Consent Order Compliance:
How a Global Bank Optimized Regulatory Reporting

Client Background

As a globally recognized financial institution, the bank operates across multiple regions, offering a wide range of financial services. With a strong commitment to compliance and governance, the bank continuously strives to enhance its regulatory reporting capabilities. With a strong emphasis on data integrity and operational efficiency, the bank continuously enhances its regulatory reporting framework to meet industry standards and maintain compliance across global jurisdictions.

Strengthening Data Integrity & Regulatory Compliance

As a globally recognized leader in financial services, the bank has always prioritized precision and transparency in regulatory reporting. Facing increasing regulatory scrutiny and the need to comply with a consent order, they sought to enhance data governance, reporting accuracy, and operational efficiency. To achieve this, they partnered with Corian to implement a scalable, automated, and transparent compliance framework that would align with evolving global regulatory standards.

The Challenge

Operating across multiple regions with varying compliance requirements, the bank encountered key challenges that impacted the accuracy and efficiency of its regulatory reporting:

• Variations in data standards across global operations impacted consistency.

• Reliance on manual processes led to inefficiencies and potential errors.

• Limited transparency in data lineage and data governance created gaps in regulatory compliance.

Xoriant Solution

Xoriant collaborated closely with the bank’s teams to design and implement a comprehensive solution that streamlined regulatory reporting and improved data governance. The key initiatives included:

• ETL-Driven Automation: Automated data processing to eliminate manual uploads, ensuring accuracy and integrity at the product model level.

• EUC Report Automation: Reduced dependency on manual report generation, improving efficiency and minimizing errors.

• Advanced Analytics & Visualization: Enhanced insights by upgrading legacy applications with AI-driven analytics and user-friendly dashboards.

• Robust Data Governance Framework: Established standardized policies, controls, and oversight to ensure compliance across reporting functions.

• Agile Deployment Approach: Implemented iterative solution delivery through 25 Scrum teams, ensuring adaptability to evolving regulatory requirements.

• Global Compliance Adherence: Ensured full compliance with key regulatory authorities, including US FED/OCC, APAC, LATAM, and EMEA guidelines.

By integrating intelligent automation, AI-driven analytics, and structured governance, Xoriant helped the bank achieve greater accuracy, efficiency, and transparency in its reporting functions.

Business Value: 

• Onboarded 6 Financial Products post-consent order, reinforcing regulatory adherence and compliance confidence.

• Accelerated Reporting Timelines by automating workflows, reducing turnaround time, and enhancing operational efficiency.

• Strengthened Data Integrity & Auditability with standardized governance measures, minimizing regulatory risks.

• Reduced Compliance Risks & Legal Liabilities, ensuring the bank met evolving regulatory expectations seamlessly.

• Empowered Decision-Making through AI-driven analytics, providing deeper insights for strategic regulatory compliance.

Technology Stack: 

Python | Oracle dB | AI ML | Gen AI | MongoDB | Power BI