Digital Transformation for Financial Institutions Contingency Plan Acceptance Process

Initial Situation

The client has received reports on its options in case of various crisis scenarios and the impact on prescribed indicators reported by small financial institutions or banking groups. As a template, these end customers received an Excel file containing many protected areas to prevent manipulation.

When new cells were inserted, linked cells were split up, making the completed form difficult to read at the end. It was not possible to check the plausibility of the completed form, as there were no cross connections within the complex table. The end customers had to copy and paste already entered data or enter new data.
Solution

In cooperation with a large accountant, an interactive solution was designed to solve the problems of the Excel tables and additionally allows cross-references to documentation or legal texts for each section. The draft was agreed with the specialist department.

Implementation

In an agile procedure, progress was discussed with the customer every one to three weeks and the requirements were sharpened in a dialog. The solution was integrated into the customer's existing server system.

Six months later

Six months later, the solution was successfully accepted by the customer's specialist department. An improvement compared to the Excellent solution was clearly evident in the following points:

• It is not possible to report the plan before all plausibility checks have been solved. This relieves the specialist department before checking the reported plans
• Queries are reduced, because the help texts can be called directly to the respective context
• A reuse of already made entries for references is made possible by selection boxes. This way, the data is linked and does not have to be copied.
• The data is delivered directly to the customer's data center and does not have to be typed. Thus the data is available as entered by the user.