One of India’s leading financial institutions, is renowned for its commitment to innovation and operational efficiency. With a vast network of branches and departments, the bank faced challenges in generating timely and accurate departmental reports critical for decision-making, compliance, and strategic planning.
Hours delivered back to the business
SOX compliance in Settlement process automation
Success rate of bot case completion
For functional release of OBT, RTS and OGS
The Chalange
The bank encountered several hurdles in its reporting processes:
Data Silos: Departments relied on disparate systems, making it challenging to consolidate data.
Manual Processes: Reporting involved significant manual effort, leading to errors and delays.
Limited Insights: Static reports lacked the ability to provide actionable insights in real-time.
Compliance Pressure: Meeting regulatory reporting requirements demanded significant resources and time.
Scalability Issues: Existing systems struggled to handle the growing volume of data and reporting needs.
What did
Glorious Insight do
The Bank partnered with Glorious Insight to overhaul its reporting framework. The solution focused on leveraging advanced technologies to build a streamlined and scalable reporting infrastructure.
Implementation of Centralized Data Warehouse
Consolidated data from multiple departmental systems into a single, secure data warehouse.
Enabled seamless data integration from core banking systems, CRM, and external data sources.
Adoption of Business Intelligence (BI) Tools
Deployed Power BI for dynamic and interactive reporting.
Provided departmental heads with dashboards tailored to their specific KPIs.
Automation of Reporting Processes
Integrated Azure Automate to automate repetitive data aggregation and formatting tasks.
Reduced manual errors and freed up employees for higher-value tasks.
Advanced Analytics with AI/ML
Leveraged AI and machine learning models to identify trends and predict future performance metrics.
Enabled proactive decision-making by flagging anomalies in real-time.
Enhanced Regulatory Reporting
Implemented tools to ensure timely and accurate compliance reports.
Integrated audit trails and automated alerts for regulatory deadlines
The Results
- Improved Efficiency: Reporting time reduced by 50%, enabling faster decision-making.
- Data Accuracy: Automated processes eliminated manual errors, enhancing report reliability.
- Real-time Insights: Interactive dashboards allowed for better tracking of departmental performance.
- Cost Savings: Streamlined processes reduced operational costs significantly.
- Scalability: The new framework accommodated growing data and reporting demands with ease.
- Regulatory Compliance: Automated alerts and audit trails ensured adherence to regulatory requirements.
