An Australian neobank with a Restricted-ADI license and a 24-month APRA mandated deadline to become compliant with its APRA reporting requirements, to become eligible for a full-banking license
Automation of all reporting requirements with APRA
Integration with SAP Cloud for Banking which comprises SAP S/4HANA Finance, SAP Banking (Loans and Deposits), and SAP Payments Engine
A scalable reporting solution that scales with business and supports reporting that becomes applicable in the future
Support for the SBR taxonomy for reporting via Direct to APRA (D2A)
Future support for API integration with APRA's upcoming Data Collection Solution (DCS)
Implemented 65 returns mandated by APRA and 12 additional returns for audit, internal review and management
The implemented APRA returns covered the following categories of supervisory reports - Financial Claims Scheme, APS 910 Data Extracts, Economic and Financial Statistics, Capital Adequacy, Liquidity, Impairment, Exposures, Financial Position, Financial Performance and Points of Presence
Created data transformation accelerators to transform data extracts from SAP cloud banking solutions into data requested by APRA
Successfully completed the implementation within six months
Conducted an onsite requirement gathering exercise to identify and prioritise the reporting requirements
Collaborated with SAP and bank's technology teams to understand data availability and helped the bank to identify gaps in data capture
Developed ETL scripts, reusable across clients, to transform data extracts from SAP Cloud for Banking into data taxonomy mandated by APRA
Enhaced the ease of review of FCS Payments and Reports data extracts, by creating reader-friendly templates viewable on the screen and downloadable in MS-Excel and PDF formats
Designed a reconciliation report to help the bank reconcile count of accounts and deposit balances reported across different classes of APRA’s Financial Classification Scheme - Non-prescribed non-exception accounts, Non-prescribed exception accounts, Prescribed non-exception accounts, Prescribed exception accounts, Aggregate account balances above FCS limit and Non-protected account balances
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Fintellix is now a brand of Verisk Financial (a subsidiary of Verisk Analytics, NASDAQ:VRSK)