Collibra, a leader in data governance software solutions for business users, and PwC notified Dataversity that the two companies have expanded the scope of their existing global partner relationship.

With this expanded alliance, Collibra and PwC UK will provide integrated solutions to help financial services organisations understand the impact of global regulatory obligations on the firm’s requirements around the implementation and operationalisation of data management and governance to improve operations, improve data quality to mitigate risk, drive growth, and create new sources of value.

Global financial services organisations are grappling with how to understand, quickly act on, and remain compliant with a growing host of international financial services regulations, including the Basel Committee of Banking Supervision (BCBS) 239, Comprehensive Capital Analysis and Review (CCAR), the Sarbanes-Oxley Act, Markets in Financial Instruments Directive (MiFID) II and the General Data Protection Regulation (GDPR). The risks of non-compliance can be severe, with both hard and soft costs in the form of significant financial penalties along with reputation damage for those firms that lag behind.

PwC will leverage its Global Centre of Excellence network, focused on regulations and change, to assess and remediate an organisation’s compliance with the regulatory requirements. A key aspect of this will be through applying PwC’s ARIA framework, which supports assessment of global regulations for a specific subject area within an institution.

Read more at the Collibra Newsroom.