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Regulatory Reporting Platform Development for a Fortune 100 Bank

Xoriant Marketing

Client Background

  • Our client, a leading Fortune 100 global diversified financial service holding company. 
  • Being a global bank, the client had to comply with the regulations laid down by the federal agencies - Federal Reserve Board (FRB) and Office of the Comptroller of the Currency (OCC). 
  • These included FRB’s Comprehensive Capital Analysis and Review (CCAR) and OCC’s Dodd-Frank Act Stress Test (DFAST), a semi-annual exercise intended to assess the large bank holding companies (BHCs) risk profile and capital adequacy even at times of adverse economic and financial stress.
  • Data sourcing from different demographics and business units was manual, time-consuming, and tedious through email communications. Non-compliance to CCAR reporting led to high-cost implications. 

Xoriant Solution

  • Xoriant combined engineering rigor with next-generation technology expertise to make the regulatory reporting process smooth.
  • Designed platform architecture for reports management, process orchestration & workflow.
  • Developed the platform for enterprise-wide regulatory report specific data aggregation, submission & management. 

Key Benefits

  • Reduced 90% manual errors and achieved 100% accuracy level in submitted data. 
  • Delivered single day report submission irrespective of report type.
  • Reduced time taken for report generation & submission.

Download The Case study
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