|[March 15, 2017]
Workiva Sponsors Financial Data Summit 2017 to Help Advance Digital Data Standards
(NYSE:WK), a leading provider of solutions for enterprise productivity,
is a partner sponsor of the third annual Financial
Data Summit here on March 16 at the JW Marriott.
The Summit, hosted by the Data
Coalition, is expected to draw more than 500 policymakers and others
to focus on modernizing the data processes and formats used by financial
regulatory agencies. The Data Coalition's goal is to transform the
agencies' information from disconnected documents into digital,
Summit speakers will include Congressional supporters of data
transparency, along with leaders from financial regulatory agencies and
the financial and technology private sectors. Participants will focus on
Transparency Act, which is being reintroduced in Congressby Rep.
Darrell Issa (R-CA (News - Alert)), Rep. Carolyn Maloney (D-NY) and more than 25 other
bipartisan members of the House of Representatives.
If enacted, the Financial Transparency Act would require the eight major
U.S. financial regulatory agencies to adopt consistent data fields and
formats for the information they are required to collect under existing
securities, commodities and banking laws. The Act would also require
regulators to use algorithms to process and analyze the information they
receive quickly and efficiently, thereby saving taxpayer resources and
enabling earlier detection of fraud and data errors.
"We strongly support the efforts of the Data Coalition to advance
digital data standards," said Matt Rizai, Chairman and CEO of Workiva.
"A uniform data standard will make regulatory compliance simpler and
easier for companies and agencies."
"As the Data Foundation's latest report shows, countries like Australia
are reducing compliance costs by billions of dollars by replacing
document-based regulatory reporting with open, structured data," said
Hudson Hollister, Executive Director of the Data Coalition. "Here in the
United States, reforms such as the Financial Transparency Act are moving
our financial regulators in the same direction. As data replaces
documents, the new RegTech industry can deliver transparency for
investors, analytics for agencies and cheaper compliance for the private
"Workiva has helped thousands of companies save time and money by
streamlining and automating business data processes, and we want to help
government agencies realize the same benefits," said Rizai.
Workiva (NYSE:WK) delivers Wdesk, an intuitive cloud platform that
modernizes how people work within thousands of organizations, including
over 70 percent of the FORTUNE 500®. Wdesk is built upon a
data management engine, offering controlled collaboration, data
integration, granular permissions and a full audit trail. Wdesk helps
mitigate risk, improves productivity and gives users confidence in their
data-driven decisions. Workiva employs more than 1,200 people with
offices in 16 cities. The company is headquartered in Ames, Iowa. For
more information, visit workiva.com.
Claim not confirmed by FORTUNE or Time Inc. (News - Alert) FORTUNE 500® is a
registered trademark of Time Inc. and is used under license. FORTUNE and
Time Inc. are not affiliated with, and do not endorse products or
services of, Workiva Inc.
About the Data Coalition
The Data Coalition advocates on behalf of the private sector and the
public interest for the publication of government information as
standardized, open data. Open data enhances accountability, improves
government management, reduces compliance costs, and stimulates
innovation. For more information, visit datacoalition.org.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170315006496/en/
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