Modernizing Financial Systems for a Global Bank

Overview

Ahead of Bulgaria’s legally mandated Euro (EUR) adoption on 1 January 2026, a leading global bank faced a non-negotiable regulatory deadline requiring enterprise-wide currency conversion. The transformation demanded high-precision calculations, zero operational disruption, and complete regulatory traceability across systems. Xoriant acted as a trusted System Integration partner, delivering a centralized, audit-ready Euro conversion program engineered for scale, transparency, and regulatory oversight.

Challenges

Strict accuracy and rounding requirements to eliminate financial and compliance risks.
Dual-currency visibility required during the transition period (BGN + EUR).
High risk to customer trust if balances or statements were incorrect.
Enterprise-wide impact across core banking systems and reporting platforms.

Solution Delivered

Xoriant designed and implemented a centralized Euro conversion framework with:

A single authoritative conversion engine applying official fixed rates consistently enterprise-wide.
Dual-currency enablement across transactions, statements, and statutory reporting.
End-to-end automated data conversion ensuring audit trails and regulatory traceability.
Multiple mock cutovers and dress rehearsals to validate real-world scenarios.
Customer-ready disclosures and statements to ensure clarity and transparency.

Business Value & Impact

100% Compliance – Regulatory readiness achieved on Day One.
Zero Downtime – Continuous operations during enterprise conversion.
95% Automation – Manual reconciliation effort significantly reduced.
High Customer Confidence – Minimal increase in service queries during transition.