Enhancing efficiency in Bank Reporting (FinRep/IFRS and CoRep/Basel III)

The new reporting requirements for banks are one of the services, cundus is offering to our customers in order to enhance reporting infrastructures. We enable you to release cost and time savings within external reporting in the areas of:

FinRep (Financial Reporting)
CoRep (Common Reporting)
Risk Reporting

In this context, we offer our customers predefined and established deliverables in order to support them to master the challenges of the Bank Reporting.

cundus Consulting for Disclosure Management

Your Company's Benefits:

Our objective is to enable our costumers in mastering the challenges of the Reporting Requirements and to build up an efficient reporting process. Starting from the Integration and Collection of Data from different source Systems (SAP as well as Non-SAP-Systems) reaching to the final report, cundus offers predefined Business Content and costumized tools matching the regulative requirements.

Time and cost savings
Acceleration of the Report Development Process
Minimization of effort and risks
Enhanced Data Quality and auditability
Flexibility and Transparency within the Report Development Process
Achieving a Return on Investment
Accelerated implementation and productive systems

Our Service Portfolio:

Conception and Design of an enterprise-wide Reporting Solution
Requirements Engineering/System Specification and Feasibility Studies (Proof-of-Concept)
Solution-Design and Development of an individual Architecture
Implementation and Customizing of SAP BO Disclosure Management and SAP BO Notes Management
Supply of ‘pre-tagged’ XBRL-Reporting Templates for CoRep and FinRep
Technical Support in the Consolidation of old reporting structures into the new reporting modules
Maintenance of the Reporting-Templates after regulatory changes
User-Training and Helpdesk

Main Challenges for Banks

Enhanced cost and time pressure within the Disclosure Process

Temporarily developed and implemented Excel-Sheets are binding Resource’s, which are missing in the implementation of architectural solutions for financial disclosure
Additionally, requirements for the Implementation of Reporting for Basel III and IFRS 9 are binding resources which should be used for annual report development

Different Persons and units are manually involved in the process

Workflow: transparency and auditability
Status monitoring and process management efficiency

Consistency of Reporting

Prevent manual entering, which is error prone and transferring of data from one source to another
Enhance integration of data
Traceable editing of content within the reporting process