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Automating Control Testing: Coforge Drives Efficiency for Digital Business Services of Europe's Largest Bank

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Overview.

Europe's largest bank, a titan in the financial services industry, faced significant challenges in its Digital Business Services (DBS) division. The bank's Chief Control Office struggled with manual, inefficient control testing processes that hindered operational excellence and introduced quality risks. In an era of stringent regulatory requirements and evolving financial threats, the bank sought to revolutionize its approach to risk management and compliance. Coforge partnered with the client to tackle these complex challenges head-on.

Challenges.

  • Manual efforts hindering operational efficiency 
  • Limited test coverage introducing quality risks 
  • Fragmented reporting processes 
  • Need for 100% population coverage in control testing 
  • Requirement for robust process controls 
  • Demand for automated reporting on testing progress and outcomes 

Solution.

Coforge developed a centralized component leveraging data analytics and automation:

  • Utilized Python, Alteryx, and machine learning for data-driven analysis 
  • Integrated with DBS refinery, Kulakeep, and trusted data sources 
  • Implemented Qlik for automated report generation 
  • Enabled interaction with multiple in-house and third-party systems 
  • Facilitated seamless integration with cloud data warehouses 

Key highlights:

  • Comprehensive automation of control testing processes 
  • Data-driven analysis using advanced technologies 
  • Seamless integration with existing systems and data sources 
  • Automated reporting for clear insights into testing progress 

 

The Impact.

30% 100%
Reduction in Manual Work Coverage Achieved

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