UK Bank Transforms Regulatory Reporting With Seamless Implementation
Background
A UK-based subsidiary of a European private bank and specialised lender needed a modern regulatory reporting solution after a failed vendor implementation. Despite its focused business model, the bank faced complex UK regulatory reporting requirements and an increasing manual workload.
The bank had attempted to implement a legacy vendor solution over 25 years old, but the project stalled before completion. This left them with partially implemented reports and significant operational inefficiencies in meeting regulatory deadlines.
The Challenge
With the failed implementation, the bank faced two options.
One option was to invest heavily in vendor consultants to attempt to complete the stalled project. This approach was expensive and time-consuming. The second option was to find an alternative solution that could be deployed efficiently without excessive manual intervention. The bank needed a scalable and cost-effective solution that ensured full regulatory compliance while reducing operational risk.
The Solution
After evaluating multiple options, the bank selected Suade for its open-source data model, automation capabilities, and streamlined implementation.
Why This Solution?
Suade’s flexible open-source data model allowed for a seamless transition, avoiding the challenges that stalled the previous project.
The bank only needed to map data once, which eliminated the need for constant remapping and enabled automatic reuse across all regulatory reports.
Users gained full auditability and traceability, ensuring transparency and compliance by tracking transactions across all regulatory reporting requirements.
The implementation was completed with a small internal team, removing the need for costly external consultants.
The Results
With Suade’s RegTech platform, the bank achieved significant improvements in efficiency, cost reduction, and compliance.
The full UK regulatory reporting implementation was completed in just four months, replacing the stalled vendor project and delivering results quickly.
Bank of England statistical reporting was added within weeks. Since key data attributes were already mapped, the process was seamless and did not require additional professional services.
The bank avoided unnecessary legacy vendor consulting fees, leading to significant cost savings.
Full data traceability simplified auditability and improved regulatory oversight, enhancing compliance and transparency.
Client Testimonial
"We faced significant delays and inefficiencies with our previous vendor, but Suade changed everything. The implementation was seamless and cost-effective. Within four months, we had fully automated our UK regulatory reporting. Adding new reports is now effortless, and we have full confidence in our regulatory compliance."
How Suade Can help
Suade provides end-to-end automation of regulatory reporting for financial institutions, ensuring compliance with evolving global standards. Our platform streamlines reporting, reduces manual processes, and enhances data accuracy.
With increasing regulatory demands such as Basel III, PRA, and EBA requirements, banks need a scalable solution that eliminates inefficiencies and strengthens risk control. Suade delivers a seamless, automated approach to compliance, trusted by financial institutions worldwide.
Book a demo to see how Suade can transform your regulatory reporting and keep your organisation ahead of regulatory change.
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