Enhancing Efficiency in Compliance Reporting
Client Overview
Headquartered in Spain, the client is a leading global banking institution with extensive operations across Europe and the Americas. In 2022, the bank reported a revenue of approximately €54 billion, serving customers through a vast global network.
Key Challenges
The client encountered issues with their M7 Compliance report, necessitating enhancements in compliance processes and data analysis. Specific challenges included:
Absence of “Parent-Child in the grid” for each organization.
Lack of “Color Coding” for easy data representation.
Strategic Solutions
- To address these challenges, the following solutions were implemented:
Hierarchy Display: Introduced hierarchical displays for each organization.
Value Calculation: Calculated ‘Previous Final Value’ and ‘Final Value’ for all objects mapped with the Compliance Model, enhancing accuracy by 25%.
Data Extraction: Parsed nested JSON data for effective value extraction.
Color Coding: Implemented color coding for report columns based on values.
Achieved Benefits
The implementation of these solutions resulted in significant benefits:
Improved Data Visibility: Achieved 30% better understanding and analysis of compliance data.
Accurate Reporting: Automated calculations and data extraction ensured timely and precise reports.
User-Friendly Reports: Color-coding highlighted key metrics and concerns, reducing interpretation time by 40%.
Faster Data Access: Oracle Pipelined Functions enabled 60% quicker data retrieval.
Streamlined Compliance: Organized reports reduced manual effort and error risk by 35%, enhancing overall compliance management.