Transforming Banking with Advanced Business Intelligence and Seamless Regulatory Reporting
Case Studies
Challenges & Solutions
Technical Environment
Results
Executive Summary
Client
Insurance Management Group
Industry
Banking, Financial Services, & Insurance
Business Problem
Regulatory and MIS reports were generated using legacy systems without a central data repository. The response timelines were too short for manual intervention, resulting in significant delays and increased validation efforts due to errors. Management aimed to develop a Central Data Repository (CDR) and Data Warehouse (DW) with high-quality data and automate report generation and submissions through a unified solution. The solution was designed to include a maker-checker option for validating regulatory reports before submission and to automatically handle both XBRL and non-XBRL reports, accommodating periodic changes in XBRL formats.
Outcome
- Increased Data Reliability: Ensured higher data accuracy and consistency.
- Enhanced Decision-Making: Enabled deeper insights and more informed decisions through advanced analytics.
Challenges
- Multiple systems were used for MIS and RBI reports.
- The existing MIS system could provide numbers to the functional head but did not support decision-making powers.
- There was no single database (CDR) available for implementing advanced analytics solutions.
- Automation for RBI reports was lacking.
- Additionally, there was no advanced analytics capability to obtain timely and accurate KPIs.
Solutions
- Built unified data sources for analytics.
- Conducted data quality assessments, including completeness and correctness validation, with channel management.
- Designed the RBI ADF, MIS, and other reports and dashboards.
- Developed a web portal to provide report history, data entry, validation, and report downloading.
- Created drill-down dashboards to analyze each event with customized triggers and alerts.
- Implemented role-based access to the reports and dashboards.
Technical Environment
- SAS Banking analytics
- SAS VA
- Java
- Oracle
- Java Fullstack
