The solution simplifies regulatory reporting by automating existing manual processes, revolutionizing data storage and management, and streamlining processes needed to comply with regulatory requirements through the implementation of a rules-based workflow engine.

1. Regulatory reporting simplification
Extended adoption
period required from
manual process
migration
Requiring an agile
yet robust solution
that can adapt to
ongoing regulatory
changes
Short extraction and
aggregation period
for regulatory
submissions
Embedding of data
transformations
and business logic
to meet reporting
requirements
Challenges faced by banks
Simplifying and automating reporting processes
Automates
existing manual
processes
Simplified
data
management
Flexibility in
data sources
and
configurations
Solution
handles all data
volumes and
performance
requirements
Data
traceable
back to the
source
Data and
calculations
can be stored
and reused
Case study
Context: An India-based global life insurance
company was seeking a solution for
automating, simplifying and hastening its
regulatory reporting process. In addition, the
company was keen to leverage this reporting
architecture to support other value-added
customer services.
Recommended configuration:
• Connectivity to a variety of internal
databases required to populate reporting
templates
• Implemented a rules-based workflow
engine that streamlines the processes
needed to comply with regulatory
requirements
• Automated of manual data extraction,
transformation and loading processes to
save resources and time
• Modeled multi-sourced enterprise data to
ensure alignment with reporting
requirements
• Implemented a Hive data lake to enable
360-degree view of the customer
Client impact:
• Achieved a 20% reduction in extract,
transform and load resourcing
• Cost-effective data storage capability for
high-volume structured and unstructured
data
• Regularly refreshed up-to-date single
customer view across multiple
departments
Leading interfaces and technology capabilities
Data
aggregation
Data
transformation
across sources
Process
automation,
virtualization
and parallel
processing
User
authentication
and audit
protocols
Support for
predictive
analytics
Support for
transactional
applications by
leveraging APIs
Data ingested
from source
systems
directly
Reports
generation
aligned to
required formats
Utilizes web
browser
dashboards
Granular
permissions
for hundreds
of users
Supports
required
formats and
electronic
submissions
Varun Mittal
Global Emerging Markets
FinTech lead
varun.mittal@sg.ey.com
Contact us
FinTech Hub
www.ey.com/sg/FinTechHub