Banking & Finance

Automating Regulatory Reporting for a European Bank

Verenka Bank AG

5 days → 4 hours reporting cycle 14 analysts reallocated Near-zero submission errors 9 systems unified

01The Challenge

Preparing monthly regulatory reports (COREP, FINREP) required 14 analysts working for 5 days each month, manually extracting and cross-referencing data from 9 siloed core banking systems.

02The Solution

North Rays built an automated data extraction and reconciliation pipeline that pulls from all 9 systems, applies regulatory transformation rules, validates outputs, and submits reports to the ECB portal.

03The Result

Reporting cycle reduced from 5 days to 4 hours. Analyst time reallocated to analytical work. Error rate in submissions dropped to near-zero, eliminating late-submission penalties.

At a Glance

Client

Verenka Bank AG

Industry

Banking & Finance

5 days → 4 hours reporting cycle

14 analysts reallocated

Near-zero submission errors

9 systems unified

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