The Polish branch of Bank from China operates under the European Passport framework and is authorised by the Polish Financial Supervision Authority (KNF) to conduct banking activities in the Republic of Poland. As part of one of the largest financial institutions in the world, the branch is subject to virtually the same reporting obligations as all other banks operating in Poland. Regulatory requirements, both national and European, are extremely stringent, involving numerous reporting packages and strict submission deadlines. Unlike large banks with dedicated reporting departments, smaller branches face the same obligations with significantly more limited staffing resources.
The client has gained a consistent, automated mandatory reporting process thanks to Asseco’s proprietary system for regulatory reporting.
Need for automation of mandatory reporting
Bank was faced with a growing number of reporting duties. With the increasing burden and the emergence of new reporting obligations, the bank decided to implement a solution to fully automate the reporting process.
Efficient reporting based on Asseco’s modern system
The bank selected Asseco for the project based on its extensive experience in financial sector projects and confidence in the solutions offered. Asseco proposed its modern, webbased solution designed to fulfill reporting obligations to both national and European supervisory authorities.
The project had two primary objectives: to automate the reporting of the main reporting packages and to maximise the use of available data sources, thereby improving the timeliness and accuracy of the submitted data. The implementation was divided into two phases. The first phase involved a detailed analysis of the source data provided by the Bank’s headquarters, including the data used to date, and an assessment of its usability. Based on this, a design document outlining the solution architecture was developed.
The second phase was the actual implementation: preparing the data sources, importing them into the system, and creating mapping dictionaries compatible with Asseco’s reporting models.
The result was fully automated, reconciled reports meeting the supervisor’s requirements.
As part of the implementation, several reporting packages were automated, including dozens of mandatory reports – among them some of the most complex and demanding, such as MONREP and FINREP. Automation also covered reports on the daily foreign exchange position (FIN025), interest rate risk (FIN018–FIN020), and reserve requirement calculations. This provided the Polish branch of Bank from China with a consistent and automated reporting process fully compliant with regulatory standards.
Efficiency and compliance – real benefits of Implementing the Asseco system
- Full automation of mandatory report creation, including MONREP and FINREP, reducing manual effort and the need for reconciliation and correction.
- Significant reduction in report preparation time thanks to automated data feeds.
- Improved data quality and consistency through process standardisation and the elimination of manual reconciliation.
- Creation of an automated data source for the income statement based on daily postings.
- Full compliance with supervisory requirements for financial, prudential, and statistical reporting.
- Reduced workload for the reporting team and increased overall efficiency.
