Modern Regulatory reporting requirements are so complex that even the regulator has a hard time understanding them during the initial phase.  New requirements are usually initiated by global or, regional centers with national regulators playing catch up in a similar way that banks do. As such, when a requirement is initially issued it is lacking in both clarity and depth which local regulators are unable to provide.  This, coupled with the complexity of modern banking, results in a situation where detailed accurate business and functional requirements can not be written upfront so as to allow timely Strategic delivery of regulatory projects.

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In the case of Tier 1 banks, the number of entities absorbed into the organization over time, the number of legacy systems and solutions in use and the need for cost reduction and downsizing has further exacerbated the above constrains. A clear understanding of the complete picture that can be turned into detailed business and functional requirements that are adequately clear and accurate enough to facilitate strategic delivery is not an easy challenge to overcome at the early stages of a project.

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CKAN can develop Evolutionary Prototypes that can overcome the above challenges. The aim is to facilitate business requirements identification, provide detailed functional requirements, facilitate the tight timelines by establishing quick access to all the required datasets, introduce new infostructure as needed, complete the build and deliver proving runs and go live.