The Unity NXT Regulatory Reporting platform is powered by Synapse and Confluence introduced it in May of last year. The new forms require new data, new formatting and shorter reporting timeframes that present a monumental operating challenge to back offices. They will affect approximately 13,000 US mutual funds.

Synapse claims that its data integration and workflow automation is good at accommodating rule-changes. As timelines for meeting regulatory mandates continue to condense and the number of data sources continues to increase, the financial sector's greatest task is to keep up with the pace and scale of regulatory reporting. The new platform is billed as a single, validated regulatory data set that can be reused throughout an entire enterprise.