and analytics features to automate validation, reconciliation, and anomaly detection, aligning reporting capabilities with regulatory requirements.
"By leveraging cloud-native technology and advanced analytics, EY ART empowers banks and financial institutions to not only meet compliance requirements more efficiently but also focus their teams on strategic insights and risk management, enabling a more resilient and future-ready financial ecosystem," Pratik Shah, Partner and National Financial Services Leader, EY India, said.
Beyond reporting automation, EY India ART has been designed to integrate with multiple data
environments, making it platform-agnostic and adaptable to each organisation’s infrastructure.
Edited by Affirunisa Kankudti

