The bank undertook a significant initiative to modernise its regulatory reporting processes by automating the end-to-end generation of BA returns to the South African Reserve Bank (SARB). This modernisation effort involved building a centralised data estate, which served as a unified repository for all relevant data. The bank integrated data from various sources, including core banking systems, SAP General Ledger (GL), and risk management systems, into this centralised data hub.
By consolidating data from these disparate systems, the bank was able to apply standardised transformations and calculations to ensure consistency and accuracy in the reporting process. The automation of these tasks significantly reduced the manual effort required, minimised the risk of errors, and ensured timely and accurate submission of BA returns to SARB. This streamlined approach not only improved compliance with regulatory requirements but also freed up valuable resources, allowing the bank's regulatory team to focus on more strategic initiatives.