EY ifb Packaged Solution for regulatory reporting
EY ifb has developed the Packaged Solution for Regulatory Reporting for fast and efficient implementation of regulatory reporting “out of the box.”
What EY can do for you
Reporting capability is existential for banks but also increasingly demanding, as reporting scope and frequency have been increasing for years. The increase in regulatory reports to different supervisory authorities requires a high level of resources and short response times.
Modern software solutions such as Abacus360 promise relief, but the hurdles of transformation are high when the introduction is a long and resource-consuming process which has to be set up from scratch. With the Packaged Solution for Regulatory Reporting (RegReporting), we take a new, faster and more efficient approach to implementation. Instead of costly and customized concepts, our approach is based on predefined leading practice content. This helps speed up implementation, limit risks and reduce costs by up to 30%.
EY ifb Packaged Solution for RegReporting consists of a core offering with optional extensions. The content provided with the core offering of the packaged solution comprises a predefined business concept, corresponding test cases and a technical design for a regulatory reporting software such as Abacus360, including data requirements and parameter settings.
The standardization is based on key design decisions made on the basis of leading practice criteria. In addition, the service delivery model offers efficient, continuous project handling with all relevant planning and controlling documents like project plan and backlogs. The additional offerings provide you the flexibility to optimally customize your solution even more to your needs with specific extensions and supplementary services.
Benefits at a glance:
- The Packaged Solution for RegReporting is your direct route to stable reporting processes because, with the help of a supported and smooth implementation you benefit more quickly from the advantages of the proven standard software.
- EY ifb Packaged Solution for RegReporting provides standardized procedure models for each step of the implementation process. They are based on the best practices of successful Abacus projects.
- Ready-made content packages act as project supporters. They simplify planning and help implementation and reduce project runtimes, risks and costs.
- The Packaged Solution for RegReporting provides a reasonable reliability with regard to regulatory innovations, which are always covered by continuous updates.
The Packaged Solution is compatible with the services of cooperation collaborators such as Regnology, which can take over the set-up of the corresponding managed services infrastructure on request. Standardized procedure models provide more favorable prices up to the highest possible cost security through fixed prices.
Like what you've see? Get in touch to learn more.