Use an enterprise blockchain solution for the collection and dissemination of regulatory data for example ISO standards and certification, and ESG reporting.
Firms that manufacture and distribute technology products, need to provide regulatory and quality standards proof to clients, regulatory bodies, and wider ecosystems.
Firms deliver proofs and regulatory reports inconsistently, often struggling to obtain the data they need from suppliers, different business units, and partners to enable accurate disclosure and assurances.
Poor data quality with a lack of visibility and traceability, leading to risk of non-compliance and poor customer service for manufacturers, agents, and distributors. Data sovereignty and security are also significant risks.
It offers standardisation and a single source of truth (the Golden Record) for all regulatory data. Atos and ByzGen have already built a custom-made enterprise blockchain solution for the financial services sector which could be easily adapted to the manufacturing, technology, and engineering verticals.
MiFID II is an EU framework implemented to standardise financial practices and protect investors in the wake of the 2008 financial crisis.
MiFID II requires financial service providers to ensure high quality data to boost transparency in the economic sphere. With firms encountering roadblocks at every step of the way, find out how TISA, in collaboration with ByzGen, aims to ease regulatory reporting requirements for MiFID II, with Distributed Ledger Technology (DLT).