Compliance platform for bank operators

Client

The group manages more than 13 million customers, divided between different types of financial products.

Challenge

Replace Client's compliance handling a huge amount of data.

More specifically, the requirements involved the following areas:

• Archiving of Financial Reports
• Tax Monitoring Reporting
• Tax Monitoring Investigations
• FATCA Reporting
• CRS Reporting

Solution

The main challenge of the project related to the management of more than 500 million of data, but thanks to our expertise and knowledge of business processes the goal was reached through the implementation of a process that allows the data to be processed in a timeframe which meets the business requirements.

Furthermore, the migration of all compliance data was performed with significant gains for the customer as regards the monitoring and security of the data processed thanks to our Phoenix Compliance Platform (PCP).

Results

• Complete integration meeting the timing and cost requirements thanks to the PCP platform
• More accurate management and awareness of the data perimeter
• Management of a huge amount of data without any loss of information or slowness in the process itself